Novartis (NYSE:NVS) Downgraded to Buy Rating by StockNews.com

Novartis (NYSE:NVS - Get Free Report) was downgraded by stock analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a report issued on Friday.

A number of other research analysts have also recently commented on NVS. HSBC cut Novartis from a "hold" rating to a "reduce" rating in a research note on Wednesday, December 4th. BMO Capital Markets raised their target price on Novartis from $118.00 to $120.00 and gave the company a "market perform" rating in a report on Wednesday, October 30th. Finally, Erste Group Bank reiterated a "hold" rating on shares of Novartis in a research note on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, Novartis currently has an average rating of "Hold" and a consensus price target of $123.38.

Novartis Stock Up 2.0 %

Shares of NYSE:NVS opened at $104.99 on Friday. The company has a market capitalization of $214.61 billion, a price-to-earnings ratio of 12.19, a PEG ratio of 1.49 and a beta of 0.57. Novartis has a 12-month low of $92.35 and a 12-month high of $120.92. The business has a 50-day moving average price of $100.07 and a 200 day moving average price of $108.53. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 0.55.

Novartis (NYSE:NVS - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share for the quarter, beating analysts' consensus estimates of $1.94 by $0.12. Novartis had a net margin of 35.96% and a return on equity of 34.80%. The business had revenue of $12.82 billion during the quarter, compared to analysts' expectations of $12.62 billion. During the same period last year, the business earned $1.74 earnings per share. Sell-side analysts expect that Novartis will post 7.62 EPS for the current year.

Institutional Investors Weigh In On Novartis

Hedge funds have recently bought and sold shares of the stock. Foundations Investment Advisors LLC lifted its position in shares of Novartis by 26.9% during the 4th quarter. Foundations Investment Advisors LLC now owns 89,074 shares of the company's stock worth $8,668,000 after purchasing an additional 18,894 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Novartis by 115.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 231,792 shares of the company's stock worth $26,797,000 after purchasing an additional 124,111 shares in the last quarter. CWA Asset Management Group LLC lifted its position in shares of Novartis by 20.1% during the 4th quarter. CWA Asset Management Group LLC now owns 30,840 shares of the company's stock worth $3,001,000 after buying an additional 5,164 shares during the last quarter. Quantbot Technologies LP boosted its holdings in shares of Novartis by 135.5% in the 3rd quarter. Quantbot Technologies LP now owns 39,976 shares of the company's stock valued at $4,598,000 after buying an additional 22,998 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Novartis by 13.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 157,256 shares of the company's stock valued at $18,088,000 after buying an additional 18,990 shares during the last quarter. Institutional investors and hedge funds own 13.12% of the company's stock.

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.