Holistic Financial Partners bought a new position in shares of Novartis AG (NYSE:NVS) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,497 shares of the company’s stock, valued at approximately $301,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Commerzbank Aktiengesellschaft FI boosted its stake in Novartis by 13.7% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 48,425 shares of the company’s stock valued at $3,658,000 after buying an additional 5,823 shares in the last quarter. Fosun International Ltd acquired a new stake in Novartis in the second quarter valued at about $468,000. Neuburgh Advisers LLC boosted its stake in Novartis by 13.0% in the second quarter. Neuburgh Advisers LLC now owns 22,984 shares of the company’s stock valued at $1,736,000 after buying an additional 2,652 shares in the last quarter. Carillon Tower Advisers Inc. boosted its stake in shares of Novartis by 16.9% during the second quarter. Carillon Tower Advisers Inc. now owns 163,661 shares of the company’s stock valued at $12,363,000 after purchasing an additional 23,605 shares in the last quarter. Finally, Cox Capital Co LLC acquired a new stake in shares of Novartis during the second quarter valued at about $1,399,000. 10.95% of the stock is currently owned by institutional investors.
Shares of NVS stock opened at $87.92 on Wednesday. Novartis AG has a 12 month low of $72.30 and a 12 month high of $94.19. The stock has a market cap of $202.08 billion, a PE ratio of 18.28, a PEG ratio of 1.93 and a beta of 0.73. The company has a current ratio of 1.20, a quick ratio of 0.96 and a debt-to-equity ratio of 0.29.
Novartis (NYSE:NVS) last announced its quarterly earnings results on Thursday, October 18th. The company reported $1.32 EPS for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.01. Novartis had a return on equity of 15.81% and a net margin of 25.98%. The firm had revenue of $12.78 billion for the quarter, compared to analyst estimates of $12.88 billion. During the same period last year, the firm posted $1.29 earnings per share. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. Equities analysts predict that Novartis AG will post 5.17 EPS for the current year.
A number of analysts have recently commented on the company. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Novartis in a research note on Tuesday. BNP Paribas raised Novartis from an “underperform” rating to a “neutral” rating in a research note on Tuesday, September 11th. Barclays raised Novartis from an “underweight” rating to an “equal weight” rating in a research note on Thursday, July 19th. Wolfe Research assumed coverage on Novartis in a research note on Tuesday, October 23rd. They set an “outperform” rating on the stock. Finally, Exane BNP Paribas raised Novartis from an “underperform” rating to a “neutral” rating in a research note on Tuesday, September 11th. Twelve research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $84.86.
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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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