Novartis (NYSE:NVS) Cut to Hold at HSBC

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Novartis (NYSE:NVS) was downgraded by investment analysts at HSBC from a “buy” rating to a “hold” rating in a research report issued on Tuesday, May 29th, MarketBeat Ratings reports.

Other analysts have also recently issued reports about the stock. Deutsche Bank restated a “neutral” rating on shares of Novartis in a report on Friday, April 20th. JPMorgan Chase & Co. restated a “neutral” rating on shares of Novartis in a report on Monday, April 9th. Credit Suisse Group upgraded shares of Novartis from an “underperform” rating to a “neutral” rating in a report on Friday, May 25th. Finally, ValuEngine cut shares of Novartis from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $89.81.

Shares of Novartis stock traded up $1.26 on Tuesday, hitting $75.24. The company had a trading volume of 193,738 shares, compared to its average volume of 1,604,789. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.17 and a quick ratio of 0.91. The stock has a market capitalization of $172.02 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 1.62 and a beta of 0.76. Novartis has a 52 week low of $73.21 and a 52 week high of $94.19.

Novartis (NYSE:NVS) last posted its quarterly earnings data on Thursday, April 19th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.03. The business had revenue of $12.69 billion during the quarter, compared to analysts’ expectations of $12.45 billion. Novartis had a net margin of 16.04% and a return on equity of 16.23%. The business’s revenue was up 10.0% on a year-over-year basis. During the same period last year, the firm posted $1.13 earnings per share. analysts forecast that Novartis will post 5.22 earnings per share for the current fiscal year.

In other news, major shareholder Institutes For Biomed Novartis acquired 766,666 shares of the firm’s stock in a transaction that occurred on Monday, April 23rd. The stock was purchased at an average price of $15.00 per share, with a total value of $11,499,990.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.01% of the company’s stock.

A number of institutional investors have recently bought and sold shares of NVS. Winthrop Partners WNY LLC purchased a new stake in Novartis in the 1st quarter worth approximately $100,000. Gables Capital Management Inc. purchased a new stake in Novartis in the 1st quarter worth approximately $103,000. Pinnacle Wealth Planning Services Inc. purchased a new stake in Novartis in the 4th quarter worth approximately $113,000. Calton & Associates Inc. purchased a new stake in Novartis in the 4th quarter worth approximately $118,000. Finally, SeaCrest Wealth Management LLC purchased a new stake in Novartis in the 4th quarter worth approximately $124,000. 10.91% of the stock is owned by hedge funds and other institutional investors.

About Novartis

Novartis AG researches, develops, manufactures, and markets a range of healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines to enhance health outcomes for patients and health-care providers. This segment also commercializes products in the areas of oncology and rare diseases, ophthalmology, immunology and dermatology, neuroscience, respiratory, cardio-metabolic, and established medicines.

Analyst Recommendations for Novartis (NYSE:NVS)

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