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

Novartis (NYSE:NVS) had its target price upped by analysts 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 objective would suggest a potential upside of 18.76% from the company’s previous close.

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

Novartis Stock Up 0.4 %

Shares of NVS traded up $0.40 during trading hours on Wednesday, reaching $97.68. 977,523 shares of the stock traded hands, compared to its average volume of 1,532,881. The company has a current ratio of 1.15, a quick ratio of 0.93 and a debt-to-equity ratio of 0.39. The stock has a fifty day simple moving average of $97.95 and a 200 day simple moving average of $98.99. Novartis has a 52 week low of $92.19 and a 52 week high of $108.78. The company has a market cap of $199.66 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 1.55 and a beta of 0.54.

Novartis (NYSE:NVS) last released its quarterly earnings results on Tuesday, January 30th. The company reported $1.53 earnings per share for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.11). Novartis had a net margin of 29.83% and a return on equity of 29.90%. The firm had revenue of $11.42 billion for the quarter, compared to the consensus estimate of $11.69 billion. During the same period in the previous year, the business earned $1.51 earnings per share. On average, equities analysts forecast that Novartis will post 7.13 EPS for the current year.

Institutional Trading of Novartis

Several hedge funds and other institutional investors have recently modified their holdings of the business. Murphy Middleton Hinkle & Parker Inc. raised its position in shares of Novartis by 4.9% in the fourth quarter. Murphy Middleton Hinkle & Parker Inc. now owns 2,072 shares of the company’s stock valued at $209,000 after purchasing an additional 97 shares during the period. Pinnacle Bancorp Inc. grew its stake in Novartis by 2.8% during the fourth quarter. Pinnacle Bancorp Inc. now owns 3,641 shares of the company’s stock valued at $368,000 after acquiring an additional 98 shares in the last quarter. Optimum Investment Advisors grew its stake in Novartis by 23.3% during the fourth quarter. Optimum Investment Advisors now owns 530 shares of the company’s stock valued at $54,000 after acquiring an additional 100 shares in the last quarter. Chesley Taft & Associates LLC grew its stake in Novartis by 0.3% during the fourth quarter. Chesley Taft & Associates LLC now owns 33,062 shares of the company’s stock valued at $3,338,000 after acquiring an additional 100 shares in the last quarter. Finally, Means Investment CO. Inc. grew its stake in Novartis by 1.3% during the fourth quarter. Means Investment CO. Inc. now owns 8,074 shares of the company’s stock valued at $815,000 after acquiring an additional 103 shares in the last quarter. Institutional investors own 13.12% of the company’s stock.

About Novartis

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.