Analysts Set Novartis AG (NYSE:NVS) Price Target at $121.50

Novartis AG (NYSE:NVS) has received a consensus rating of “Reduce” from the nine analysts that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and eight have assigned a hold recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $121.50.

Several analysts have issued reports on NVS shares. Bank of America lowered shares of Novartis from a “buy” rating to a “neutral” rating and cut their price target for the company from $135.00 to $130.00 in a research report on Wednesday, September 11th. Jefferies Financial Group cut shares of Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. Erste Group Bank reiterated a “hold” rating on shares of Novartis in a research report on Tuesday, November 19th. The Goldman Sachs Group reissued a “neutral” rating and issued a $121.00 target price (up previously from $119.00) on shares of Novartis in a research report on Thursday, September 5th. Finally, BMO Capital Markets upped their price target on Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th.

Novartis Stock Performance

NYSE:NVS opened at $103.54 on Friday. The stock has a market cap of $211.64 billion, a P/E ratio of 12.03, a PEG ratio of 1.50 and a beta of 0.58. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 0.55. The business’s 50-day moving average price is $111.60 and its two-hundred day moving average price is $110.22. Novartis has a twelve month low of $92.35 and a twelve month high of $120.92.

Novartis (NYSE:NVS) last released its quarterly earnings results on Tuesday, October 29th. The company reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. The business had revenue of $12.82 billion during the quarter, compared to analysts’ expectations of $12.62 billion. Novartis had a net margin of 35.96% and a return on equity of 34.80%. During the same quarter in the previous year, the company earned $1.74 EPS. As a group, equities analysts predict that Novartis will post 7.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Novartis

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. New Millennium Group LLC purchased a new stake in Novartis in the second quarter worth $28,000. Legacy Investment Solutions LLC bought a new position in Novartis during the 3rd quarter worth about $28,000. Lynx Investment Advisory purchased a new position in Novartis during the 2nd quarter valued at about $29,000. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Novartis in the 2nd quarter worth approximately $30,000. Finally, Richardson Financial Services Inc. purchased a new position in Novartis during the second quarter valued at approximately $30,000. 13.12% of the stock is owned by institutional investors.

Novartis Company Profile

Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.