Novartis (NYSE:NVS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, June 19th.
According to Zacks, “Novartis has a strong oncology portfolio of drugs like Afinitor, Exjade, Jakavi, Zykadia, Tasigna, Jadenu and Kisqali, which continue to boost sales. The approval of Kymriah for acute lymphoblastic leukemia is a major boost, given the potential in the CAR-T therapy space. Novartis is looking to solidify its presence in the attractive gene therapy space with the acquisition of U.S.-based clinical stage gene therapy company, AveXis, Inc. New drugs like Cosentyx and Entresto continue to perform well and boost the top-line. However, the generic division, Sandoz continues to face pricing pressure and sales are projected to decline. The division also suffered a blow when the FDA issued a CRL to its generic Advair Diskus. The loss of patent protection for some of the key drugs is also a cause of concern. Shares have underperformed the industry in the year so far.”
NVS has been the topic of several other research reports. Credit Suisse Group raised Novartis from an “underperform” rating to a “neutral” rating in a research note on Friday, May 25th. ValuEngine lowered Novartis from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Novartis in a research note on Monday, April 9th. Deutsche Bank reaffirmed a “neutral” rating on shares of Novartis in a research note on Tuesday, April 10th. Finally, HSBC lowered Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, May 29th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company’s stock. Novartis has a consensus rating of “Hold” and a consensus target price of $89.81.
NYSE NVS opened at $75.54 on Tuesday. The firm has a market cap of $169.17 billion, a price-to-earnings ratio of 15.70, a P/E/G ratio of 1.60 and a beta of 0.76. The company has a current ratio of 1.17, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. Novartis has a fifty-two week low of $72.30 and a fifty-two week high of $94.19.
Novartis (NYSE:NVS) last released its quarterly earnings data on Thursday, April 19th. The company reported $1.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.03. The company had revenue of $12.69 billion for the quarter, compared to analyst estimates of $12.45 billion. Novartis had a return on equity of 16.23% and a net margin of 16.04%. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.13 earnings per share. equities analysts anticipate that Novartis will post 5.22 EPS for the current year.
In other news, major shareholder Institutes For Biomed Novartis acquired 766,666 shares of the business’s stock in a transaction that occurred on Monday, April 23rd. The shares were purchased at an average price of $15.00 per share, for a total transaction of $11,499,990.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.01% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of the stock. Brown Advisory Inc. raised its holdings in shares of Novartis by 1.5% in the 1st quarter. Brown Advisory Inc. now owns 372,806 shares of the company’s stock valued at $30,142,000 after buying an additional 5,554 shares during the period. Winthrop Partners WNY LLC purchased a new stake in shares of Novartis in the 1st quarter valued at $100,000. Summit Trail Advisors LLC raised its holdings in shares of Novartis by 24.1% in the 1st quarter. Summit Trail Advisors LLC now owns 23,020 shares of the company’s stock valued at $1,483,000 after buying an additional 4,473 shares during the period. CIBC World Markets Inc. raised its holdings in shares of Novartis by 161.6% in the 1st quarter. CIBC World Markets Inc. now owns 88,253 shares of the company’s stock valued at $7,135,000 after buying an additional 54,512 shares during the period. Finally, EagleClaw Capital Managment LLC raised its holdings in shares of Novartis by 3.5% in the 1st quarter. EagleClaw Capital Managment LLC now owns 20,596 shares of the company’s stock valued at $1,664,000 after buying an additional 700 shares during the period. Hedge funds and other institutional investors own 10.91% of the company’s stock.
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.
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