Novartis (NYSE:NVS) Stock Rating Upgraded by Wall Street Zen

Novartis (NYSE:NVS) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

Several other research analysts have also commented on the stock. Cfra set a $126.00 price objective on shares of Novartis and gave the stock a “hold” rating in a research note on Wednesday, October 29th. HC Wainwright cut shares of Novartis to a “neutral” rating in a research note on Monday, October 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Novartis in a report on Monday, December 29th. Cfra Research raised shares of Novartis to a “hold” rating in a research report on Wednesday, October 29th. Finally, Morgan Stanley restated an “overweight” rating on shares of Novartis in a research report on Wednesday, December 3rd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $119.75.

Novartis Price Performance

NVS stock opened at $144.52 on Friday. Novartis has a 52 week low of $97.45 and a 52 week high of $146.35. The firm has a market capitalization of $305.29 billion, a P/E ratio of 19.74, a price-to-earnings-growth ratio of 1.99 and a beta of 0.51. The company has a fifty day simple moving average of $134.77 and a two-hundred day simple moving average of $127.88. The company has a quick ratio of 0.68, a current ratio of 0.88 and a debt-to-equity ratio of 0.50.

Novartis (NYSE:NVS) last announced its earnings results on Tuesday, October 28th. The company reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.26 by ($0.01). Novartis had a net margin of 26.49% and a return on equity of 41.21%. The business had revenue of $14.36 billion for the quarter, compared to analysts’ expectations of $13.70 billion. During the same quarter in the prior year, the company posted $2.06 earnings per share. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. Analysts anticipate that Novartis will post 8.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Novartis

A number of institutional investors have recently modified their holdings of the stock. Brighton Jones LLC grew its stake in Novartis by 76.5% in the fourth quarter. Brighton Jones LLC now owns 6,153 shares of the company’s stock worth $599,000 after purchasing an additional 2,666 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Novartis by 102.8% in the 1st quarter. AQR Capital Management LLC now owns 22,573 shares of the company’s stock worth $2,516,000 after buying an additional 11,444 shares during the period. Empowered Funds LLC bought a new position in shares of Novartis during the 1st quarter worth $1,764,000. Voya Investment Management LLC grew its position in shares of Novartis by 1.3% during the 1st quarter. Voya Investment Management LLC now owns 39,260 shares of the company’s stock worth $4,377,000 after buying an additional 490 shares in the last quarter. Finally, Pallas Capital Advisors LLC purchased a new position in shares of Novartis during the second quarter valued at $216,000. 13.12% of the stock is owned by hedge funds and other institutional investors.

Novartis Company Profile

Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.

The company’s activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.