Laurel Wealth Advisors Inc. grew its position in Novartis (NYSE:NVS) by 10.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,940 shares of the company’s stock after acquiring an additional 2,064 shares during the quarter. Laurel Wealth Advisors Inc.’s holdings in Novartis were worth $1,758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in NVS. Wealthcare Advisory Partners LLC purchased a new stake in shares of Novartis in the 3rd quarter worth $106,000. Pinnacle Wealth Planning Services Inc. purchased a new stake in shares of Novartis in the 4th quarter worth $113,000. Calton & Associates Inc. bought a new position in shares of Novartis in the 4th quarter worth $118,000. SeaCrest Wealth Management LLC bought a new position in shares of Novartis in the 4th quarter worth $124,000. Finally, Trustcore Financial Services LLC bought a new position in shares of Novartis in the 4th quarter worth $178,000. 10.76% of the stock is currently owned by institutional investors and hedge funds.
NYSE:NVS opened at $80.20 on Friday. Novartis has a one year low of $72.67 and a one year high of $94.19. The company has a quick ratio of 0.91, a current ratio of 1.21 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $187,852.98, a P/E ratio of 16.78, a P/E/G ratio of 1.82 and a beta of 0.74.
Novartis (NYSE:NVS) last posted its quarterly earnings results on Wednesday, January 24th. The company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.16 by $0.04. The firm had revenue of $12.92 billion during 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 quarter last year, the firm earned $1.14 earnings per share. equities research analysts anticipate that Novartis will post 5.33 earnings per share for the current year.
Several research analysts have recently commented on NVS shares. Nord/LB reissued a “neutral” rating on shares of Novartis in a research report on Wednesday, December 27th. Zacks Investment Research lowered Novartis from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. UBS restated a “neutral” rating on shares of Novartis in a research note on Monday, January 15th. Finally, JPMorgan Chase restated a “neutral” rating on shares of Novartis in a research note on Thursday, January 18th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $87.51.
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Novartis AG researches, develops, manufactures, and markets a range of healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines to enhance health outcomes for patients and health-care providers. This segment also commercializes products in the areas of oncology and rare diseases, ophthalmology, immunology and dermatology, neuroscience, respiratory, cardio-metabolic, and established medicines.
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