Woodley Farra Manion Portfolio Management Inc. increased its position in Novartis AG (NYSE:NVS) by 4.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 343,609 shares of the company’s stock after purchasing an additional 15,569 shares during the quarter. Novartis AG makes up 3.7% of Woodley Farra Manion Portfolio Management Inc.’s portfolio, making the stock its 12th biggest position. Woodley Farra Manion Portfolio Management Inc.’s holdings in Novartis AG were worth $28,681,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in NVS. CGOV Asset Management increased its position in Novartis AG by 2.5% in the first quarter. CGOV Asset Management now owns 997,161 shares of the company’s stock worth $98,662,000 after purchasing an additional 24,430 shares during the period. Nationwide Fund Advisors increased its position in Novartis AG by 8.1% in the first quarter. Nationwide Fund Advisors now owns 53,616 shares of the company’s stock worth $3,982,000 after purchasing an additional 4,016 shares during the period. Russell Investments Group Ltd. acquired a new stake in Novartis AG in the first quarter worth about $2,740,000. CT Mason increased its position in Novartis AG by 0.8% in the first quarter. CT Mason now owns 40,888 shares of the company’s stock worth $3,037,000 after purchasing an additional 305 shares during the period. Finally, First Trust Advisors LP increased its position in Novartis AG by 16.7% in the first quarter. First Trust Advisors LP now owns 241,842 shares of the company’s stock worth $17,962,000 after purchasing an additional 34,637 shares during the period. Hedge funds and other institutional investors own 10.93% of the company’s stock.
Novartis AG (NYSE NVS) traded down 0.49% during trading on Thursday, hitting $85.36. The stock had a trading volume of 515,107 shares. Novartis AG has a one year low of $66.93 and a one year high of $86.90. The firm has a market capitalization of $199.99 billion, a P/E ratio of 31.16 and a beta of 0.74. The stock has a 50 day moving average of $84.30 and a 200 day moving average of $80.50.
Novartis AG (NYSE:NVS) last released its 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 return on equity of 15.51% and a net margin of 13.52%. The business had revenue of $12.24 billion during the quarter, compared to analysts’ expectations of $12.20 billion. During the same quarter last year, the firm posted $1.23 earnings per share. The firm’s revenue was down 1.8% on a year-over-year basis. Equities research analysts expect that Novartis AG will post $4.75 earnings per share for the current fiscal year.
A number of analysts recently commented on NVS shares. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Novartis AG in a research report on Tuesday, September 5th. BidaskClub upgraded Novartis AG from a “sell” rating to a “hold” rating in a report on Saturday, August 5th. Cowen and Company restated a “hold” rating on shares of Novartis AG in a report on Tuesday, July 18th. UBS AG restated a “neutral” rating on shares of Novartis AG in a report on Tuesday, May 30th. Finally, Zacks Investment Research cut Novartis AG from a “hold” rating to a “sell” rating in a report on Monday, July 10th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company. Novartis AG currently has a consensus rating of “Hold” and a consensus target price of $85.12.
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In other Novartis AG news, major shareholder Bioventures Ltd Novartis bought 266,667 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The stock was acquired at an average price of $15.00 per share, with a total value of $4,000,005.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.01% of the company’s stock.
Novartis AG 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.
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