Bar Harbor Wealth Management Grows Holdings in Novartis AG (NYSE:NVS)

Bar Harbor Wealth Management boosted its holdings in Novartis AG (NYSE:NVS) by 7.3% in the 1st quarter, Holdings Channel reports. The firm owned 3,363 shares of the company’s stock after purchasing an additional 230 shares during the period. Bar Harbor Wealth Management’s holdings in Novartis were worth $375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of NVS. Castlekeep Investment Advisors LLC purchased a new stake in Novartis in the 4th quarter valued at $109,739,000. Raymond James Financial Inc. purchased a new stake in Novartis in the 4th quarter valued at $88,339,000. GAMMA Investing LLC raised its position in Novartis by 14,376.4% in the 1st quarter. GAMMA Investing LLC now owns 727,296 shares of the company’s stock valued at $81,079,000 after purchasing an additional 722,272 shares during the last quarter. Northern Trust Corp raised its position in Novartis by 23.1% in the 4th quarter. Northern Trust Corp now owns 2,132,591 shares of the company’s stock valued at $207,522,000 after purchasing an additional 399,862 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Novartis by 16.0% in the 4th quarter. Renaissance Technologies LLC now owns 2,668,849 shares of the company’s stock valued at $259,706,000 after purchasing an additional 368,171 shares during the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Stock Down 1.2%

Shares of Novartis stock opened at $119.34 on Friday. The company has a market cap of $252.10 billion, a P/E ratio of 20.30, a PEG ratio of 1.70 and a beta of 0.59. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.84 and a current ratio of 1.04. Novartis AG has a one year low of $96.06 and a one year high of $120.92. The firm has a fifty day moving average of $111.84 and a two-hundred day moving average of $107.09.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.16. Novartis had a net margin of 23.56% and a return on equity of 37.24%. The business had revenue of $13.23 billion for the quarter, compared to analysts’ expectations of $12.92 billion. During the same period in the prior year, the company posted $1.80 EPS. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, analysts forecast that Novartis AG will post 8.45 earnings per share for the current year.

Analysts Set New Price Targets

Separately, BNP Paribas upgraded shares of Novartis to a “strong-buy” rating in a research report on Tuesday, April 15th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Novartis has an average rating of “Hold” and a consensus price target of $123.38.

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.