Lowe Brockenbrough & Co. Inc. raised its position in shares of Novartis AG (NYSE:NVS) by 1.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,754 shares of the company’s stock after buying an additional 380 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in Novartis AG were worth $1,541,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in NVS. Howe & Rusling Inc. raised its stake in Novartis AG by 192.2% in the first quarter. Howe & Rusling Inc. now owns 1,341 shares of the company’s stock worth $100,000 after buying an additional 882 shares during the last quarter. TCI Wealth Advisors Inc. raised its stake in Novartis AG by 20.0% in the first quarter. TCI Wealth Advisors Inc. now owns 1,381 shares of the company’s stock worth $103,000 after buying an additional 230 shares during the last quarter. Archford Capital Strategies LLC raised its stake in Novartis AG by 72.3% in the first quarter. Archford Capital Strategies LLC now owns 1,480 shares of the company’s stock worth $110,000 after buying an additional 621 shares during the last quarter. Kernodle & Katon Asset Management Group LLC raised its stake in Novartis AG by 3.4% in the first quarter. Kernodle & Katon Asset Management Group LLC now owns 1,488 shares of the company’s stock worth $111,000 after buying an additional 49 shares during the last quarter. Finally, North Star Investment Management Corp. raised its stake in Novartis AG by 50.3% in the first quarter. North Star Investment Management Corp. now owns 1,526 shares of the company’s stock worth $113,000 after buying an additional 511 shares during the last quarter. Institutional investors own 11.27% of the company’s stock.
Shares of Novartis AG (NVS) opened at 83.35 on Friday. Novartis AG has a 12 month low of $66.93 and a 12 month high of $86.90. The firm has a market capitalization of $195.28 billion, a P/E ratio of 30.43 and a beta of 0.73. The stock has a 50 day moving average price of $84.17 and a 200 day moving average price of $78.68.
Novartis AG (NYSE:NVS) last issued its quarterly earnings results on Tuesday, July 18th. The company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.16 by $0.06. Novartis AG had a net margin of 13.52% and a return on equity of 15.51%. The firm had revenue of $12.24 billion for the quarter, compared to analysts’ expectations of $12.20 billion. During the same period in the previous year, the firm posted $1.23 EPS. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, analysts expect that Novartis AG will post $4.73 earnings per share for the current year.
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NVS has been the subject of several recent research reports. Leerink Swann reiterated a “market perform” rating and set a $83.00 price objective on shares of Novartis AG in a report on Thursday, June 22nd. Morgan Stanley reiterated a “sell” rating on shares of Novartis AG in a report on Tuesday, June 6th. Zacks Investment Research upgraded Novartis AG from a “strong sell” rating to a “hold” rating in a report on Monday, May 1st. UBS AG reiterated a “neutral” rating on shares of Novartis AG in a report on Wednesday, May 24th. Finally, J P Morgan Chase & Co reiterated a “neutral” rating on shares of Novartis AG in a report on Tuesday, April 18th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $83.56.
In other Novartis AG news, major shareholder Bioventures Ltd Novartis purchased 266,667 shares of the business’s stock in a transaction on Wednesday, July 5th. The shares were purchased at an average cost of $15.00 per share, with a total value of $4,000,005.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.01% of the company’s stock.
About Novartis AG
Novartis AG is a holding company, which provides healthcare solutions. The Company 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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