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

Novartis (NYSE:NVS) had its target price boosted by BMO Capital Markets from $114.00 to $116.00 in a research report released on Wednesday morning, Benzinga reports. BMO Capital Markets currently has a market perform rating on the stock.

Separately, Morgan Stanley assumed coverage on Novartis in a research report on Tuesday, January 23rd. They set an equal weight rating and a $114.00 price target for the company.

Novartis Stock Performance

Shares of NVS opened at $97.44 on Wednesday. The stock has a 50-day moving average of $97.87 and a two-hundred day moving average of $98.99. Novartis has a one year low of $92.19 and a one year high of $108.78. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.93 and a current ratio of 0.90. The stock has a market cap of $199.17 billion, a P/E ratio of 13.15, a P/E/G ratio of 1.59 and a beta of 0.54.

Novartis (NYSE:NVS) last issued its quarterly earnings results on Tuesday, January 30th. The company reported $1.53 EPS for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.11). Novartis had a return on equity of 32.15% and a net margin of 31.33%. The firm had revenue of $11.42 billion for the quarter, compared to analyst estimates of $11.69 billion. During the same period in the prior year, the firm posted $1.51 EPS. As a group, research analysts predict that Novartis will post 7.22 EPS for the current year.

Novartis Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, March 8th were issued a $3.7772 dividend. This represents a dividend yield of 3.1%. The ex-dividend date was Thursday, March 7th. This is a boost from Novartis’s previous annual dividend of $3.47. Novartis’s payout ratio is 32.79%.

Hedge Funds Weigh In On Novartis

Several institutional investors and hedge funds have recently modified their holdings of NVS. Caprock Group LLC lifted its holdings in shares of Novartis by 6.9% in the 3rd quarter. Caprock Group LLC now owns 15,921 shares of the company’s stock valued at $1,622,000 after buying an additional 1,034 shares during the period. Aaron Wealth Advisors LLC raised its holdings in Novartis by 9.2% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 4,854 shares of the company’s stock worth $494,000 after purchasing an additional 408 shares during the period. HWG Holdings LP raised its holdings in Novartis by 5.6% in the 3rd quarter. HWG Holdings LP now owns 2,418 shares of the company’s stock worth $246,000 after purchasing an additional 128 shares during the period. Simplicity Solutions LLC raised its holdings in Novartis by 0.8% in the 3rd quarter. Simplicity Solutions LLC now owns 44,965 shares of the company’s stock worth $4,580,000 after purchasing an additional 342 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC raised its holdings in Novartis by 32.8% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,223 shares of the company’s stock worth $532,000 after purchasing an additional 1,291 shares during the period. Institutional investors and hedge funds 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.