Zeke Capital Advisors LLC increased its holdings in shares of Novartis AG (NYSE:NVS) by 1.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,597 shares of the company’s stock after buying an additional 554 shares during the quarter. Zeke Capital Advisors LLC’s holdings in Novartis were worth $4,437,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new stake in Novartis during the first quarter worth about $25,000. Canton Hathaway LLC acquired a new stake in Novartis during the first quarter worth about $26,000. Harvest Group Wealth Management LLC acquired a new stake in Novartis during the first quarter worth about $27,000. Asset Dedication LLC increased its stake in Novartis by 98.7% during the second quarter. Asset Dedication LLC now owns 304 shares of the company’s stock worth $27,000 after acquiring an additional 151 shares during the last quarter. Finally, Financial Gravity Wealth Inc. acquired a new stake in Novartis during the first quarter worth about $33,000. Hedge funds and other institutional investors own 11.85% of the company’s stock.
Shares of NVS stock traded down $0.13 during trading hours on Friday, reaching $92.18. The company had a trading volume of 1,308,279 shares, compared to its average volume of 2,257,254. The company has a quick ratio of 0.74, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. Novartis AG has a twelve month low of $71.33 and a twelve month high of $95.00. The stock has a market capitalization of $211.79 billion, a P/E ratio of 18.11, a P/E/G ratio of 2.10 and a beta of 0.58. The company’s fifty day simple moving average is $91.51.
Novartis (NYSE:NVS) last posted its earnings results on Thursday, July 18th. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.14. Novartis had a return on equity of 18.55% and a net margin of 23.27%. The business had revenue of $11.76 billion during the quarter, compared to analyst estimates of $11.45 billion. During the same quarter last year, the firm earned $1.29 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. Research analysts forecast that Novartis AG will post 5.06 earnings per share for the current year.
Several equities research analysts have commented on the company. Liberum Capital upgraded Novartis from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. Zacks Investment Research lowered Novartis from a “buy” rating to a “hold” rating and set a $100.00 price target for the company. in a research note on Friday, July 19th. Morgan Stanley lowered Novartis from an “equal weight” rating to an “underweight” rating and upped their price target for the stock from $82.50 to $82.52 in a research note on Wednesday, April 10th. Kepler Capital Markets lowered Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Argus upped their price target on Novartis to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. They noted that the move was a valuation call. Four analysts have rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Novartis currently has an average rating of “Hold” and a consensus target price of $90.63.
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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