Novartis (NVS) Lowered to “Sell” at Barclays

Barclays lowered shares of Novartis (NYSE:NVS) from an equal weight rating to a sell rating in a research report released on Friday morning, The Fly reports.

Several other equities research analysts have also issued reports on the company. Zacks Investment Research raised Novartis from a hold rating to a buy rating and set a $95.00 price objective for the company in a research note on Tuesday, September 18th. Citigroup raised Novartis from a neutral rating to a buy rating in a research note on Tuesday, September 11th. Wolfe Research started coverage on Novartis in a research note on Tuesday, October 23rd. They issued an outperform rating for the company. Bank of America raised Novartis from an underperform rating to a buy rating and set a $74.71 price objective for the company in a research note on Monday, September 10th. Finally, Goldman Sachs Group raised Novartis from a neutral rating to a conviction-buy rating in a research note on Friday, November 16th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $85.91.

Shares of NYSE:NVS traded down $1.97 during trading on Friday, hitting $87.08. The company had a trading volume of 2,925,759 shares, compared to its average volume of 2,504,182. The firm has a market capitalization of $205.71 billion, a price-to-earnings ratio of 18.10, a PEG ratio of 1.97 and a beta of 0.74. Novartis has a one year low of $72.30 and a one year high of $94.19. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.20 and a quick ratio of 0.96.

Novartis (NYSE:NVS) last posted its quarterly earnings data on Thursday, October 18th. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.01. The business had revenue of $12.78 billion during the quarter, compared to analyst estimates of $12.88 billion. Novartis had a return on equity of 15.81% and a net margin of 25.98%. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period last year, the company earned $1.29 EPS. As a group, analysts expect that Novartis will post 5.17 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Dodge & Cox raised its holdings in shares of Novartis by 0.5% in the third quarter. Dodge & Cox now owns 44,361,387 shares of the company’s stock worth $3,822,177,000 after buying an additional 229,525 shares during the period. Primecap Management Co. CA raised its holdings in shares of Novartis by 0.5% in the third quarter. Primecap Management Co. CA now owns 22,241,721 shares of the company’s stock worth $1,916,347,000 after buying an additional 110,563 shares during the period. Fisher Asset Management LLC raised its holdings in shares of Novartis by 1.4% in the third quarter. Fisher Asset Management LLC now owns 7,425,077 shares of the company’s stock worth $639,745,000 after buying an additional 99,816 shares during the period. Loomis Sayles & Co. L P raised its holdings in shares of Novartis by 1.9% in the third quarter. Loomis Sayles & Co. L P now owns 7,345,919 shares of the company’s stock worth $632,925,000 after buying an additional 136,220 shares during the period. Finally, Charles Schwab Investment Advisory Inc. purchased a new stake in shares of Novartis in the second quarter worth approximately $297,538,000. Hedge funds and other institutional investors own 11.20% of the company’s stock.

Novartis Company Profile

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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Analyst Recommendations for Novartis (NYSE:NVS)

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