Kahn Brothers Group Inc. Buys Shares of 13,386 Novartis AG $NVS

Kahn Brothers Group Inc. purchased a new position in shares of Novartis AG (NYSE:NVS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,386 shares of the company’s stock, valued at approximately $2,044,711,000. Novartis makes up 4.1% of Kahn Brothers Group Inc.’s holdings, making the stock its 4th largest holding.

A number of other institutional investors also recently made changes to their positions in NVS. Dearborn Partners LLC acquired a new stake in shares of Novartis during the second quarter valued at $5,021,000. First Bancorp Inc ME purchased a new position in Novartis in the 2nd quarter valued at about $57,000. Pinnacle West Asset Management Inc. acquired a new stake in shares of Novartis during the 2nd quarter worth about $651,000. Somerville Kurt F acquired a new stake in shares of Novartis during the 2nd quarter worth about $1,636,000. Finally, Trust Co. of Vermont purchased a new stake in shares of Novartis during the second quarter worth about $7,282,000. 13.12% of the stock is owned by institutional investors and hedge funds.

Novartis Price Performance

Novartis stock opened at $154.54 on Friday. Novartis AG has a 1 year low of $121.57 and a 1 year high of $170.46. The firm has a 50 day moving average price of $154.94 and a 200 day moving average price of $153.78. The company has a market cap of $294.88 billion, a price-to-earnings ratio of 23.31, a PEG ratio of 2.70 and a beta of 0.45. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.67 and a current ratio of 0.86.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Tuesday, June 30th. The company reported $2.41 earnings per share for the quarter. Novartis had a net margin of 23.29% and a return on equity of 38.56%. The company had revenue of $14.95 billion for the quarter. Sell-side analysts predict that Novartis AG will post 8.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

NVS has been the subject of a number of analyst reports. Citigroup reissued a “buy” rating on shares of Novartis in a research report on Wednesday, July 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Novartis in a research report on Friday, July 24th. Seven analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Novartis has a consensus rating of “Hold” and an average price target 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.