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.
WARNING: “FineMark National Bank & Trust Invests $9.96 Million in Novartis AG (NVS) Stock” was originally published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this story on another domain, it was stolen and reposted in violation of US and international trademark & copyright legislation. The legal version of this story can be accessed at https://www.dispatchtribunal.com/2018/11/07/finemark-national-bank-trust-invests-9-96-million-in-novartis-ag-nvs-stock.html.
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.
Featured Article: Earnings Per Share (EPS)
Receive News & Ratings for Novartis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novartis and related companies with MarketBeat.com's FREE daily email newsletter.