Novartis (NYSE:NVS) Given New $116.00 Price Target at BMO Capital Markets

Novartis (NYSE:NVS - Get Free Report) had its target price upped by equities researchers at BMO Capital Markets from $114.00 to $116.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a "market perform" rating on the stock. BMO Capital Markets' price target would suggest a potential upside of 17.95% from the company's previous close.

Separately, Morgan Stanley initiated coverage on shares of Novartis in a report on Tuesday, January 23rd. They issued an "equal weight" rating and a $114.00 price target for the company. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $115.00.

Novartis Price Performance

Shares of NVS stock traded up $1.07 during mid-day trading on Wednesday, hitting $98.35. 2,233,202 shares of the stock were exchanged, compared to its average volume of 1,549,095. The company has a quick ratio of 0.93, a current ratio of 1.15 and a debt-to-equity ratio of 0.39. Novartis has a 52-week low of $92.19 and a 52-week high of $108.78. The firm has a fifty day moving average of $97.95 and a 200 day moving average of $98.99. The company has a market cap of $201.03 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 1.55 and a beta of 0.54.

Novartis (NYSE:NVS - Get Free Report) last issued its quarterly earnings results on Tuesday, January 30th. The company reported $1.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.64 by ($0.11). The business had revenue of $11.42 billion for the quarter, compared to analysts' expectations of $11.69 billion. Novartis had a return on equity of 29.90% and a net margin of 29.83%. During the same quarter in the prior year, the company posted $1.51 EPS. Research analysts anticipate that Novartis will post 7.13 earnings per share for the current year.

Institutional Investors Weigh In On Novartis

Large investors have recently bought and sold shares of the stock. Wellington Management Group LLP grew its holdings in Novartis by 1.2% during the 4th quarter. Wellington Management Group LLP now owns 4,746,599 shares of the company's stock worth $479,264,000 after acquiring an additional 54,683 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Novartis by 2.1% in the 3rd quarter. Principal Financial Group Inc. now owns 2,539,265 shares of the company's stock valued at $258,650,000 after acquiring an additional 51,391 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Novartis by 50.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 2,049,901 shares of the company's stock worth $208,803,000 after acquiring an additional 686,847 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in Novartis by 167.6% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,827,263 shares of the company's stock valued at $186,125,000 after purchasing an additional 1,144,307 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in Novartis by 2.4% in the fourth quarter. Fisher Asset Management LLC now owns 1,442,003 shares of the company's stock valued at $145,599,000 after purchasing an additional 33,791 shares during the last quarter. Hedge funds and other institutional investors own 13.12% of the company's stock.

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.