Berkeley Capital Partners LLC boosted its stake in Novartis AG (NYSE:NVS – Get Rating) by 226.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,557 shares of the company's stock after buying an additional 8,713 shares during the quarter. Berkeley Capital Partners LLC's holdings in Novartis were worth $1,102,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. AHL Investment Management Inc. purchased a new position in Novartis in the 4th quarter worth approximately $25,000. Dixon Hughes Goodman Wealth Advisors LLC purchased a new position in Novartis in the 4th quarter worth approximately $32,000. Atwood & Palmer Inc. lifted its stake in Novartis by 400.0% in the 1st quarter. Atwood & Palmer Inc. now owns 375 shares of the company's stock worth $33,000 after purchasing an additional 300 shares in the last quarter. DeDora Capital Inc. purchased a new position in Novartis in the 1st quarter worth approximately $34,000. Finally, Allegheny Financial Group LTD acquired a new stake in shares of Novartis during the 4th quarter worth approximately $34,000. 9.40% of the stock is owned by hedge funds and other institutional investors.
Get Novartis alerts:Wall Street Analyst Weigh In
A number of analysts have recently issued reports on NVS shares. Wolfe Research downgraded shares of Novartis from an "outperform" rating to a "market perform" rating in a report on Monday, May 9th. Credit Suisse Group raised their price target on shares of Novartis from CHF 85 to CHF 88 in a report on Thursday, April 28th. JPMorgan Chase & Co. raised their price target on shares of Novartis from CHF 80 to CHF 81 and gave the stock an "underweight" rating in a report on Wednesday, July 20th. upgraded shares of Novartis from a "hold" rating to a "buy" rating in a report on Thursday, April 14th. Finally, UBS Group lifted their target price on shares of Novartis from CHF 85 to CHF 88 and gave the company a "neutral" rating in a report on Wednesday, April 27th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $87.33.
Novartis Stock Performance
NYSE:NVS opened at $85.83 on Friday. The company has a market cap of $189.91 billion, a price-to-earnings ratio of 8.39, a price-to-earnings-growth ratio of 2.43 and a beta of 0.53. The company has a fifty day simple moving average of $85.65 and a two-hundred day simple moving average of $86.76. Novartis AG has a 52 week low of $79.09 and a 52 week high of $95.17. The company has a quick ratio of 1.13, a current ratio of 1.38 and a debt-to-equity ratio of 0.35.
Novartis (NYSE:NVS – Get Rating) last released its quarterly earnings data on Monday, July 18th. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.04. The business had revenue of $12.78 billion during the quarter, compared to analysts' expectations of $12.78 billion. Novartis had a net margin of 44.31% and a return on equity of 21.88%. The company's revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.64 EPS. As a group, equities analysts anticipate that Novartis AG will post 6.06 earnings per share for the current fiscal year.
Novartis Company Profile
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Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company operates through two segments, Innovative Medicines and Sandoz. The Innovative Medicines segment offers prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology, dermatology, respiratory, cardiovascular, renal, and metabolism medicine products.
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