FineMark National Bank & Trust Invests $9.96 Million in Novartis AG (NVS) Stock

FineMark National Bank & Trust acquired a new stake in Novartis AG (NYSE:NVS) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 115,598 shares of the company’s stock, valued at approximately $9,960,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Novartis by 13.7% during the 2nd 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 during the period. Fosun International Ltd bought a new position in shares of Novartis during the 2nd quarter valued at $468,000. Neuburgh Advisers LLC lifted its holdings in shares of Novartis by 13.0% during the 2nd 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 during the period. Carillon Tower Advisers Inc. lifted its holdings in shares of Novartis by 16.9% during the 2nd quarter. Carillon Tower Advisers Inc. now owns 163,661 shares of the company’s stock valued at $12,363,000 after buying an additional 23,605 shares during the period. Finally, Cox Capital Co LLC bought a new position in shares of Novartis during the 2nd quarter valued at $1,399,000. 10.95% of the stock is currently owned by institutional investors and hedge funds.

NYSE:NVS opened at $87.92 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 1.20 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $202.08 billion, a PE ratio of 18.28, a P/E/G ratio of 1.93 and a beta of 0.73. Novartis AG has a one year low of $72.30 and a one year high of $94.19.

Novartis (NYSE:NVS) last posted its quarterly earnings data on Thursday, October 18th. The company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.31 by $0.01. The firm had revenue of $12.78 billion during the quarter, compared to analyst estimates of $12.88 billion. Novartis had a return on equity of 15.81% and a net margin of 25.98%. Novartis’s revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.29 EPS. Sell-side analysts expect that Novartis AG will post 5.17 EPS for the current fiscal year.

Several equities analysts have recently weighed in on the company. ValuEngine raised Novartis from a “strong sell” rating to a “sell” rating in a report on Thursday, July 19th. Citigroup upgraded Novartis from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 11th. JPMorgan Chase & Co. restated a “neutral” rating on shares of Novartis in a research note on Tuesday. Guggenheim began coverage on Novartis in a research note on Monday, October 8th. They issued a “neutral” rating for the company. Finally, DZ Bank restated a “buy” rating on shares of Novartis in a research note on Thursday, July 19th. Twelve investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $84.86.

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Novartis Profile

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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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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