GSA Capital Partners LLP acquired a new stake in Novartis AG (NYSE:NVS) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 5,081 shares of the company’s stock, valued at approximately $424,000.
Other hedge funds also recently modified their holdings of the company. City Holding Co. raised its stake in shares of Novartis AG by 4.6% in the 2nd quarter. City Holding Co. now owns 1,217 shares of the company’s stock valued at $102,000 after acquiring an additional 54 shares in the last quarter. Archford Capital Strategies LLC grew its holdings in Novartis AG by 72.3% in the 1st quarter. Archford Capital Strategies LLC now owns 1,480 shares of the company’s stock valued at $110,000 after buying an additional 621 shares during the last quarter. Kernodle & Katon Asset Management Group LLC grew its holdings in Novartis AG by 3.4% in the 1st quarter. Kernodle & Katon Asset Management Group LLC now owns 1,488 shares of the company’s stock valued at $111,000 after buying an additional 49 shares during the last quarter. Massey Quick & Co. LLC acquired a new stake in Novartis AG in the 1st quarter valued at approximately $119,000. Finally, North Star Investment Management Corp. grew its holdings in Novartis AG by 1.0% in the 2nd quarter. North Star Investment Management Corp. now owns 1,542 shares of the company’s stock valued at $129,000 after buying an additional 16 shares during the last quarter. 10.92% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have issued reports on the company. Leerink Swann reaffirmed a “market perform” rating and issued a $83.00 target price on shares of Novartis AG in a report on Thursday, June 22nd. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Novartis AG in a report on Tuesday, September 26th. Zacks Investment Research lowered Novartis AG from a “buy” rating to a “hold” rating in a report on Thursday, September 21st. BidaskClub raised Novartis AG from a “sell” rating to a “hold” rating in a report on Saturday, August 5th. Finally, Morgan Stanley raised Novartis AG from an “underweight” rating to an “overweight” rating in a report on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. Novartis AG presently has a consensus rating of “Hold” and an average target price of $84.13.
Shares of Novartis AG (NVS) opened at 85.99 on Friday. Novartis AG has a 12-month low of $66.93 and a 12-month high of $86.90. The firm has a market cap of $201.47 billion, a price-to-earnings ratio of 31.39 and a beta of 0.73. The firm has a 50-day moving average price of $85.15 and a 200-day moving average price of $81.72.
Novartis AG (NYSE:NVS) last released its quarterly earnings data on Tuesday, July 18th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.06. The firm had revenue of $12.24 billion for the quarter, compared to analyst estimates of $12.20 billion. Novartis AG had a return on equity of 15.51% and a net margin of 13.52%. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.23 earnings per share. Equities research analysts anticipate that Novartis AG will post $4.75 EPS for the current year.
About Novartis AG
Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.
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