Novartis AG (NYSE:NVS) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Novartis AG (NYSE:NVSGet Rating) have received an average rating of “Hold” from the twenty analysts that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $85.20.

Several analysts recently issued reports on the company. Morgan Stanley cut their target price on Novartis from CHF 97 to CHF 88 in a research note on Thursday, September 8th. Oddo Bhf cut Novartis from an “outperform” rating to a “neutral” rating and set a CHF 88 price objective on the stock. in a research report on Thursday, September 29th. Kepler Capital Markets raised Novartis from a “hold” rating to a “buy” rating and set a CHF 90 price objective on the stock in a research report on Wednesday, September 7th. StockNews.com started coverage on Novartis in a research report on Wednesday, October 12th. They set a “strong-buy” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Novartis from CHF 75 to CHF 70 and set a “sell” rating on the stock in a research report on Friday, October 7th.

Novartis Stock Down 1.3 %

NYSE NVS opened at $84.02 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.31 and a quick ratio of 1.07. The stock has a market capitalization of $185.90 billion, a PE ratio of 8.64, a PEG ratio of 2.40 and a beta of 0.55. Novartis has a 1 year low of $74.09 and a 1 year high of $94.26. The business’s 50-day moving average is $78.88 and its 200 day moving average is $83.22.

Institutional Investors Weigh In On Novartis

A number of hedge funds have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. raised its stake in Novartis by 8.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,362,594 shares of the company’s stock valued at $103,571,000 after buying an additional 105,955 shares during the last quarter. Cadence Bank purchased a new stake in shares of Novartis in the 3rd quarter worth $424,000. Dakota Wealth Management increased its stake in shares of Novartis by 20.2% in the 3rd quarter. Dakota Wealth Management now owns 7,655 shares of the company’s stock worth $582,000 after purchasing an additional 1,285 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of Novartis by 16.5% in the 3rd quarter. Quadrant Capital Group LLC now owns 10,462 shares of the company’s stock worth $795,000 after purchasing an additional 1,482 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Novartis by 31.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 63,778 shares of the company’s stock worth $4,848,000 after purchasing an additional 15,339 shares in the last quarter. 9.14% of the stock is currently owned by hedge funds and other institutional investors.

About Novartis

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Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company operates through two segments, Innovative Medicines and Sandoz. The Innovative Medicines segment offers prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology, dermatology, respiratory, cardiovascular, renal, and metabolism medicine products.

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Analyst Recommendations for Novartis (NYSE:NVS)

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