Juncture Wealth Strategies LLC grew its holdings in Novartis AG (NYSE:NVS) by 47.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,000 shares of the company’s stock after purchasing an additional 1,600 shares during the quarter. Juncture Wealth Strategies LLC’s holdings in Novartis were worth $420,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Parnassus Investments CA raised its position in shares of Novartis by 18.5% during the 3rd quarter. Parnassus Investments CA now owns 9,447,817 shares of the company’s stock valued at $811,095,000 after buying an additional 1,477,168 shares during the period. Fisher Asset Management LLC raised its position in shares of Novartis by 2.0% during the 3rd quarter. Fisher Asset Management LLC now owns 6,632,984 shares of the company’s stock valued at $569,442,000 after buying an additional 127,049 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Novartis by 3.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,036,427 shares of the company’s stock valued at $420,390,000 after purchasing an additional 151,115 shares during the last quarter. BlackRock Inc. increased its holdings in Novartis by 25.3% in the 2nd quarter. BlackRock Inc. now owns 3,549,783 shares of the company’s stock valued at $296,299,000 after purchasing an additional 717,186 shares during the last quarter. Finally, State Street Corp increased its holdings in Novartis by 2.3% in the 2nd quarter. State Street Corp now owns 3,046,276 shares of the company’s stock valued at $254,273,000 after purchasing an additional 68,834 shares during the last quarter. 11.06% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently weighed in on NVS. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Novartis in a report on Tuesday, October 24th. Nord/LB reiterated a “neutral” rating on shares of Novartis in a report on Tuesday, January 2nd. Bank of America downgraded shares of Novartis from a “neutral” rating to an “underperform” rating in a report on Wednesday, December 6th. Leerink Swann lifted their target price on shares of Novartis from $89.00 to $91.00 and gave the company a “market perform” rating in a report on Monday, October 23rd. Finally, UBS Group reiterated a “neutral” rating on shares of Novartis in a report on Monday, January 15th. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $85.32.
Novartis AG (NYSE NVS) traded up $1.92 during trading hours on Wednesday, hitting $85.52. 1,745,105 shares of the company’s stock traded hands, compared to its average volume of 1,760,000. The firm has a market capitalization of $222,540.00, a P/E ratio of 26.31, a price-to-earnings-growth ratio of 1.95 and a beta of 0.74. The company has a current ratio of 1.21, a quick ratio of 0.91 and a debt-to-equity ratio of 0.31. Novartis AG has a fifty-two week low of $72.67 and a fifty-two week high of $94.19.
Novartis (NYSE:NVS) last posted its quarterly earnings results on Wednesday, January 24th. The company reported $1.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.04. The business had revenue of $12.92 billion during the quarter, compared to the consensus estimate of $12.65 billion. Novartis had a net margin of 15.69% and a return on equity of 16.03%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.14 earnings per share. research analysts expect that Novartis AG will post 5.36 earnings per share for the current fiscal year.
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Novartis Company 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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