Novartis AG (NYSE:NVS) Shares Purchased by Parallel Advisors LLC

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Parallel Advisors LLC lifted its position in Novartis AG (NYSE:NVS) by 31.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,648 shares of the company’s stock after purchasing an additional 1,603 shares during the quarter. Parallel Advisors LLC’s holdings in Novartis were worth $578,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NVS. Buckingham Capital Management Inc. bought a new position in shares of Novartis during the 1st quarter valued at approximately $227,000. Cox Capital Mgt LLC grew its stake in shares of Novartis by 4.1% during the 2nd quarter. Cox Capital Mgt LLC now owns 20,451 shares of the company’s stock valued at $1,867,000 after acquiring an additional 806 shares during the period. Private Trust Co. NA grew its stake in shares of Novartis by 9.1% during the 2nd quarter. Private Trust Co. NA now owns 3,496 shares of the company’s stock valued at $319,000 after acquiring an additional 293 shares during the period. Montecito Bank & Trust grew its stake in shares of Novartis by 18.2% during the 2nd quarter. Montecito Bank & Trust now owns 4,722 shares of the company’s stock valued at $431,000 after acquiring an additional 726 shares during the period. Finally, Rockland Trust Co. bought a new position in shares of Novartis during the 2nd quarter valued at approximately $248,000. 11.19% of the stock is owned by hedge funds and other institutional investors.

NVS stock traded up $1.12 during midday trading on Friday, hitting $88.11. The company’s stock had a trading volume of 724,018 shares, compared to its average volume of 1,752,134. Novartis AG has a 12 month low of $72.19 and a 12 month high of $95.00. The company has a quick ratio of 0.73, a current ratio of 0.95 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $199.13 billion, a price-to-earnings ratio of 17.31, a price-to-earnings-growth ratio of 1.94 and a beta of 0.59. The company has a 50 day moving average of $86.77 and a two-hundred day moving average of $87.69.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.10. Novartis had a return on equity of 20.86% and a net margin of 24.43%. The business had revenue of $12.17 billion during the quarter, compared to the consensus estimate of $11.67 billion. During the same period in the prior year, the company posted $1.32 EPS. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, analysts anticipate that Novartis AG will post 5.16 earnings per share for the current fiscal year.

NVS has been the subject of a number of recent research reports. Argus boosted their price objective on Novartis to $105.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. They noted that the move was a valuation call. Jefferies Financial Group reiterated a “buy” rating on shares of Novartis in a research note on Thursday, August 29th. Kepler Capital Markets downgraded Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Zacks Investment Research downgraded Novartis from a “buy” rating to a “hold” rating and set a $100.00 price objective for the company. in a research note on Friday, July 19th. Finally, Cowen restated a “buy” rating and issued a $100.00 price target on shares of Novartis in a research note on Friday, October 25th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $95.28.

Novartis Company 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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