Prentiss Smith & Co. Inc. increased its position in shares of Novartis AG (NYSE:NVS) by 1.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 135,673 shares of the company’s stock after buying an additional 1,941 shares during the period. Novartis AG comprises about 6.3% of Prentiss Smith & Co. Inc.’s portfolio, making the stock its largest position. Prentiss Smith & Co. Inc.’s holdings in Novartis AG were worth $11,194,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Pacad Investment Ltd. bought a new position in Novartis AG during the first quarter worth $261,000. RMB Capital Management LLC boosted its position in Novartis AG by 1.4% in the first quarter. RMB Capital Management LLC now owns 26,331 shares of the company’s stock worth $1,906,000 after buying an additional 372 shares during the last quarter. Agur Provident & Training Funds Management Ltd. acquired a new position in Novartis AG during the first quarter worth approximately $1,510,000. Wrapmanager Inc. boosted its position in Novartis AG by 14.7% in the first quarter. Wrapmanager Inc. now owns 6,237 shares of the company’s stock worth $452,000 after buying an additional 801 shares in the last quarter. Finally, Mckinley Capital Management LLC Delaware boosted its position in Novartis AG by 30.8% in the first quarter. Mckinley Capital Management LLC Delaware now owns 19,207 shares of the company’s stock worth $1,391,000 after buying an additional 4,521 shares in the last quarter. 9.78% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Novartis AG (NYSE:NVS) traded down 0.18% during trading on Tuesday, reaching $78.86. The company’s stock had a trading volume of 1,341,191 shares. The company has a market capitalization of $187.78 billion, a PE ratio of 28.15 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 has a 50 day moving average of $80.27 and a 200-day moving average of $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 analysts’ consensus estimates of $1.18 by $0.05. The company had revenue of $12.47 billion for the quarter, compared to the consensus estimate of $12.33 billion. Novartis AG had a return on equity of 15.33% and a net margin of 13.84%. During the same quarter in the prior year, the business posted $1.25 earnings per share. On average, analysts expect that Novartis AG will post $4.72 earnings per share for the current year.
A number of research analysts recently commented on the company. JPMorgan Chase & Co. reissued a “buy” rating on shares of Novartis AG in a report on Wednesday, July 13th. Bank of America Corp. reissued a “hold” rating on shares of Novartis AG in a report on Tuesday, July 12th. Zacks Investment Research cut Novartis AG from a “buy” rating to a “hold” rating in a report on Tuesday, July 12th. Argus reissued a “hold” rating on shares of Novartis AG in a report on Thursday, August 25th. Finally, Chardan Capital assumed coverage on Novartis AG in a report on Tuesday, September 20th. They issued a “buy” rating and a $95.00 price target on the stock. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average 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.
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