Novartis (NYSE:NVS) Coverage Initiated by Analysts at DZ Bank

Key Points

• DZ Bank initiated coverage of Novartis with a “hold” rating. The broader analyst consensus is also “Hold,” based on six Buy, ten Hold and two Sell ratings, with a consensus price target of $152.25.
• Novartis shares opened at $161.03, up 3.2%, and remain within their 52-week range of $121.98 to $170.46. The company has a market capitalization of approximately $307.3 billion.
• Novartis exceeded quarterly expectations, reporting $2.46 in EPS versus the $2.25 consensus and revenue of $15.03 billion versus $14.53 billion expected. Revenue increased 4.4% year over year.

Equities research analysts at DZ Bank assumed coverage on shares of Novartis (NYSE:NVS - Get Free Report) in a research note issued to investors on Wednesday, Zacks reports. The firm set a "hold" rating on the stock.

NVS has been the subject of a number of other research reports. HSBC raised shares of Novartis from a "reduce" rating to a "hold" rating and boosted their price objective for the company from $123.00 to $136.00 in a research report on Thursday, September 10th. Royal Bank Of Canada restated a "sector perform" rating on shares of Novartis in a research report on Wednesday. Sanford C. Bernstein reaffirmed a "neutral" rating on shares of Novartis in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. reiterated a "buy" rating on shares of Novartis in a report on Sunday, August 9th. Finally, Berenberg Bank reduced their price target on Novartis from $147.00 to $130.00 and set a "hold" rating on the stock in a research note on Friday, September 11th. Six investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Novartis has a consensus rating of "Hold" and a consensus target price of $152.25.

Novartis Trading Up 3.2%

Novartis stock opened at $161.03 on Wednesday. The stock has a 50-day moving average price of $148.32 and a 200 day moving average price of $151.71. Novartis has a 52 week low of $121.98 and a 52 week high of $170.46. The stock has a market cap of $307.28 billion, a PE ratio of 30.73, a P/E/G ratio of 2.91 and a beta of 0.41. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 0.98.

Novartis (NYSE:NVS - Get Free Report) last released its earnings results on Tuesday, October 27th. The company reported $2.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.25 by $0.21. Novartis had a net margin of 18.11% and a return on equity of 41.04%. The company had revenue of $15.03 billion for the quarter, compared to analyst estimates of $14.53 billion. During the same period in the prior year, the firm earned $2.25 EPS. The firm's quarterly revenue was up 4.4% on a year-over-year basis. Equities research analysts predict that Novartis will post 8.94 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Novartis

A number of hedge funds have recently made changes to their positions in NVS. Archer Investment Corp increased its holdings in Novartis by 93.0% during the 1st quarter. Archer Investment Corp now owns 166 shares of the company's stock worth $25,000 after purchasing an additional 80 shares during the last quarter. Highland Investment Advisors LLC purchased a new position in shares of Novartis during the 2nd quarter valued at approximately $25,000. Evolution Wealth Management Inc. boosted its stake in shares of Novartis by 552.0% during 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 last quarter. Atlatl Advisers LLC purchased a new position in shares of Novartis during the 2nd quarter valued at approximately $26,000. Finally, Curry Webb Wealth Management LLC acquired a new stake in shares of Novartis during the third quarter worth approximately $28,000. Institutional investors and hedge funds own 13.12% of the company's stock.

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.

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