Jones Financial Companies Lllp grew its stake in Novartis AG (NYSE:NVS) by 1.1% in the third quarter, Holdings Channel reports. The institutional investor owned 110,510 shares of the company’s stock after buying an additional 1,251 shares during the period. Jones Financial Companies Lllp’s holdings in Novartis were worth $9,522,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Howe & Rusling Inc. increased its stake in shares of Novartis by 50.9% in the third quarter. Howe & Rusling Inc. now owns 1,705 shares of the company’s stock worth $147,000 after acquiring an additional 575 shares during the period. Palisade Asset Management LLC grew its position in Novartis by 2.7% during the third quarter. Palisade Asset Management LLC now owns 22,117 shares of the company’s stock valued at $1,906,000 after buying an additional 588 shares during the period. Ferguson Wellman Capital Management Inc. grew its position in Novartis by 9.2% during the third quarter. Ferguson Wellman Capital Management Inc. now owns 7,000 shares of the company’s stock valued at $603,000 after buying an additional 590 shares during the period. LeJeune Puetz Investment Counsel LLC grew its position in Novartis by 11.3% during the third quarter. LeJeune Puetz Investment Counsel LLC now owns 5,925 shares of the company’s stock valued at $510,000 after buying an additional 600 shares during the period. Finally, Dempze Nancy E grew its position in Novartis by 2.4% during the third quarter. Dempze Nancy E now owns 25,560 shares of the company’s stock valued at $2,203,000 after buying an additional 608 shares during the period. 10.99% of the stock is owned by institutional investors and hedge funds.
NVS stock opened at $87.75 on Monday. The company has a current ratio of 1.20, a quick ratio of 0.96 and a debt-to-equity ratio of 0.29. The firm has a market cap of $203.36 billion, a P/E ratio of 18.24, a PEG ratio of 1.94 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 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.01. The business had revenue of $12.78 billion for the quarter, compared to the consensus estimate of $12.88 billion. Novartis had a net margin of 25.98% and a return on equity of 15.81%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same period last year, the firm posted $1.29 earnings per share. Research analysts predict that Novartis AG will post 5.17 earnings per share for the current year.
Several research firms recently commented on NVS. Citigroup upgraded shares of Novartis from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 11th. JPMorgan Chase & Co. restated a “neutral” rating on shares of Novartis in a research report on Tuesday, November 6th. Guggenheim began coverage on shares of Novartis in a research report on Monday, October 8th. They set a “neutral” rating on the stock. Zacks Investment Research upgraded shares of Novartis from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a research report on Tuesday, September 18th. Finally, Exane BNP Paribas upgraded shares of Novartis from an “underperform” rating to a “neutral” rating in a research report on Tuesday, September 11th. Eleven research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Novartis currently has a consensus rating of “Hold” and a consensus target price 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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