Mirador Capital Partners LP raised its holdings in shares of Novartis AG (NYSE:NVS – Get Rating) by 3.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,747 shares of the company's stock after acquiring an additional 956 shares during the quarter. Mirador Capital Partners LP's holdings in Novartis were worth $2,259,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in NVS. AHL Investment Management Inc. bought a new position in Novartis in the fourth quarter valued at $25,000. Dixon Hughes Goodman Wealth Advisors LLC bought a new position in shares of Novartis in the 4th quarter valued at about $32,000. Atwood & Palmer Inc. grew its holdings in shares of Novartis by 400.0% in the 1st quarter. Atwood & Palmer Inc. now owns 375 shares of the company's stock valued at $33,000 after acquiring an additional 300 shares in the last quarter. DeDora Capital Inc. acquired a new stake in shares of Novartis in the first quarter valued at about $34,000. Finally, Allegheny Financial Group LTD bought a new stake in Novartis during the fourth quarter worth about $34,000. 9.40% of the stock is currently owned by institutional investors and hedge funds.
Get Novartis alerts:Analysts Set New Price Targets
NVS has been the subject of a number of analyst reports. Morgan Stanley raised their price target on Novartis from CHF 90 to CHF 94 in a research note on Friday, May 6th. Oppenheimer lowered shares of Novartis from an "outperform" rating to a "market perform" rating in a research report on Friday, June 3rd. JPMorgan Chase & Co. lifted their price objective on shares of Novartis from CHF 80 to CHF 81 and gave the company an "underweight" rating in a research report on Wednesday, July 20th. UBS Group upped 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. Finally, Wolfe Research cut Novartis from an "outperform" rating to a "market perform" rating in a research report on Monday, May 9th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Novartis has an average rating of "Hold" and a consensus target price of $87.33.
Novartis Stock Performance
Shares of NYSE NVS opened at $85.83 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.38 and a quick ratio of 1.13. The firm has a market cap of $189.91 billion, a price-to-earnings ratio of 8.39, a P/E/G ratio of 2.43 and a beta of 0.51. The stock's fifty day moving average price is $85.65 and its two-hundred day moving average price is $86.74. Novartis AG has a one year low of $79.09 and a one year high of $95.17.Novartis (NYSE:NVS – Get Rating) last released its quarterly earnings results on Monday, July 18th. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.52 by $0.04. Novartis had a net margin of 44.31% and a return on equity of 21.88%. The business had revenue of $12.78 billion for the quarter, compared to the consensus estimate of $12.78 billion. During the same period in the prior year, the company posted $1.64 earnings per share. Novartis's revenue was down 1.4% compared to the same quarter last year. On average, equities analysts forecast that Novartis AG will post 6.06 EPS for the current year.
Novartis Profile
(Get Rating)
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.
Recommended Stories
- Get a free copy of the StockNews.com research report on Novartis (NVS)
- These Stocks Outperformed Last Time There Was A Recession
- Does Rivian's Stock Still Have A Future?
- Use These To Find Your Stock's Support and Resistance Levels
- Is Boeing Stock is Ready for Lift-Off ?
- Elon Musk is Out, But Should You Be In Twitter Stock?
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.