DZ Bank Initiates Coverage on Novartis (NYSE:NVS)

DZ Bank started coverage on shares of Novartis (NYSE:NVS) in a research note issued to investors on Wednesday, Zacks reports. The firm set a “hold” rating on the stock.

A number of other equities analysts have also recently weighed in on NVS. Bank of America reaffirmed a “buy” rating on shares of Novartis in a research report on Tuesday, September 8th. JPMorgan Chase & Co. restated a “buy” rating on shares of Novartis in a research note on Sunday, August 9th. UBS Group restated a “neutral” rating on shares of Novartis in a research report on Wednesday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Novartis in a research note on Thursday, October 22nd. Finally, Berenberg Bank cut their price objective on Novartis from $147.00 to $130.00 and set a “hold” rating on the stock in a report on Friday, September 11th. Six equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $152.25.

Novartis Stock Up 3.2%

Shares of NVS opened at $161.03 on Wednesday. The company’s 50-day moving average price is $148.32 and its 200 day moving average price is $151.71. Novartis has a 12-month low of $121.98 and a 12-month high of $170.46. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 0.98. The firm has a market cap of $307.28 billion, a P/E ratio of 30.73, a price-to-earnings-growth ratio of 2.91 and a beta of 0.41.

Novartis (NYSE:NVS) last announced its earnings results on Tuesday, October 27th. The company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.21. The company had revenue of $15.03 billion during the quarter, compared to analyst estimates of $14.53 billion. Novartis had a net margin of 18.11% and a return on equity of 41.04%. Novartis’s revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.25 earnings per share. On average, sell-side analysts forecast that Novartis will post 8.94 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NVS. Highland Investment Advisors LLC purchased a new stake in Novartis during the 2nd quarter worth about $25,000. Evolution Wealth Management Inc. boosted its stake in shares of Novartis by 552.0% in the 2nd quarter. Evolution Wealth Management Inc. now owns 163 shares of the company’s stock valued at $26,000 after buying an additional 138 shares during the period. Atlatl Advisers LLC acquired a new position in shares of Novartis during the second quarter worth about $26,000. Archer Investment Corp grew its position in shares of Novartis by 93.0% during the first quarter. Archer Investment Corp now owns 166 shares of the company’s stock worth $25,000 after buying an additional 80 shares in the last quarter. Finally, Silicon Valley Capital Partners increased its stake in shares of Novartis by 519.4% during the second quarter. Silicon Valley Capital Partners now owns 192 shares of the company’s stock worth $30,000 after buying an additional 161 shares during the period. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Novartis Company Profile

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.