Proficio Capital Partners LLC boosted its position in shares of Novartis AG (NYSE:NVS) by 4.3% during the second quarter, Holdings Channel reports. The institutional investor owned 24,371 shares of the company’s stock after buying an additional 997 shares during the period. Novartis AG makes up 1.3% of Proficio Capital Partners LLC’s portfolio, making the stock its 16th largest position. Proficio Capital Partners LLC’s holdings in Novartis AG were worth $2,000,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the stock. Loomis Sayles & Co. L P boosted 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 in the last quarter. Woodley Farra Manion Portfolio Management Inc. purchased a new stake in shares of Novartis AG during the second quarter worth approximately $26,632,000. Cambiar Investors LLC boosted 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 in the last quarter. Thomaspartners Inc. boosted 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 in the last quarter. Finally, Bank of Montreal Can purchased a new stake in shares of Novartis AG during the second quarter worth approximately $15,682,000. Hedge funds and other institutional investors own 9.77% of the company’s stock.
Novartis AG (NYSE:NVS) traded down 0.67% during trading on Monday, reaching $75.58. 3,019,213 shares of the company’s stock traded hands. The stock has a market cap of $179.97 billion, a price-to-earnings ratio of 26.98 and a beta of 0.57. The company’s 50 day moving average is $79.33 and its 200-day moving average is $78.96. Novartis AG has a 52-week low of $69.90 and a 52-week high of $94.63.
Novartis AG (NYSE:NVS) last posted its earnings results on Tuesday, July 19th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.05. Novartis AG had a net margin of 13.84% and a return on equity of 15.33%. The firm earned $12.47 billion during the quarter, compared to analyst estimates of $12.33 billion. During the same quarter in the prior year, the business posted $1.25 EPS. On average, analysts anticipate that Novartis AG will post $4.72 earnings per share for the current fiscal year.
A number of analysts have commented on NVS shares. Zacks Investment Research cut shares of Novartis AG from a “hold” rating to a “sell” rating in a research note on Wednesday, September 21st. JPMorgan Chase & Co. restated a “buy” rating on shares of Novartis AG in a research note on Tuesday, July 19th. Jefferies Group restated a “buy” rating on shares of Novartis AG in a research note on Sunday. Chardan Capital cut their target price on shares of Novartis AG from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Monday, October 10th. Finally, TheStreet upgraded shares of Novartis AG from a “hold” rating to a “buy” rating in a research note on Friday, June 24th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $91.33.
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.
Want to see what other hedge funds are holding NVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Novartis AG (NYSE:NVS).
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.