NEXT Financial Group Inc raised its holdings in shares of Novartis AG (NYSE:NVS) by 32.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,656 shares of the company’s stock after buying an additional 1,381 shares during the period. NEXT Financial Group Inc’s holdings in Novartis were worth $457,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Pinnacle Wealth Planning Services Inc. acquired a new position in Novartis during the fourth quarter valued at approximately $113,000. Archford Capital Strategies LLC acquired a new position in Novartis during the first quarter valued at approximately $149,000. Trustcore Financial Services LLC acquired a new position in Novartis during the fourth quarter valued at approximately $178,000. Virtue Capital Management LLC acquired a new position in shares of Novartis during the fourth quarter worth $189,000. Finally, Private Capital Group LLC lifted its position in shares of Novartis by 410.8% during the first quarter. Private Capital Group LLC now owns 2,467 shares of the company’s stock worth $204,000 after purchasing an additional 1,984 shares in the last quarter. 10.91% of the stock is currently owned by hedge funds and other institutional investors.
In related news, major shareholder Institutes For Biomed Novartis bought 766,666 shares of the company’s stock in a transaction dated Monday, April 23rd. The shares were bought at an average price of $15.00 per share, for a total transaction of $11,499,990.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.01% of the stock is owned by company insiders.
Shares of NYSE:NVS opened at $74.23 on Thursday. Novartis AG has a 12-month low of $73.21 and a 12-month high of $94.19. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.17 and a quick ratio of 0.91. The firm has a market capitalization of $170.50 billion, a P/E ratio of 15.43, a P/E/G ratio of 1.61 and a beta of 0.76.
Novartis (NYSE:NVS) last posted its earnings results on Thursday, April 19th. The company reported $1.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.03. Novartis had a return on equity of 16.23% and a net margin of 16.04%. The company had revenue of $12.69 billion for the quarter, compared to analyst estimates of $12.45 billion. During the same quarter last year, the company earned $1.13 earnings per share. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. equities research analysts predict that Novartis AG will post 5.22 earnings per share for the current year.
A number of research analysts have recently commented on NVS shares. Deutsche Bank reissued a “neutral” rating on shares of Novartis in a research report on Friday, April 20th. Zacks Investment Research cut shares of Novartis from a “hold” rating to a “sell” rating in a research report on Thursday, June 7th. HSBC cut shares of Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, May 29th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Novartis in a research report on Thursday, May 17th. Finally, Credit Suisse Group raised shares of Novartis from an “underperform” rating to a “neutral” rating in a research report on Friday, May 25th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the stock. Novartis has an average 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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