Eagle Asset Management Inc. grew its position in Novartis AG (NYSE:NVS) by 50.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 10,696 shares of the company’s stock after purchasing an additional 3,593 shares during the quarter. Eagle Asset Management Inc.’s holdings in Novartis were worth $913,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Wealthcare Advisory Partners LLC acquired a new stake in shares of Novartis during the third quarter worth $106,000. Cable Hill Partners LLC raised its holdings in shares of Novartis by 588.8% during 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 during the period. Calton & Associates Inc. acquired a new stake in shares of Novartis during the fourth quarter worth $118,000. SeaCrest Wealth Management LLC acquired a new stake in shares of Novartis during the fourth quarter worth $124,000. Finally, Sawyer & Company Inc acquired a new stake in shares of Novartis during the fourth quarter worth $183,000. Institutional investors own 10.96% of the company’s stock.
A number of equities research analysts recently commented on the stock. Nord/LB restated a “neutral” rating on shares of Novartis in a report on Tuesday, January 2nd. JPMorgan Chase & Co. restated a “neutral” rating on shares of Novartis in a report on Tuesday, October 31st. UBS Group restated a “neutral” rating on shares of Novartis in a report on Monday, January 15th. Bank of America lowered shares of Novartis from a “neutral” rating to an “underperform” rating in a report on Wednesday, December 6th. Finally, Zacks Investment Research lowered shares of Novartis from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. Novartis presently has an average rating of “Hold” and an average price target of $85.32.
Novartis (NYSE:NVS) last released its earnings results on Wednesday, January 24th. The company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.04. The business had revenue of $12.92 billion during the quarter, compared to the consensus estimate of $12.65 billion. Novartis had a net margin of 15.69% and a return on equity of 16.03%. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.14 earnings per share. equities analysts forecast that Novartis AG will post 5.36 EPS for the current year.
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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