Hayden Royal LLC lifted its position in shares of Novartis AG (NYSE:NVS) by 8.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,406 shares of the company’s stock after acquiring an additional 182 shares during the quarter. Hayden Royal LLC’s holdings in Novartis were worth $217,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new stake in shares of Novartis during the 1st quarter valued at $25,000. Harvest Group Wealth Management LLC bought a new position in Novartis during the 1st quarter worth $27,000. Asset Dedication LLC raised its position in Novartis by 98.7% during the 2nd quarter. Asset Dedication LLC now owns 304 shares of the company’s stock worth $27,000 after purchasing an additional 151 shares during the last quarter. Financial Gravity Wealth Inc. bought a new position in Novartis during the 1st quarter worth $33,000. Finally, Camarda Financial Advisors LLC bought a new position in Novartis during the 1st quarter worth $36,000. 11.87% of the stock is currently owned by institutional investors.
Shares of NVS stock traded down $0.35 during mid-day trading on Thursday, hitting $88.66. The company’s stock had a trading volume of 57,564 shares, compared to its average volume of 2,529,997. The stock’s fifty day simple moving average is $91.33. Novartis AG has a 52 week low of $71.33 and a 52 week high of $95.00. The company has a current ratio of 0.94, a quick ratio of 0.74 and a debt-to-equity ratio of 0.43. The company has a market cap of $202.40 billion, a P/E ratio of 17.43, a PEG ratio of 2.07 and a beta of 0.58.
Novartis (NYSE:NVS) last posted its quarterly earnings data on Thursday, July 18th. The company reported $1.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.14. Novartis had a return on equity of 18.55% and a net margin of 23.27%. The firm had revenue of $11.76 billion during the quarter, compared to analyst estimates of $11.45 billion. During the same period last year, the company posted $1.29 EPS. The business’s quarterly revenue was up 3.7% on a year-over-year basis. On average, equities analysts forecast that Novartis AG will post 5.11 EPS for the current year.
Several research analysts recently issued reports on NVS shares. Liberum Capital raised Novartis from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. Kepler Capital Markets lowered Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of Novartis in a research report on Friday, July 5th. Guggenheim raised Novartis from a “neutral” rating to a “buy” rating and set a $79.16 target price for the company in a research report on Wednesday, April 24th. Finally, Zacks Investment Research lowered Novartis from a “buy” rating to a “hold” rating and set a $100.00 target price for the company. in a research report on Friday, July 19th. Four research analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has given 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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