Erste Group Bank Reiterates "Hold" Rating for Novartis (NYSE:NVS)

Novartis (NYSE:NVS - Get Free Report)'s stock had its "hold" rating restated by research analysts at Erste Group Bank in a research report issued to clients and investors on Tuesday,Benzinga reports.

Several other analysts also recently weighed in on NVS. The Goldman Sachs Group reissued a "neutral" rating and set a $121.00 target price (up previously from $119.00) on shares of Novartis in a research report on Thursday, September 5th. Jefferies Financial Group downgraded Novartis from a "buy" rating to a "hold" rating in a research report on Tuesday, September 3rd. Bank of America cut Novartis from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $135.00 to $130.00 in a research report on Wednesday, September 11th. Finally, BMO Capital Markets increased their price objective on Novartis from $118.00 to $120.00 and gave the company a "market perform" rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a strong buy rating to the company. According to MarketBeat, Novartis has an average rating of "Hold" and an average target price of $121.50.

Novartis Stock Up 0.2 %

Shares of NVS stock traded up $0.23 during trading hours on Tuesday, reaching $103.27. 1,236,407 shares of the company's stock were exchanged, compared to its average volume of 1,343,255. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 0.55. The company has a market cap of $211.08 billion, a price-to-earnings ratio of 11.99, a P/E/G ratio of 1.49 and a beta of 0.58. Novartis has a fifty-two week low of $92.35 and a fifty-two week high of $120.92. The stock's 50 day moving average is $112.58 and its 200-day moving average is $110.10.

Novartis (NYSE:NVS - Get Free Report) last announced its earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.12. Novartis had a return on equity of 34.80% and a net margin of 35.96%. The company had revenue of $12.82 billion for the quarter, compared to analyst estimates of $12.62 billion. During the same period in the prior year, the company posted $1.74 EPS. Analysts predict that Novartis will post 7.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Novartis

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

About Novartis

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.