Ardsley Advisory Partners bought a new stake in Novartis AG (NYSE:NVS) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,000 shares of the company’s stock, valued at approximately $334,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. City Holding Co. increased its holdings in Novartis AG by 4.6% during the 2nd quarter. City Holding Co. now owns 1,217 shares of the company’s stock worth $102,000 after purchasing an additional 54 shares in the last quarter. WFG Advisors LP boosted its stake in shares of Novartis AG by 38.1% in the 2nd quarter. WFG Advisors LP now owns 1,221 shares of the company’s stock worth $102,000 after buying an additional 337 shares during the last quarter. Archford Capital Strategies LLC boosted its stake in shares of Novartis AG by 72.3% in the 1st quarter. Archford Capital Strategies LLC now owns 1,480 shares of the company’s stock worth $110,000 after buying an additional 621 shares during the last quarter. Kernodle & Katon Asset Management Group LLC lifted its stake in Novartis AG by 3.4% in the first quarter. Kernodle & Katon Asset Management Group LLC now owns 1,488 shares of the company’s stock valued at $111,000 after purchasing an additional 49 shares during the last quarter. Finally, Massey Quick & Co. LLC purchased a new position in Novartis AG in the first quarter valued at approximately $119,000. 10.94% of the stock is owned by hedge funds and other institutional investors.
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Novartis AG (NVS) traded down 0.15% on Friday, hitting $80.79. 2,157,252 shares of the stock traded hands. Novartis AG has a 52-week low of $66.93 and a 52-week high of $86.90. The company’s 50 day moving average price is $85.52 and its 200-day moving average price is $82.47. The stock has a market cap of $189.28 billion, a price-to-earnings ratio of 29.50 and a beta of 0.73.
Novartis AG (NYSE:NVS) last announced its quarterly earnings results on Tuesday, October 24th. The company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.04. The business had revenue of $12.41 billion during the quarter, compared to analysts’ expectations of $12.21 billion. Novartis AG had a net margin of 13.73% and a return on equity of 15.77%. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the business earned $1.23 earnings per share. On average, analysts forecast that Novartis AG will post $4.75 earnings per share for the current fiscal year.
Several equities analysts recently commented on the company. Zacks Investment Research upgraded Novartis AG from a “hold” rating to a “buy” rating and set a $96.00 price objective on the stock in a research note on Tuesday, September 19th. Morgan Stanley upgraded Novartis AG from an “underweight” rating to an “overweight” rating in a research note on Wednesday, July 26th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Novartis AG in a research note on Tuesday. Barclays PLC downgraded Novartis AG from an “equal weight” rating to an “underweight” rating in a research note on Wednesday. Finally, Credit Suisse Group downgraded 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. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $85.28.
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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