Novartis (NYSE:NVS) Downgraded by Jefferies Financial Group to Hold

Jefferies Financial Group downgraded shares of Novartis (NYSE:NVS) from a buy rating to a hold rating in a research note released on Tuesday, Marketbeat Ratings reports.

A number of other analysts have also recently commented on NVS. Deutsche Bank Aktiengesellschaft reaffirmed a hold rating on shares of Novartis in a research report on Friday, July 19th. Barclays raised Novartis to a strong sell rating in a report on Monday, June 24th. Finally, The Goldman Sachs Group initiated coverage on shares of Novartis in a report on Thursday, May 30th. They issued a buy rating and a $120.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat, Novartis currently has an average rating of Hold and an average price target of $118.38.

Novartis Stock Performance

NVS opened at $116.70 on Tuesday. The company has a market cap of $238.53 billion, a P/E ratio of 15.75, a price-to-earnings-growth ratio of 1.77 and a beta of 0.57. The company has a quick ratio of 0.72, a current ratio of 0.93 and a debt-to-equity ratio of 0.47. The firm’s 50-day moving average price is $112.66 and its 200-day moving average price is $104.51. Novartis has a 52-week low of $92.19 and a 52-week high of $120.92.

Novartis (NYSE:NVS) last issued its quarterly earnings results on Thursday, July 18th. The company reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.10. Novartis had a net margin of 33.76% and a return on equity of 34.56%. The business had revenue of $12.87 billion for the quarter, compared to analyst estimates of $12.24 billion. During the same quarter in the prior year, the business posted $1.83 EPS. As a group, equities analysts anticipate that Novartis will post 7.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Novartis

Several institutional investors have recently made changes to their positions in NVS. Frazier Financial Advisors LLC acquired a new stake in Novartis in the fourth quarter valued at approximately $26,000. Private Ocean LLC acquired a new stake in Novartis in the 1st quarter valued at $25,000. Richardson Financial Services Inc. purchased a new stake in Novartis in the 4th quarter worth $26,000. New Millennium Group LLC acquired a new position in Novartis during the second quarter worth $28,000. Finally, Clearstead Trust LLC lifted its holdings in Novartis by 73.5% during the first quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock valued at $26,000 after purchasing an additional 114 shares in the last quarter. 13.12% of the stock is owned by hedge funds and other institutional investors.

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.