Pittenger & Anderson Inc. Has $2.08 Million Stake in Novartis AG (NVS)

Pittenger & Anderson Inc. grew its stake in Novartis AG (NYSE:NVS) by 14.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,150 shares of the company’s stock after purchasing an additional 3,000 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Novartis were worth $2,081,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. ST Germain D J Co. Inc. lifted its stake in shares of Novartis by 14.8% in the 2nd quarter. ST Germain D J Co. Inc. now owns 4,765 shares of the company’s stock valued at $360,000 after purchasing an additional 615 shares during the period. American Research & Management Co. lifted its stake in shares of Novartis by 1.1% in the 2nd quarter. American Research & Management Co. now owns 57,749 shares of the company’s stock valued at $4,362,000 after purchasing an additional 625 shares during the period. King Luther Capital Management Corp lifted its stake in shares of Novartis by 14.3% in the 2nd quarter. King Luther Capital Management Corp now owns 5,175 shares of the company’s stock valued at $391,000 after purchasing an additional 649 shares during the period. Wesbanco Bank Inc. lifted its stake in shares of Novartis by 24.2% in the 2nd quarter. Wesbanco Bank Inc. now owns 3,347 shares of the company’s stock valued at $253,000 after purchasing an additional 653 shares during the period. Finally, Sterling Capital Management LLC lifted its stake in shares of Novartis by 5.3% in the 2nd quarter. Sterling Capital Management LLC now owns 13,127 shares of the company’s stock valued at $992,000 after purchasing an additional 655 shares during the period. 10.94% of the stock is currently owned by institutional investors.

NVS has been the topic of a number of analyst reports. Citigroup raised Novartis from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 11th. Bank of America upgraded shares of Novartis from an “underperform” rating to a “buy” rating and set a $74.71 price objective for the company in a research report on Monday, September 10th. DZ Bank restated a “buy” rating on shares of Novartis in a research report on Thursday, July 19th. Zacks Investment Research upgraded shares of Novartis from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a research report on Tuesday, September 18th. Finally, Barclays upgraded shares of Novartis from an “underweight” rating to an “equal weight” rating in a research report on Thursday, July 19th. Thirteen research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $86.90.

NVS opened at $82.78 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.15 and a quick ratio of 0.89. Novartis AG has a 12 month low of $72.30 and a 12 month high of $94.19. The firm has a market capitalization of $199.67 billion, a P/E ratio of 17.21, a PEG ratio of 1.80 and a beta of 0.83.

Novartis (NYSE:NVS) last released its quarterly earnings data on Wednesday, July 18th. The company reported $1.29 EPS for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.02. Novartis had a net margin of 27.06% and a return on equity of 16.05%. The business had revenue of $13.16 billion during the quarter, compared to analysts’ expectations of $12.93 billion. During the same quarter in the prior year, the company earned $1.22 EPS. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. As a group, sell-side analysts forecast that Novartis AG will post 5.17 earnings per share for the current fiscal year.

In related news, major shareholder Bioventures Ltd Novartis sold 30,600 shares of the company’s stock in a transaction on Monday, July 23rd. The shares were sold at an average price of $4.25, for a total value of $130,050.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 81,322 shares of company stock valued at $290,796. 0.01% of the stock is owned by corporate insiders.

About Novartis

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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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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