TrueMark Investments LLC lifted its holdings in Novartis AG (NYSE:NVS – Free Report) by 18.3% in the 2nd quarter, Holdings Channel reports. The firm owned 7,425 shares of the company’s stock after buying an additional 1,150 shares during the quarter. TrueMark Investments LLC’s holdings in Novartis were worth $898,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the business. Curbstone Financial Management Corp lifted its stake in shares of Novartis by 4.4% in the 2nd quarter. Curbstone Financial Management Corp now owns 4,444 shares of the company’s stock valued at $538,000 after purchasing an additional 188 shares during the last quarter. Foster & Motley Inc. lifted its stake in shares of Novartis by 5.4% in the 2nd quarter. Foster & Motley Inc. now owns 19,969 shares of the company’s stock valued at $2,416,000 after purchasing an additional 1,030 shares during the last quarter. Chevy Chase Trust Holdings LLC lifted its stake in shares of Novartis by 3.1% in the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 1,135,326 shares of the company’s stock valued at $137,386,000 after purchasing an additional 33,954 shares during the last quarter. Private Trust Co. NA lifted its stake in shares of Novartis by 6.5% in the 2nd quarter. Private Trust Co. NA now owns 5,891 shares of the company’s stock valued at $713,000 after purchasing an additional 357 shares during the last quarter. Finally, Angeles Wealth Management LLC lifted its stake in shares of Novartis by 26.8% in the 2nd quarter. Angeles Wealth Management LLC now owns 2,685 shares of the company’s stock valued at $325,000 after purchasing an additional 567 shares during the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.
Wall Street Analysts Forecast Growth
NVS has been the subject of several analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Novartis in a research note on Wednesday, October 8th. The Goldman Sachs Group reissued a “sell” rating and set a $118.00 target price (down previously from $119.00) on shares of Novartis in a research report on Friday, September 12th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Novartis in a research report on Thursday, August 21st. Morgan Stanley raised shares of Novartis from an “underweight” rating to an “equal weight” rating and set a $123.00 target price for the company in a research report on Friday, August 8th. Finally, Wall Street Zen raised shares of Novartis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $120.33.
Novartis Stock Up 0.5%
Shares of NVS opened at $131.46 on Friday. The company has a 50-day simple moving average of $126.54 and a 200-day simple moving average of $118.58. The firm has a market capitalization of $277.69 billion, a P/E ratio of 19.13, a P/E/G ratio of 1.82 and a beta of 0.64. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.62 and a current ratio of 0.82. Novartis AG has a 52 week low of $96.06 and a 52 week high of $133.55.
Novartis (NYSE:NVS – Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.04. The business had revenue of $14.05 billion during the quarter, compared to analyst estimates of $13.94 billion. Novartis had a net margin of 25.64% and a return on equity of 41.08%. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.97 earnings per share. On average, equities research analysts expect that Novartis AG will post 8.45 earnings per share for the current year.
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.
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