Analyst IMS Investment Management Services Ltd. reduced its position in Novartis AG (NYSE:NVS) by 2.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,538 shares of the company’s stock after selling 2,151 shares during the period. Novartis AG accounts for approximately 3.2% of Analyst IMS Investment Management Services Ltd.’s investment portfolio, making the stock its 9th largest position. Analyst IMS Investment Management Services Ltd.’s holdings in Novartis AG were worth $7,553,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Integrated Investment Consultants LLC raised its stake in Novartis AG by 6.3% in the second quarter. Integrated Investment Consultants LLC now owns 1,240 shares of the company’s stock valued at $102,000 after buying an additional 74 shares in the last quarter. Whitnell & Co. raised its stake in Novartis AG by 14.6% in the second quarter. Whitnell & Co. now owns 1,410 shares of the company’s stock valued at $116,000 after buying an additional 180 shares in the last quarter. Iowa State Bank acquired a new stake in Novartis AG during the second quarter valued at about $122,000. Capital Analysts LLC raised its stake in Novartis AG by 3.5% in the second quarter. Capital Analysts LLC now owns 2,084 shares of the company’s stock valued at $172,000 after buying an additional 70 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in Novartis AG by 33.9% in the second quarter. Quadrant Capital Group LLC now owns 2,357 shares of the company’s stock valued at $186,000 after buying an additional 597 shares in the last quarter. 9.78% of the stock is owned by institutional investors and hedge funds.
Novartis AG (NYSE:NVS) traded up 0.3163% during midday trading on Tuesday, hitting $79.2499. The stock had a trading volume of 141,631 shares. The company has a market capitalization of $188.71 billion, a PE ratio of 28.2934 and a beta of 0.57. Novartis AG has a 1-year low of $69.90 and a 1-year high of $95.11. The stock’s 50-day moving average is $80.27 and its 200-day moving average is $78.82.
Novartis AG (NYSE:NVS) last issued its quarterly earnings results on Tuesday, July 19th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.05. Novartis AG had a return on equity of 15.33% and a net margin of 13.84%. The business earned $12.47 billion during the quarter, compared to analyst estimates of $12.33 billion. During the same quarter in the prior year, the business posted $1.25 EPS. Equities research analysts forecast that Novartis AG will post $4.72 EPS for the current year.
NVS has been the subject of several research analyst reports. JPMorgan Chase & Co. reissued a “buy” rating on shares of Novartis AG in a research note on Tuesday, July 19th. Zacks Investment Research raised Novartis AG from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a research note on Monday, July 11th. TheStreet raised Novartis AG from a “hold” rating to a “buy” rating in a research note on Friday, June 24th. Chardan Capital initiated coverage on Novartis AG in a research note on Tuesday, September 20th. They set a “buy” rating and a $95.00 price objective for the company. Finally, Argus reissued a “hold” rating on shares of Novartis AG in a research note on Thursday, August 25th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Novartis AG currently has a consensus rating of “Hold” and a consensus target price of $91.83.
Novartis AG Company Profile
Novartis AG is a holding company. The Company specializes in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals, including eye care products. Its portfolio includes medicines, eye care and generic pharmaceuticals. The Company’s segments include Pharmaceuticals, Alcon and Sandoz.
Want to see what other hedge funds are holding NVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Novartis AG (NYSE:NVS).
Receive News & Ratings for Novartis AG Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novartis AG and related companies with MarketBeat.com's FREE daily email newsletter.