Bank of New York Mellon Corp Purchases 9,691 Shares of Novartis AG $NVS

Bank of New York Mellon Corp grew its position in Novartis AG (NYSE:NVS) by 3.0% in the first quarter, HoldingsChannel.com reports. The firm owned 327,817 shares of the company’s stock after acquiring an additional 9,691 shares during the period. Bank of New York Mellon Corp’s holdings in Novartis were worth $50,074,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of NVS. Archer Investment Corp raised its position in Novartis by 93.0% in the 1st quarter. Archer Investment Corp now owns 166 shares of the company’s stock worth $25,000 after purchasing an additional 80 shares during the period. Arlington Trust Co LLC purchased a new stake in Novartis in the fourth quarter worth $25,000. CrossGen Wealth LLC purchased a new stake in shares of Novartis during the fourth quarter valued at $28,000. Bank of Jackson Hole Trust grew its holdings in shares of Novartis by 425.0% in the fourth quarter. Bank of Jackson Hole Trust now owns 231 shares of the company’s stock worth $32,000 after purchasing an additional 187 shares during the last quarter. Finally, Nalls Sherbakoff Group LLC purchased a new position in Novartis in the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Citigroup reissued a “buy” rating on shares of Novartis in a research report on Wednesday. Weiss Ratings lowered shares of Novartis from a “buy (a-)” rating to a “buy (b)” rating in a research report on Wednesday, April 29th. 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 company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $141.20.

Novartis Stock Down 0.8%

NVS opened at $154.84 on Friday. The stock has a market capitalization of $295.46 billion, a price-to-earnings ratio of 23.35, a PEG ratio of 2.69 and a beta of 0.45. The company has a fifty day moving average of $151.95 and a two-hundred day moving average of $152.13. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.65 and a current ratio of 0.86. Novartis AG has a fifty-two week low of $112.34 and a fifty-two week high of $170.46.

Novartis (NYSE:NVS) last released its quarterly earnings results on Tuesday, June 30th. The company reported $2.41 earnings per share for the quarter. The firm had revenue of $14.95 billion during the quarter. Novartis had a net margin of 23.29% and a return on equity of 38.56%. On average, research analysts expect that Novartis AG will post 8.78 earnings per share for the current year.

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.