Riverhead Capital Management LLC Has $785,000 Position in Novartis AG (NVS)

Riverhead Capital Management LLC continued to hold its stake in Novartis AG (NYSE:NVS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,400 shares of the company’s stock at the close of the second quarter. Riverhead Capital Management LLC’s holdings in Novartis AG were worth $785,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Farr Miller & Washington LLC DC boosted its holdings in Novartis AG by 0.3% in the second quarter. Farr Miller & Washington LLC DC now owns 2,959 shares of the company’s stock valued at $247,000 after acquiring an additional 10 shares during the last quarter. FCG Advisors LLC boosted its holdings in Novartis AG by 0.3% in the second quarter. FCG Advisors LLC now owns 4,271 shares of the company’s stock valued at $357,000 after acquiring an additional 12 shares during the last quarter. Washington Trust Bank boosted its holdings in Novartis AG by 0.3% in the second quarter. Washington Trust Bank now owns 4,384 shares of the company’s stock valued at $366,000 after acquiring an additional 14 shares during the last quarter. North Star Investment Management Corp. lifted its stake in shares of Novartis AG by 1.0% during the second quarter. North Star Investment Management Corp. now owns 1,542 shares of the company’s stock worth $129,000 after purchasing an additional 16 shares in the last quarter. Finally, Ledyard National Bank lifted its stake in shares of Novartis AG by 0.9% during the second quarter. Ledyard National Bank now owns 3,428 shares of the company’s stock worth $286,000 after purchasing an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 10.93% of the company’s stock.

In other news, major shareholder Bioventures Ltd Novartis purchased 266,667 shares of the firm’s stock in a transaction on Wednesday, July 5th. The stock was bought at an average cost of $15.00 per share, for a total transaction of $4,000,005.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.01% of the stock is owned by corporate insiders.

A number of brokerages have commented on NVS. Leerink Swann restated a “market perform” rating and set a $83.00 price objective on shares of Novartis AG in a research note on Thursday, June 22nd. Morgan Stanley restated a “sell” rating on shares of Novartis AG in a research note on Tuesday, June 6th. UBS AG restated a “neutral” rating on shares of Novartis AG in a research note on Wednesday, May 24th. Credit Suisse Group cut Novartis AG from a “neutral” rating to an “underperform” rating and set a $82.25 price objective on the stock. in a research note on Wednesday, July 5th. Finally, Cowen and Company set a $77.00 price objective on Novartis AG and gave the stock a “hold” rating in a research note on Tuesday, July 11th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $83.56.

Novartis AG (NYSE NVS) opened at 85.11 on Tuesday. The firm has a market cap of $199.40 billion, a PE ratio of 31.07 and a beta of 0.74. The company has a 50 day moving average price of $84.28 and a 200 day moving average price of $80.42. Novartis AG has a 1-year low of $66.93 and a 1-year high of $86.90.

Novartis AG (NYSE:NVS) last released its quarterly earnings results on Tuesday, July 18th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $12.24 billion during the quarter, compared to analysts’ expectations of $12.20 billion. During the same period in the prior year, the company earned $1.23 earnings per share. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. On average, equities research analysts forecast that Novartis AG will post $4.75 earnings per share for the current year.

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Novartis AG Company Profile

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.

Institutional Ownership by Quarter for Novartis AG (NYSE:NVS)

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