Park National Corp OH decreased its holdings in shares of Novartis AG (NYSE:NVS) by 24.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 143,171 shares of the company’s stock after selling 46,661 shares during the quarter. Park National Corp OH’s holdings in Novartis were worth $13,073,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of NVS. Stratos Wealth Partners LTD. lifted its stake in Novartis by 1.2% in the first quarter. Stratos Wealth Partners LTD. now owns 10,631 shares of the company’s stock valued at $1,022,000 after buying an additional 125 shares during the last quarter. Legacy Bridge LLC raised its stake in shares of Novartis by 7.5% during the first quarter. Legacy Bridge LLC now owns 1,844 shares of the company’s stock worth $177,000 after purchasing an additional 128 shares during the last quarter. Archford Capital Strategies LLC raised its stake in shares of Novartis by 5.7% during the first quarter. Archford Capital Strategies LLC now owns 2,447 shares of the company’s stock worth $235,000 after purchasing an additional 131 shares during the last quarter. Cox Capital Mgt LLC raised its stake in shares of Novartis by 0.7% during the first quarter. Cox Capital Mgt LLC now owns 19,645 shares of the company’s stock worth $1,889,000 after purchasing an additional 134 shares during the last quarter. Finally, Albert D Mason Inc. raised its stake in shares of Novartis by 1.1% during the first quarter. Albert D Mason Inc. now owns 13,179 shares of the company’s stock worth $1,267,000 after purchasing an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 11.88% of the company’s stock.
Novartis stock traded down $0.36 during trading hours on Tuesday, hitting $93.68. The stock had a trading volume of 2,850,104 shares, compared to its average volume of 2,419,625. The company has a quick ratio of 0.74, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. The company has a market cap of $214.65 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 2.20 and a beta of 0.59. Novartis AG has a 1-year low of $71.33 and a 1-year high of $95.00. The firm has a fifty day simple moving average of $90.56.
Novartis (NYSE:NVS) last posted its earnings results on Thursday, July 18th. The company reported $1.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.14. The company had revenue of $11.76 billion for the quarter, compared to analyst estimates of $11.45 billion. Novartis had a return on equity of 18.55% and a net margin of 23.27%. Novartis’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.29 earnings per share. On average, research analysts expect that Novartis AG will post 4.99 EPS for the current fiscal year.
Several equities research analysts have recently commented on NVS shares. Guggenheim upgraded Novartis from a “neutral” rating to a “buy” rating and set a $79.16 price target for the company in a research note on Wednesday, April 24th. Liberum Capital upgraded Novartis from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. upped their price target on from GBX 2,300 ($30.05) to GBX 2,900 ($37.89) and gave the stock a “neutral” rating in a research note on Friday, July 5th. Morgan Stanley set a $165.00 price objective on Caterpillar and gave the stock a “buy” rating in a report on Wednesday, April 10th. Finally, Zacks Investment Research raised Hallmark Financial Services from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a report on Friday. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $90.63.
Novartis Company Profile
Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.
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