West Oak Capital LLC boosted its stake in Novartis AG (NYSE:NVS) by 4.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 15,860 shares of the company’s stock after purchasing an additional 665 shares during the period. West Oak Capital LLC’s holdings in Novartis were worth $1,332,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of NVS. WFG Advisors LP increased its holdings in Novartis by 38.1% in the 2nd quarter. WFG Advisors LP now owns 1,221 shares of the company’s stock valued at $102,000 after purchasing an additional 337 shares during the last quarter. Wealthcare Advisory Partners LLC acquired a new position in shares of Novartis in the third quarter worth $106,000. Cable Hill Partners LLC grew its stake in shares of Novartis by 588.8% in the third quarter. Cable Hill Partners LLC now owns 1,295 shares of the company’s stock worth $112,000 after acquiring an additional 1,107 shares in the last quarter. Harding Loevner LP acquired a new position in shares of Novartis in the second quarter worth $146,000. Finally, Flagship Harbor Advisors LLC acquired a new position in shares of Novartis in the third quarter worth $200,000. Hedge funds and other institutional investors own 10.85% of the company’s stock.
Several equities analysts have commented on NVS shares. Zacks Investment Research upgraded shares of Novartis from a “hold” rating to a “buy” rating and set a $96.00 price target for the company in a research note on Tuesday, September 19th. JPMorgan Chase & Co. restated a “neutral” rating on shares of Novartis in a research note on Tuesday, September 26th. Leerink Swann boosted their price target on shares of Novartis from $89.00 to $91.00 and gave the stock a “market perform” rating in a research note on Monday, October 23rd. Barclays downgraded shares of Novartis from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, October 25th. Finally, Bank of America downgraded shares of Novartis from a “neutral” rating to an “underperform” rating in a research note on Wednesday, December 6th. Five equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company’s stock. Novartis presently has a consensus rating of “Hold” and an average price target of $85.32.
Novartis (NYSE:NVS) last released its quarterly earnings data on Tuesday, October 24th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.04. The business had revenue of $12.41 billion during the quarter, compared to analysts’ expectations of $12.21 billion. Novartis had a net margin of 13.73% and a return on equity of 15.77%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.23 EPS. sell-side analysts expect that Novartis AG will post 4.77 earnings per share for the current year.
Novartis Company Profile
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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