Stevens First Principles Investment Advisors cut its position in Novartis AG (NYSE:NVS) by 0.6% during the second quarter, Holdings Channel reports. The firm owned 45,696 shares of the company’s stock after selling 275 shares during the period. Novartis AG comprises about 2.8% of Stevens First Principles Investment Advisors’ portfolio, making the stock its 12th largest position. Stevens First Principles Investment Advisors’ holdings in Novartis AG were worth $3,770,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of NVS. Loomis Sayles & Co. L P raised its stake in shares of Novartis AG by 8.5% in the first quarter. Loomis Sayles & Co. L P now owns 5,242,948 shares of the company’s stock worth $379,800,000 after buying an additional 408,972 shares during the period. Woodley Farra Manion Portfolio Management Inc. bought a new stake in shares of Novartis AG during the second quarter worth about $26,632,000. Cambiar Investors LLC raised its stake in shares of Novartis AG by 12.1% in the second quarter. Cambiar Investors LLC now owns 2,117,314 shares of the company’s stock worth $174,700,000 after buying an additional 229,198 shares during the period. Thomaspartners Inc. raised its stake in shares of Novartis AG by 14.7% in the first quarter. Thomaspartners Inc. now owns 1,484,339 shares of the company’s stock worth $107,526,000 after buying an additional 190,399 shares during the period. Finally, Bank of Montreal Can bought a new stake in shares of Novartis AG during the second quarter worth about $15,682,000. Institutional investors and hedge funds own 9.78% of the company’s stock.
Novartis AG (NYSE:NVS) traded down 0.34% during midday trading on Friday, reaching $78.18. 1,024,262 shares of the company traded hands. The company has a 50-day moving average price of $80.00 and a 200-day moving average price of $78.86. The company has a market cap of $186.16 billion, a price-to-earnings ratio of 27.91 and a beta of 0.57. Novartis AG has a 12-month low of $69.90 and a 12-month high of $95.11.
Novartis AG (NYSE:NVS) last issued its earnings results on Tuesday, July 19th. The company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.18 by $0.05. The firm earned $12.47 billion during the quarter, compared to analysts’ expectations of $12.33 billion. Novartis AG had a return on equity of 15.33% and a net margin of 13.84%. During the same period last year, the business earned $1.25 earnings per share. On average, analysts predict that Novartis AG will post $4.72 earnings per share for the current fiscal year.
Several research firms have weighed in on NVS. Zacks Investment Research lowered shares of Novartis AG from a “hold” rating to a “sell” rating in a research note on Wednesday, September 21st. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Novartis AG in a research note on Tuesday, July 19th. TheStreet upgraded shares of Novartis AG from a “hold” rating to a “buy” rating in a research note on Friday, June 24th. Chardan Capital began coverage on shares of Novartis AG in a research note on Tuesday, September 20th. They set a “buy” rating and a $95.00 target price for the company. Finally, Argus reiterated a “hold” rating on shares of Novartis AG in a research note on Thursday, August 25th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $91.83.
Novartis AG Company Profile
Novartis AG is a holding company. The Company specializes in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals, including eye care products. Its portfolio includes medicines, eye care and generic pharmaceuticals. The Company’s segments include Pharmaceuticals, Alcon and Sandoz.
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