CORDA Investment Management LLC. increased its stake in shares of Novartis AG (NYSE:NVS) by 2.7% in the 2nd quarter, Holdings Channel reports. The firm owned 168,114 shares of the company’s stock after purchasing an additional 4,444 shares during the period. CORDA Investment Management LLC.’s holdings in Novartis were worth $15,338,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Allworth Financial LP raised its holdings in Novartis by 76.0% in the 2nd quarter. Allworth Financial LP now owns 403 shares of the company’s stock valued at $37,000 after acquiring an additional 174 shares during the last quarter. RMR Wealth Builders increased its holdings in shares of Novartis by 222.7% during the 1st quarter. RMR Wealth Builders now owns 455 shares of the company’s stock worth $39,000 after buying an additional 314 shares during the last quarter. Anfield Capital Management LLC acquired a new stake in shares of Novartis during the 2nd quarter worth approximately $42,000. Certified Advisory Corp purchased a new position in shares of Novartis during the 1st quarter worth approximately $43,000. Finally, KB Financial Partners LLC purchased a new position in shares of Novartis during the 1st quarter worth approximately $47,000. Hedge funds and other institutional investors own 9.90% of the company’s stock.
A number of equities analysts recently weighed in on NVS shares. Zacks Investment Research cut shares of Novartis from a “hold” rating to a “sell” rating and set a $96.00 price objective for the company. in a research report on Monday, July 26th. Deutsche Bank Aktiengesellschaft cut shares of Novartis from a “hold” rating to a “sell” rating in a research report on Monday. Finally, JPMorgan Chase & Co. reissued an “underweight” rating on shares of Novartis in a research report on Wednesday, July 28th. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $104.33.
Novartis (NYSE:NVS) last posted its quarterly earnings data on Tuesday, July 20th. The company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.14. The company had revenue of $12.96 billion for the quarter, compared to analyst estimates of $12.41 billion. Novartis had a net margin of 17.83% and a return on equity of 25.25%. Novartis’s quarterly revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.36 earnings per share. As a group, sell-side analysts forecast that Novartis AG will post 6.28 EPS for the current fiscal year.
Novartis AG is a holding company, which engages in the development, manufacture, and marketing of healthcare products. It operates through the following segments: Innovative Medicines, Sandoz, and Corporate. The Innovative Medicines segment researches, develops, manufactures, distributes and sells patented pharmaceuticals, and is composed of two business units: Novartis Oncology and Novartis Pharmaceuticals.
Want to see what other hedge funds are holding NVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Novartis AG (NYSE:NVS).
Receive News & Ratings for Novartis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novartis and related companies with MarketBeat.com's FREE daily email newsletter.