Sii Investments Inc. WI lowered its position in shares of Novartis AG (NYSE:NVS) by 4.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,398 shares of the company’s stock after selling 174 shares during the period. Sii Investments Inc. WI’s holdings in Novartis AG were worth $252,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the stock. Howe & Rusling Inc. raised its stake in shares of Novartis AG by 192.2% in the first quarter. Howe & Rusling Inc. now owns 1,341 shares of the company’s stock worth $100,000 after buying an additional 882 shares during the period. TCI Wealth Advisors Inc. raised its stake in shares of Novartis AG by 20.0% in the first quarter. TCI Wealth Advisors Inc. now owns 1,381 shares of the company’s stock worth $103,000 after buying an additional 230 shares during the period. Kernodle & Katon Asset Management Group LLC raised its stake in shares of Novartis AG by 3.4% in the first quarter. Kernodle & Katon Asset Management Group LLC now owns 1,488 shares of the company’s stock worth $111,000 after buying an additional 49 shares during the period. North Star Investment Management Corp. raised its stake in shares of Novartis AG by 50.3% in the first quarter. North Star Investment Management Corp. now owns 1,526 shares of the company’s stock worth $113,000 after buying an additional 511 shares during the period. Finally, Massey Quick & Co. LLC acquired a new stake in shares of Novartis AG during the first quarter worth $119,000. Hedge funds and other institutional investors own 11.29% of the company’s stock.
Novartis AG (NYSE:NVS) opened at 85.42 on Friday. The firm has a market cap of $202.07 billion, a price-to-earnings ratio of 32.11 and a beta of 0.73. Novartis AG has a 52-week low of $66.93 and a 52-week high of $86.90. The company’s 50-day moving average price is $82.88 and its 200-day moving average price is $77.36.
Novartis AG (NYSE:NVS) last released its quarterly earnings data on Tuesday, July 18th. The company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.06. Novartis AG had a return on equity of 15.51% and a net margin of 13.52%. The company had revenue of $12.24 billion for the quarter, compared to analyst estimates of $12.20 billion. During the same period in the prior year, the company posted $1.23 EPS. The company’s revenue was down 1.8% compared to the same quarter last year. Analysts predict that Novartis AG will post $4.74 EPS for the current year.
A number of brokerages have weighed in on NVS. Morgan Stanley restated a “sell” rating on shares of Novartis AG in a research note on Tuesday, June 6th. Leerink Swann reiterated a “market perform” rating and issued a $83.00 target price on shares of Novartis AG in a research report on Thursday, June 22nd. Vetr lowered Novartis AG from a “strong-buy” rating to a “buy” rating and set a $78.32 target price for the company. in a research report on Thursday, April 6th. Zacks Investment Research upgraded Novartis AG from a “strong sell” rating to a “hold” rating in a research report on Monday, May 1st. Finally, UBS AG reiterated a “neutral” rating on shares of Novartis AG in a research report on Wednesday, May 24th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $81.71.
In related news, major shareholder Bioventures Ltd Novartis acquired 266,667 shares of the stock in a transaction dated Wednesday, July 5th. The shares were bought at an average cost of $15.00 per share, for a total transaction of $4,000,005.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.01% of the company’s stock.
Novartis AG Company Profile
Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.
Receive News & Ratings for Novartis AG Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novartis AG and related companies with MarketBeat.com's FREE daily email newsletter.
