Novartis AG (NYSE:NVS) Shares Purchased by LaFleur & Godfrey LLC

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LaFleur & Godfrey LLC lifted its holdings in Novartis AG (NYSE:NVS) by 3.8% during the second quarter, Holdings Channel reports. The fund owned 70,496 shares of the company’s stock after buying an additional 2,580 shares during the quarter. Novartis makes up 1.6% of LaFleur & Godfrey LLC’s holdings, making the stock its 25th largest holding. LaFleur & Godfrey LLC’s holdings in Novartis were worth $6,437,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Cubist Systematic Strategies LLC lifted its holdings in Novartis by 10.1% during the second quarter. Cubist Systematic Strategies LLC now owns 7,489 shares of the company’s stock valued at $684,000 after purchasing an additional 685 shares in the last quarter. Vivaldi Capital Management LLC purchased a new position in Novartis during the second quarter valued at $221,000. Bank of America Corp DE lifted its holdings in Novartis by 1.3% during the second quarter. Bank of America Corp DE now owns 9,166,269 shares of the company’s stock valued at $836,972,000 after purchasing an additional 115,613 shares in the last quarter. Capital Bank & Trust Co lifted its holdings in Novartis by 5.8% during the second quarter. Capital Bank & Trust Co now owns 57,187 shares of the company’s stock valued at $5,201,000 after purchasing an additional 3,117 shares in the last quarter. Finally, Sio Capital Management LLC purchased a new position in Novartis during the second quarter valued at $8,297,000. Hedge funds and other institutional investors own 11.17% of the company’s stock.

Several equities analysts have issued reports on NVS shares. Argus increased their price objective on shares of Novartis to $105.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Novartis from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a report on Friday, July 19th. JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of Novartis in a report on Friday, July 5th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Novartis in a report on Thursday, August 29th. Finally, ValuEngine downgraded shares of Novartis from a “hold” rating to a “sell” rating in a report on Thursday, September 12th. Five analysts have rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $93.29.

Shares of NYSE NVS opened at $87.07 on Friday. The firm has a 50-day simple moving average of $89.35 and a 200-day simple moving average of $88.46. The stock has a market capitalization of $197.74 billion, a price-to-earnings ratio of 17.11, a price-to-earnings-growth ratio of 1.94 and a beta of 0.58. The company has a quick ratio of 0.74, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. Novartis AG has a 52 week low of $71.86 and a 52 week high of $95.00.

Novartis (NYSE:NVS) last issued its earnings results on Thursday, July 18th. The company reported $1.34 EPS for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.14. The business had revenue of $11.76 billion during the quarter, compared to analysts’ expectations of $11.45 billion. Novartis had a net margin of 23.27% and a return on equity of 18.55%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.29 earnings per share. As a group, equities research analysts expect that Novartis AG will post 5.15 EPS for the current year.

Novartis Profile

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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