Novartis AG (NYSE:NVS) Downgraded by Zacks Investment Research to Hold

Remigio Civitarese
Ottobre 18, 2017

Finally, Jacobi Capital Management LLC boosted its position in shares of Novartis AG by 8.8% in the first quarter. As of quarter end Chesley Taft & Associates LLC had bought 1,822 shares growing its stake by 3.0%. Laurel Wealth Advisors Inc. boosted its position in shares of Novartis AG by 7.9% in the first quarter. Argent Trust Co now owns 7,997 shares of the company's stock valued at $594,000 after purchasing an additional 1,452 shares in the last quarter. Kernodle & Katon Asset Management Group LLC now owns 1,488 shares of the company's stock worth $111,000 after acquiring an additional 49 shares during the period.

03/09/2017 - Liberum Capital began new coverage on Novartis AG giving the company a "buy" rating. Blb&b Advisors, LLC now owns 6,625 shares with a value of $569,000. Sowell Financial Services LLC now owns 3,358 shares of the company's stock valued at $273,000 after buying an additional 1,822 shares during the period.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVS.

Novartis AG (NYSE NVS) traded up 0.16% during trading on Friday, reaching $86.27. The Company's occasion and seasonal products include classroom exchange Valentines, infant products, journals, buttons, gift wrap, floral accessories, craft and educational products, Easter egg dyes and novelties, memory books, scrapbooks, stickers, stationery and other items. Novartis AG has a 12-month low of $66.93 and a 12-month high of $86.90. The company's 50-day moving average is $85.27 and its 200 day moving average is $81.90. The firm has a market capitalization of $202.69 billion, a price-to-earnings ratio of 31.5848 and a beta of 0.73.

Novartis AG (NYSE:NVS) last issued its quarterly earnings results on Tuesday, July 18th. The institutional investor held 200,000 shares of the major pharmaceuticals company at the end of 2017Q2, valued at $15.96 million, down from 255,000 at the end of the previous reported quarter. The company had revenue of $11.54 billion during the quarter, compared to analyst estimates of $11.59 billion. Analysts expect next quarter's EPS to be $1.19 with next year's EPS projected to be $5.22. On average, analysts forecast that Novartis AG will post $4.70 earnings per share for the current fiscal year. About 4.36M shares traded or 179.49% up from the average. Societe Generale upgraded Novartis AG from a hold rating to a buy rating and upped their target price for the company from $73.82 to $74.37 in a report on Tuesday, March 7th. Novartis Ag had 31 analyst reports since July 28, 2015 according to SRatingsIntel. J P Morgan Chase & Co reiterated a "neutral" rating on shares of Novartis AG in a research note on Tuesday, September 26th. Leerink Swann reaffirmed a "market perform" rating and set a $83.00 target price on shares of Novartis AG in a report on Thursday, June 22nd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. Cowen & Co maintained Novartis AG (ADR) (NYSE:NVS) rating on Friday, October 13.

COPYRIGHT VIOLATION WARNING: This report was originally published by StockNewsTimes and is the property of of StockNewsTimes. If you are viewing this report on another website, it was illegally copied and republished in violation of US and worldwide copyright law. The original version of this report can be accessed at https://stocknewstimes.com/2017/10/17/wasatch-advisors-inc-has-3-30-million-stake-in-novartis-ag-nvs.html. The value of the company's investment in Novartis AG increased from $440,000 to $569,000 a change of $129,000 quarter to quarter. The Firm is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company's segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.

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