Truehand Inc decreased its stake in shares of Novartis AG (NYSE:NVS) by 17.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,161 shares of the company’s stock after selling 253 shares during the period. Truehand Inc’s holdings in Novartis were worth $101,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Asset Dedication LLC increased its stake in Novartis by 98.7% during the 2nd quarter. Asset Dedication LLC now owns 304 shares of the company’s stock valued at $27,000 after buying an additional 151 shares during the period. Moneta Group Investment Advisors LLC grew its stake in shares of Novartis by 795.8% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 2,750 shares of the company’s stock worth $27,000 after purchasing an additional 2,443 shares during the last quarter. Vigilant Capital Management LLC acquired a new position in shares of Novartis in the 2nd quarter worth approximately $37,000. Anderson Fisher LLC acquired a new position in shares of Novartis in the 2nd quarter worth approximately $39,000. Finally, Manchester Financial Inc. acquired a new position in shares of Novartis in the 2nd quarter worth approximately $45,000. 11.19% of the stock is currently owned by hedge funds and other institutional investors.
NVS has been the topic of several recent research reports. Argus lifted their price objective on shares of Novartis to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. They noted that the move was a valuation call. ValuEngine cut shares of Novartis from a “hold” rating to a “sell” rating in a research note on Thursday, September 12th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Novartis in a research note on Thursday, August 29th. Kepler Capital Markets cut shares of Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Zacks Investment Research cut shares of Novartis from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a research note on Friday, July 19th. Five investment analysts have rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Novartis presently has a consensus rating of “Hold” and a consensus price target of $93.29.
Shares of NVS traded up $0.38 during midday trading on Wednesday, hitting $85.70. The stock had a trading volume of 71,274 shares, compared to its average volume of 2,250,456. Novartis AG has a fifty-two week low of $71.86 and a fifty-two week high of $95.00. The business has a 50-day simple moving average of $87.87 and a two-hundred day simple moving average of $88.02. The firm has a market cap of $195.77 billion, a P/E ratio of 16.83, a price-to-earnings-growth ratio of 2.29 and a beta of 0.59. The company has a current ratio of 0.94, a quick ratio of 0.74 and a debt-to-equity ratio of 0.43.
Novartis (NYSE:NVS) last announced its earnings results on Thursday, July 18th. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.20 by $0.14. Novartis had a net margin of 23.27% and a return on equity of 18.55%. The company had revenue of $11.76 billion during the quarter, compared to analysts’ expectations of $11.45 billion. During the same period last year, the company posted $1.29 earnings per share. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, analysts expect that Novartis AG will post 5.15 earnings per share for the current fiscal year.
Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.
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