Novartis (NYSE:NVS) Coverage Initiated by Analysts at DZ Bank

DZ Bank began coverage on shares of Novartis (NYSE:NVS) in a research report report published on Wednesday,Zacks reports. The brokerage issued a hold rating on the stock.

Other analysts have also recently issued research reports about the stock. Bank of America restated a “buy” rating on shares of Novartis in a research note on Tuesday, September 8th. Sanford C. Bernstein reiterated a “neutral” rating on shares of Novartis in a research note on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft reiterated a “neutral” rating on shares of Novartis in a research note on Thursday, September 17th. UBS Group reissued a “neutral” rating on shares of Novartis in a report on Wednesday. Finally, The Goldman Sachs Group restated a “sell” rating on shares of Novartis in a research report on Monday, September 21st. Six analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Novartis has a consensus rating of “Hold” and a consensus price target of $152.25.

Novartis Trading Up 3.2%

Shares of Novartis stock opened at $161.03 on Wednesday. The business has a fifty day simple moving average of $148.32 and a two-hundred day simple moving average of $151.71. Novartis has a 1 year low of $121.98 and a 1 year high of $170.46. The company has a market capitalization of $307.28 billion, a price-to-earnings ratio of 30.73, a P/E/G ratio of 2.91 and a beta of 0.41. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.88 and a quick ratio of 0.67.

Novartis (NYSE:NVS) last released its quarterly earnings data on Tuesday, October 27th. The company reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.25 by $0.21. Novartis had a net margin of 18.11% and a return on equity of 41.04%. The firm had revenue of $15.03 billion during the quarter, compared to analysts’ expectations of $14.53 billion. During the same period in the previous year, the business posted $2.25 earnings per share. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. Research analysts forecast that Novartis will post 8.94 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in NVS. Integrity Alliance LLC. acquired a new stake in shares of Novartis during the 3rd quarter worth approximately $311,000. First Nebraska Trust Co bought a new position in Novartis in the third quarter valued at approximately $258,000. Next Level Wealth Planning LLC acquired a new position in Novartis during the third quarter valued at approximately $114,000. Signature Equity Partners LLC raised its position in Novartis by 49.2% during the third quarter. Signature Equity Partners LLC now owns 358 shares of the company’s stock valued at $51,000 after purchasing an additional 118 shares in the last quarter. Finally, Salomon & Ludwin LLC lifted its stake in Novartis by 16.2% during the third quarter. Salomon & Ludwin LLC now owns 1,208 shares of the company’s stock worth $172,000 after purchasing an additional 168 shares during the last quarter. Institutional investors own 13.12% of the company’s stock.

About Novartis

Novartis AG is a Switzerland-based pharmaceutical company focused on the discovery, development and commercialization of innovative medicines. The company’s research and commercial activities span areas including cardiovascular, renal and metabolic diseases, immunology, neuroscience, oncology and hematology. Its portfolio includes prescription medicines such as Entresto, Cosentyx, Kisqali, Kesimpta, Leqvio, Pluvicto and Scemblix.

Novartis serves patients and healthcare providers in markets around the world.