Jefferies Financial Group Lowers Novartis (NYSE:NVS) to Hold

Jefferies Financial Group cut shares of Novartis (NYSE:NVS) from a buy rating to a hold rating in a research note published on Tuesday, MarketBeat.com reports.

Several other brokerages also recently issued reports on NVS. Deutsche Bank Aktiengesellschaft reiterated a hold rating on shares of Novartis in a report on Friday, July 19th. Barclays raised shares of Novartis to a strong sell rating in a research report on Monday, June 24th. Finally, The Goldman Sachs Group began coverage on Novartis in a research note on Thursday, May 30th. They set a buy rating and a $120.00 target price for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus price target of $118.38.

Novartis Stock Down 2.4 %

Novartis stock opened at $116.50 on Tuesday. The stock’s 50 day moving average price is $112.45 and its 200 day moving average price is $104.40. The company has a market cap of $238.13 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 1.77 and a beta of 0.57. Novartis has a 1-year low of $92.19 and a 1-year high of $120.92. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.93 and a quick ratio of 0.72.

Novartis (NYSE:NVS) last posted its quarterly earnings data on Thursday, July 18th. The company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.10. Novartis had a return on equity of 34.56% and a net margin of 33.76%. The firm had revenue of $12.87 billion during the quarter, compared to analysts’ expectations of $12.24 billion. During the same quarter last year, the business posted $1.83 EPS. On average, sell-side analysts predict that Novartis will post 7.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. raised its stake in shares of Novartis by 36.5% in the 4th quarter. Russell Investments Group Ltd. now owns 3,488 shares of the company’s stock worth $352,000 after buying an additional 933 shares in the last quarter. Aveo Capital Partners LLC lifted its holdings in Novartis by 12.3% in the 4th quarter. Aveo Capital Partners LLC now owns 2,509 shares of the company’s stock valued at $253,000 after acquiring an additional 275 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of Novartis by 6.3% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 6,408 shares of the company’s stock valued at $647,000 after purchasing an additional 377 shares in the last quarter. Merit Financial Group LLC acquired a new position in shares of Novartis in the 4th quarter worth approximately $203,000. Finally, Axxcess Wealth Management LLC raised its holdings in shares of Novartis by 22.5% in the 4th quarter. Axxcess Wealth Management LLC now owns 2,792 shares of the company’s stock worth $282,000 after purchasing an additional 512 shares in the last quarter. 13.12% of the stock is owned by institutional investors and hedge funds.

Novartis Company Profile

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.