BMO Capital Markets Boosts Novartis (NYSE:NVS) Price Target to $116.00

Novartis (NYSE:NVS) had its target price lifted by BMO Capital Markets from $114.00 to $116.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “market perform” rating on the stock. BMO Capital Markets’ target price suggests a potential upside of 18.76% from the stock’s previous close.

Separately, Morgan Stanley started coverage on Novartis in a research report on Tuesday, January 23rd. They issued an “equal weight” rating and a $114.00 target price for the company. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Novartis currently has an average rating of “Moderate Buy” and an average price target of $115.00.

Novartis Trading Up 0.4 %

Shares of NYSE:NVS traded up $0.40 during midday trading on Wednesday, reaching $97.68. 977,523 shares of the company’s stock were exchanged, compared to its average volume of 1,532,881. The firm’s 50 day simple moving average is $97.95 and its two-hundred day simple moving average is $98.99. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.15 and a quick ratio of 0.93. The stock has a market cap of $199.66 billion, a price-to-earnings ratio of 13.59, a P/E/G ratio of 1.55 and a beta of 0.54. Novartis has a fifty-two week low of $92.19 and a fifty-two week high of $108.78.

Novartis (NYSE:NVS) last issued its quarterly earnings data 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 analyst estimates of $11.69 billion. Novartis had a return on equity of 29.90% and a net margin of 29.83%. During the same period in the previous year, the business posted $1.51 earnings per share. As a group, sell-side analysts forecast that Novartis will post 7.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Novartis

Institutional investors and hedge funds have recently made changes to their positions in the stock. Aaron Wealth Advisors LLC grew its position in shares of Novartis by 21.6% during the fourth quarter. Aaron Wealth Advisors LLC now owns 5,904 shares of the company’s stock worth $596,000 after buying an additional 1,050 shares in the last quarter. Syon Capital LLC acquired a new position in shares of Novartis during the third quarter worth about $6,568,000. Prime Capital Investment Advisors LLC lifted its stake in Novartis by 368.3% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 20,251 shares of the company’s stock worth $2,045,000 after purchasing an additional 15,927 shares during the last quarter. Cerity Partners LLC lifted its stake in Novartis by 30.8% during the fourth quarter. Cerity Partners LLC now owns 247,801 shares of the company’s stock worth $25,021,000 after purchasing an additional 58,395 shares during the last quarter. Finally, Mather Group LLC. lifted its stake in Novartis by 8.1% during the third quarter. Mather Group LLC. now owns 7,763 shares of the company’s stock worth $791,000 after purchasing an additional 580 shares during 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.