Benedict Financial Advisors Inc. boosted its stake in shares of Novartis AG (NYSE:NVS) by 2.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,400 shares of the company’s stock after buying an additional 330 shares during the period. Benedict Financial Advisors Inc.’s holdings in Novartis AG were worth $1,309,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in NVS. Westwood Holdings Group Inc. increased its stake in Novartis AG by 5.6% in the first quarter. Westwood Holdings Group Inc. now owns 5,405 shares of the company’s stock valued at $401,000 after buying an additional 285 shares during the last quarter. AT Bancorp increased its stake in Novartis AG by 4.2% in the first quarter. AT Bancorp now owns 11,690 shares of the company’s stock valued at $868,000 after buying an additional 470 shares during the last quarter. Mechanics Bank Trust Department purchased a new stake in Novartis AG during the second quarter valued at $389,000. Physicians Financial Services Inc. increased its stake in Novartis AG by 11.4% in the first quarter. Physicians Financial Services Inc. now owns 16,583 shares of the company’s stock valued at $1,232,000 after buying an additional 1,700 shares during the last quarter. Finally, Investment Centers of America Inc. increased its stake in Novartis AG by 3.1% in the first quarter. Investment Centers of America Inc. now owns 7,639 shares of the company’s stock valued at $566,000 after buying an additional 231 shares during the last quarter. Hedge funds and other institutional investors own 11.16% of the company’s stock.
Novartis AG (NVS) opened at 83.18 on Friday. The stock has a market cap of $194.88 billion, a price-to-earnings ratio of 30.37 and a beta of 0.73. Novartis AG has a 1-year low of $66.93 and a 1-year high of $86.90. The firm has a 50-day moving average price of $83.96 and a 200 day moving average price of $79.03.
Novartis AG (NYSE:NVS) last posted its quarterly earnings results on Tuesday, July 18th. The company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.06. The company had revenue of $12.24 billion for the quarter, compared to analyst estimates of $12.20 billion. Novartis AG had a return on equity of 15.51% and a net margin of 13.52%. Novartis AG’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.23 EPS. On average, equities research analysts anticipate that Novartis AG will post $4.73 EPS for the current fiscal year.
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Several analysts recently weighed in on NVS shares. Zacks Investment Research downgraded Novartis AG from a “hold” rating to a “sell” rating in a report on Monday, July 10th. J P Morgan Chase & Co restated a “neutral” rating on shares of Novartis AG in a report on Thursday, June 8th. Morgan Stanley upgraded Novartis AG from an “underweight” rating to an “overweight” rating in a report on Wednesday, July 26th. Cowen and Company set a $77.00 price objective on Novartis AG and gave the company a “hold” rating in a report on Tuesday, July 11th. Finally, TheStreet upgraded Novartis AG from a “c+” rating to a “b” rating in a report on Friday, June 2nd. Four analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $83.56.
In related news, major shareholder Bioventures Ltd Novartis purchased 266,667 shares of Novartis AG stock in a transaction on Wednesday, July 5th. The shares were bought at an average price of $15.00 per share, with a total value of $4,000,005.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.01% of the stock is owned by company insiders.
Novartis AG Company Profile
Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.
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