Kahn Brothers Group Inc. Invests $2.04 Million in Novartis AG $NVS

Kahn Brothers Group Inc. bought a new position in shares of Novartis AG (NYSE:NVS) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 13,386 shares of the company’s stock, valued at approximately $2,044,711. Novartis accounts for about 0.0% of Kahn Brothers Group Inc.’s investment portfolio, making the stock its 4th largest holding.

A number of other hedge funds have also recently added to or reduced their stakes in NVS. Brighton Jones LLC lifted its holdings in shares of Novartis by 76.5% during the fourth quarter. Brighton Jones LLC now owns 6,153 shares of the company’s stock worth $599,000 after buying an additional 2,666 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Novartis by 102.8% during the first quarter. AQR Capital Management LLC now owns 22,573 shares of the company’s stock valued at $2,516,000 after acquiring an additional 11,444 shares in the last quarter. Empowered Funds LLC bought a new stake in Novartis during the 1st quarter valued at approximately $1,764,000. Sivia Capital Partners LLC raised its position in Novartis by 48.0% during the 2nd quarter. Sivia Capital Partners LLC now owns 7,959 shares of the company’s stock valued at $963,000 after purchasing an additional 2,581 shares in the last quarter. Finally, Schnieders Capital Management LLC. acquired a new stake in Novartis during the 2nd quarter valued at approximately $202,000. Institutional investors own 13.12% of the company’s stock.

Novartis Stock Performance

NYSE:NVS traded down $0.90 during trading hours on Friday, hitting $153.75. 1,165,872 shares of the company were exchanged, compared to its average volume of 1,922,867. Novartis AG has a 52-week low of $121.57 and a 52-week high of $170.46. The company’s 50 day moving average price is $154.94 and its 200-day moving average price is $153.78. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.86 and a quick ratio of 0.67. The stock has a market capitalization of $293.38 billion, a price-to-earnings ratio of 23.19, a PEG ratio of 2.70 and a beta of 0.45.

Novartis (NYSE:NVS) last announced its 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 business had revenue of $14.95 billion during the quarter. As a group, research analysts forecast that Novartis AG will post 8.85 earnings per share for the current year.

Wall Street Analyst Weigh In

NVS has been the subject of several recent research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Novartis in a report on Friday, July 24th. Citigroup reissued a “buy” rating on shares of Novartis in a report on Wednesday, July 22nd. Seven investment 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $141.20.

Novartis 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.