1832 Asset Management L.P. decreased its holdings in shares of Novartis AG (NYSE:NVS – Free Report) by 40.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,662 shares of the company’s stock after selling 4,500 shares during the quarter. 1832 Asset Management L.P.’s holdings in Novartis were worth $672,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the business. Level Four Advisory Services LLC raised its holdings in Novartis by 16.6% in the 2nd quarter. Level Four Advisory Services LLC now owns 12,926 shares of the company’s stock valued at $1,304,000 after buying an additional 1,838 shares during the last quarter. Financial Management Professionals Inc. raised its holdings in Novartis by 750.0% in the 2nd quarter. Financial Management Professionals Inc. now owns 289 shares of the company’s stock valued at $29,000 after buying an additional 255 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in Novartis by 7.0% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 28,024 shares of the company’s stock valued at $2,828,000 after buying an additional 1,833 shares during the last quarter. Resources Investment Advisors LLC. raised its holdings in Novartis by 252.6% in the 1st quarter. Resources Investment Advisors LLC. now owns 13,514 shares of the company’s stock valued at $1,243,000 after buying an additional 9,681 shares during the last quarter. Finally, King Luther Capital Management Corp raised its holdings in Novartis by 5.8% in the 1st quarter. King Luther Capital Management Corp now owns 10,579 shares of the company’s stock valued at $973,000 after buying an additional 583 shares during the last quarter. Institutional investors and hedge funds own 7.00% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts recently issued reports on the stock. Morgan Stanley upgraded shares of Novartis from an “underweight” rating to an “equal weight” rating in a report on Monday, September 25th. StockNews.com assumed coverage on shares of Novartis in a report on Wednesday. They issued a “strong-buy” rating for the company. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $84.50.
Read Our Latest Report on Novartis
Novartis Stock Performance
NYSE:NVS opened at $97.05 on Thursday. The company has a market capitalization of $205.71 billion, a PE ratio of 26.09, a P/E/G ratio of 1.76 and a beta of 0.55. The company has a 50 day simple moving average of $96.18 and a two-hundred day simple moving average of $99.20. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.83 and a current ratio of 0.94. Novartis AG has a fifty-two week low of $79.98 and a fifty-two week high of $105.61.
Novartis (NYSE:NVS – Get Free Report) last released its earnings results on Monday, October 23rd. The company reported $1.74 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.04. The business had revenue of $11.78 billion during the quarter, compared to the consensus estimate of $12.05 billion. Novartis had a net margin of 15.35% and a return on equity of 28.27%. During the same quarter in the prior year, the firm posted $1.58 EPS. Research analysts anticipate that Novartis AG will post 6.53 earnings per share for the current year.
Novartis Company Profile
Novartis AG researches, develops, manufactures, and markets healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.
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