Zevin Asset Management LLC grew its stake in Novartis AG (NYSE:NVS) by 7.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,447 shares of the company’s stock after purchasing an additional 3,211 shares during the period. Novartis comprises about 1.2% of Zevin Asset Management LLC’s investment portfolio, making the stock its 28th biggest position. Zevin Asset Management LLC’s holdings in Novartis were worth $3,862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently bought and sold shares of NVS. Elefante Mark B boosted its position in Novartis by 3.6% in the second quarter. Elefante Mark B now owns 8,744 shares of the company’s stock valued at $799,000 after buying an additional 300 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Novartis by 16.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,566 shares of the company’s stock valued at $143,000 after purchasing an additional 220 shares in the last quarter. Capital Advisors Ltd. LLC boosted its stake in shares of Novartis by 119.0% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 1,084 shares of the company’s stock valued at $99,000 after purchasing an additional 589 shares in the last quarter. Bangor Savings Bank acquired a new stake in shares of Novartis in the 3rd quarter valued at approximately $212,000. Finally, Penbrook Management LLC boosted its stake in shares of Novartis by 18.2% in the 2nd quarter. Penbrook Management LLC now owns 6,500 shares of the company’s stock valued at $594,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors own 11.19% of the company’s stock.
A number of equities research analysts have recently weighed in on the stock. Argus raised their price target on shares of Novartis to $105.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. They noted that the move was a valuation call. Kepler Capital Markets downgraded shares of Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Zacks Investment Research downgraded shares of Novartis from a “buy” rating to a “hold” rating and set a $100.00 target price on the stock. in a research report on Friday, July 19th. Jefferies Financial Group reiterated a “buy” rating on shares of Novartis in a research report on Thursday, August 29th. Finally, Cowen reiterated a “buy” rating and set a $100.00 target price on shares of Novartis in a research report on Friday, October 25th. Four analysts have rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $95.28.
Novartis stock traded up $1.38 during mid-day trading on Friday, hitting $88.37. 1,366,856 shares of the stock were exchanged, compared to its average volume of 2,204,612. The company has a quick ratio of 0.73, a current ratio of 0.95 and a debt-to-equity ratio of 0.42. Novartis AG has a 12 month low of $72.19 and a 12 month high of $95.00. The firm’s fifty day simple moving average is $86.81 and its two-hundred day simple moving average is $87.75. The stock has a market capitalization of $199.13 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 1.94 and a beta of 0.59.
Novartis (NYSE:NVS) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.10. The firm had revenue of $12.17 billion during the quarter, compared to analyst estimates of $11.67 billion. Novartis had a net margin of 24.43% and a return on equity of 20.86%. The company’s revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.32 EPS. As a group, analysts forecast that Novartis AG will post 5.16 earnings per share for the current fiscal year.
Novartis Company Profile
Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.
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