Ledyard National Bank reduced its stake in Novartis AG (NYSE:NVS) by 18.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 51,042 shares of the company’s stock after selling 11,277 shares during the quarter. Ledyard National Bank’s holdings in Novartis were worth $3,856,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. HC Financial Advisors Inc. bought a new stake in Novartis during the fourth quarter valued at about $1,368,000. Allianz Asset Management GmbH raised its holdings in Novartis by 15.6% during the fourth quarter. Allianz Asset Management GmbH now owns 42,301 shares of the company’s stock valued at $3,552,000 after acquiring an additional 5,700 shares during the period. Jefferies Group LLC bought a new stake in Novartis during the fourth quarter valued at about $664,000. Sensato Investors LLC bought a new stake in Novartis during the fourth quarter valued at about $3,048,000. Finally, LPL Financial LLC raised its holdings in Novartis by 8.9% during the fourth quarter. LPL Financial LLC now owns 97,153 shares of the company’s stock valued at $8,157,000 after acquiring an additional 7,919 shares during the period. 10.91% of the stock is currently owned by institutional investors.
A number of equities research analysts have commented on the company. Zacks Investment Research raised Novartis from a “sell” rating to a “hold” rating in a report on Tuesday, June 19th. Credit Suisse Group raised Novartis from an “underperform” rating to a “neutral” rating in a report on Friday, May 25th. ValuEngine cut Novartis from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Novartis in a report on Monday, April 9th. Finally, Deutsche Bank reissued a “neutral” rating on shares of Novartis in a report on Tuesday, April 10th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company’s stock. Novartis has a consensus rating of “Hold” and a consensus price target of $92.33.
Shares of Novartis stock opened at $76.35 on Thursday. The stock has a market cap of $179.60 billion, a PE ratio of 15.87, a PEG ratio of 1.66 and a beta of 0.75. The company has a quick ratio of 0.91, a current ratio of 1.17 and a debt-to-equity ratio of 0.33. Novartis AG has a twelve month low of $72.30 and a twelve month high of $94.19.
Novartis (NYSE:NVS) last issued its quarterly earnings data on Thursday, April 19th. The company reported $1.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.03. The firm had revenue of $12.69 billion during the quarter, compared to analyst estimates of $12.45 billion. Novartis had a return on equity of 16.23% and a net margin of 16.04%. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.13 earnings per share. analysts anticipate that Novartis AG will post 5.22 earnings per share for the current fiscal year.
In other news, major shareholder Institutes For Biomed Novartis acquired 766,666 shares of the business’s stock in a transaction dated Monday, April 23rd. The stock was purchased at an average price of $15.00 per share, for a total transaction of $11,499,990.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.01% of the company’s stock.
Novartis AG researches, develops, manufactures, and markets a range of healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines to enhance health outcomes for patients and health-care providers. This segment also commercializes products in the areas of oncology and rare diseases, ophthalmology, immunology and dermatology, neuroscience, respiratory, cardio-metabolic, and established medicines.
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