Douglass Winthrop Advisors LLC raised its stake in shares of Novartis (NYSE:NVS) by 3.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 460,641 shares of the company’s stock after purchasing an additional 14,477 shares during the quarter. Novartis accounts for about 1.8% of Douglass Winthrop Advisors LLC’s holdings, making the stock its 19th biggest holding. Douglass Winthrop Advisors LLC’s holdings in Novartis were worth $37,243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently made changes to their positions in NVS. Pinnacle Wealth Planning Services Inc. bought a new stake in Novartis during the fourth quarter valued at approximately $113,000. Calton & Associates Inc. bought a new stake in Novartis during the fourth quarter valued at approximately $118,000. SeaCrest Wealth Management LLC bought a new stake in Novartis during the fourth quarter valued at approximately $124,000. Trustcore Financial Services LLC bought a new stake in Novartis during the fourth quarter valued at approximately $178,000. Finally, Virtue Capital Management LLC bought a new stake in Novartis during the fourth quarter valued at approximately $189,000. Institutional investors and hedge funds own 10.82% of the company’s stock.
Shares of NVS opened at $77.45 on Wednesday. The company has a market capitalization of $179.72 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 1.75 and a beta of 0.76. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.17 and a quick ratio of 0.91. Novartis has a fifty-two week low of $77.39 and a fifty-two week high of $77.89.
Novartis (NYSE:NVS) last announced its quarterly earnings data on Thursday, April 19th. The company reported $1.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.03. The firm had revenue of $12.69 billion during the quarter, compared to analyst estimates of $12.45 billion. Novartis had a net margin of 16.04% and a return on equity of 16.23%. The business’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.13 EPS. equities research analysts expect that Novartis will post 5.28 earnings per share for the current year.
In other Novartis news, major shareholder Institutes For Biomed Novartis acquired 766,666 shares of the stock in a transaction dated Monday, April 23rd. The stock was purchased at an average cost of $15.00 per share, for a total transaction of $11,499,990.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.01% of the company’s stock.
NVS has been the subject of several research analyst reports. Deutsche Bank reiterated a “neutral” rating on shares of Novartis in a research report on Tuesday, April 10th. JPMorgan Chase restated a “neutral” rating on shares of Novartis in a report on Monday, April 9th. Finally, ValuEngine lowered shares of Novartis from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. Novartis currently has a consensus rating of “Hold” and an average price target of $89.81.
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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