Keybank National Association OH Purchases 10,666 Shares of Novartis AG $NVS

Keybank National Association OH increased its position in Novartis AG (NYSE:NVS) by 20.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,679 shares of the company’s stock after acquiring an additional 10,666 shares during the quarter. Keybank National Association OH’s holdings in Novartis were worth $9,727,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Arlington Trust Co LLC acquired a new stake in shares of Novartis in the fourth quarter valued at about $25,000. CrossGen Wealth LLC acquired a new position in shares of Novartis during the 4th quarter worth about $28,000. Bank of Jackson Hole Trust boosted its stake in Novartis by 425.0% during the 4th quarter. Bank of Jackson Hole Trust now owns 231 shares of the company’s stock valued at $32,000 after purchasing an additional 187 shares during the period. Measured Wealth Private Client Group LLC bought a new stake in Novartis during the 3rd quarter valued at approximately $33,000. Finally, Nalls Sherbakoff Group LLC acquired a new stake in Novartis in the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Stock Down 0.1%

NVS stock opened at $159.82 on Friday. Novartis AG has a twelve month low of $112.34 and a twelve month high of $170.46. The company has a quick ratio of 0.65, a current ratio of 0.85 and a debt-to-equity ratio of 0.96. The company has a market cap of $304.96 billion, a PE ratio of 22.90, a price-to-earnings-growth ratio of 2.73 and a beta of 0.45. The business’s 50-day simple moving average is $149.84 and its 200 day simple moving average is $150.42.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Monday, April 27th. The company reported $1.99 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.12). Novartis had a net margin of 24.87% and a return on equity of 38.82%. The firm had revenue of $13.52 billion during the quarter, compared to analyst estimates of $13.44 billion. During the same period last year, the company earned $2.28 EPS. The company’s revenue was down .9% on a year-over-year basis. On average, research analysts anticipate that Novartis AG will post 8.86 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have commented on the company. Morgan Stanley lifted their price target on Novartis from $143.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, March 26th. Sanford C. Bernstein upgraded shares of Novartis to a “hold” rating in a research note on Thursday, March 19th. Weiss Ratings lowered shares of Novartis from a “buy (a-)” rating to a “buy (b)” rating in a research report on Wednesday, April 29th. Finally, Argus raised shares of Novartis from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a research report on Wednesday, March 11th. Seven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $141.20.

Novartis Company Profile

Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.

The company’s activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.