Vestpro Financial Partners Inc. dba CPF Texas acquired a new stake in shares of Novartis AG (NYSE:NVS) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 10,067 shares of the company’s stock, valued at approximately $845,000.
Several other institutional investors have also added to or reduced their stakes in NVS. Parnassus Investments CA boosted its position in shares of Novartis by 18.5% during the third 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 last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of Novartis during the second quarter valued at $29,576,000. Boston Partners boosted its position in shares of Novartis by 14.9% during the third quarter. Boston Partners now owns 1,857,435 shares of the company’s stock valued at $159,461,000 after buying an additional 240,573 shares during the last quarter. Amundi Pioneer Asset Management Inc. boosted its position in shares of Novartis by 228.8% during the third quarter. Amundi Pioneer Asset Management Inc. now owns 317,300 shares of the company’s stock valued at $27,240,000 after buying an additional 220,800 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in shares of Novartis by 2.8% during the fourth quarter. Fisher Asset Management LLC now owns 6,816,625 shares of the company’s stock valued at $572,324,000 after buying an additional 183,641 shares during the last quarter. 11.06% of the stock is currently owned by institutional investors.
Several equities research analysts recently commented on NVS shares. Leerink Swann increased their price objective on Novartis from $89.00 to $91.00 and gave the company a “market perform” rating in a research report on Monday, October 23rd. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Novartis in a research report on Tuesday, October 24th. Barclays cut Novartis from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, October 25th. Zacks Investment Research raised Novartis from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Finally, Bank of America cut Novartis from a “neutral” rating to an “underperform” rating in a research report on Wednesday, December 6th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $85.32.
Novartis AG (NVS) opened at $86.69 on Friday. The stock has a market capitalization of $198,188.83, a PE ratio of 26.67, a price-to-earnings-growth ratio of 1.99 and a beta of 0.73. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.21 and a quick ratio of 0.91. Novartis AG has a 12-month low of $72.67 and a 12-month high of $94.19.
Novartis (NYSE:NVS) last announced its earnings results on Wednesday, January 24th. The company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.04. The business had revenue of $12.92 billion for the quarter, compared to analysts’ expectations of $12.65 billion. Novartis had a return on equity of 16.03% and a net margin of 15.69%. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period last year, the firm posted $1.14 earnings per share. equities analysts anticipate that Novartis AG will post 5.36 EPS for the current fiscal year.
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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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