Cpwm LLC bought a new position in Novartis AG (NYSE:NVS) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,514 shares of the company’s stock, valued at approximately $303,000.
A number of other hedge funds have also recently modified their holdings of NVS. Stelac Advisory Services LLC bought a new stake in shares of Novartis during the 3rd quarter worth about $113,000. Columbia Asset Management bought a new stake in shares of Novartis during the 3rd quarter worth about $126,000. Quad Cities Investment Group LLC bought a new stake in shares of Novartis during the 2nd quarter worth about $139,000. Howe & Rusling Inc. boosted its stake in shares of Novartis by 50.9% during the 3rd quarter. Howe & Rusling Inc. now owns 1,705 shares of the company’s stock worth $147,000 after acquiring an additional 575 shares in the last quarter. Finally, Monument Capital Management boosted its stake in shares of Novartis by 190.8% during the 3rd quarter. Monument Capital Management now owns 1,716 shares of the company’s stock worth $148,000 after acquiring an additional 1,126 shares in the last quarter. 11.20% of the stock is currently owned by institutional investors.
NVS has been the subject of several recent analyst reports. Goldman Sachs Group upgraded Novartis from a “neutral” rating to a “conviction-buy” rating in a research note on Friday, November 16th. Bank of America upgraded Novartis from an “underperform” rating to a “buy” rating and set a $74.71 price target for the company in a research note on Monday, September 10th. Zacks Investment Research downgraded Novartis from a “hold” rating to a “sell” rating in a research note on Wednesday, August 29th. JPMorgan Chase & Co. restated a “neutral” rating on shares of Novartis in a research note on Thursday, October 18th. Finally, Cowen upgraded Novartis from a “market perform” rating to an “outperform” rating and set a $88.03 target price for the company in a research note on Sunday, December 2nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $85.91.
Shares of NYSE:NVS opened at $87.08 on Friday. Novartis AG has a twelve month low of $72.30 and a twelve month high of $94.19. The company has a market cap of $209.68 billion, a P/E ratio of 18.10, a price-to-earnings-growth ratio of 2.01 and a beta of 0.74. The company has a quick ratio of 0.96, a current ratio of 1.20 and a debt-to-equity ratio of 0.29.
Novartis (NYSE:NVS) last announced its earnings results on Thursday, October 18th. The company reported $1.32 earnings per share for the quarter, beating the 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 during the quarter, compared to the consensus estimate of $12.88 billion. During the same quarter in the prior year, the company earned $1.29 EPS. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, equities research analysts forecast that Novartis AG will post 5.17 earnings per share for the current fiscal year.
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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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