Boston Advisors LLC lifted its stake in shares of Novartis AG (NYSE:NVS) by 148.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,398 shares of the company’s stock after purchasing an additional 3,820 shares during the quarter. Boston Advisors LLC’s holdings in Novartis AG were worth $549,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cetera Investment Advisers acquired a new stake in shares of Novartis AG during the 2nd quarter worth $241,000. Bartlett & Co. LLC boosted its stake in Novartis AG by 1.6% in the third quarter. Bartlett & Co. LLC now owns 473,081 shares of the company’s stock valued at $40,614,000 after buying an additional 7,249 shares in the last quarter. Westwood Holdings Group Inc. boosted 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 in the last quarter. GFS Advisors LLC boosted its stake in Novartis AG by 6.5% in the second quarter. GFS Advisors LLC now owns 21,314 shares of the company’s stock valued at $1,779,000 after buying an additional 1,300 shares in the last quarter. Finally, Schafer Cullen Capital Management Inc. boosted its stake in Novartis AG by 9.2% in the second quarter. Schafer Cullen Capital Management Inc. now owns 2,780,606 shares of the company’s stock valued at $232,097,000 after buying an additional 233,292 shares in the last quarter. 10.94% of the stock is currently owned by institutional investors.
Shares of Novartis AG (NYSE:NVS) opened at 82.58 on Wednesday. Novartis AG has a 52 week low of $66.93 and a 52 week high of $86.90. The stock’s 50 day moving average price is $85.12 and its 200-day moving average price is $82.70. The firm has a market capitalization of $193.48 billion, a price-to-earnings ratio of 30.15 and a beta of 0.73.
Novartis AG (NYSE:NVS) last posted its quarterly earnings data on Tuesday, October 24th. The company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.04. Novartis AG had a return on equity of 15.77% and a net margin of 13.73%. The firm had revenue of $12.41 billion during the quarter, compared to analysts’ expectations of $12.21 billion. During the same period in the prior year, the business earned $1.23 EPS. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities analysts predict that Novartis AG will post $4.78 earnings per share for the current year.
Several research firms recently weighed in on NVS. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Novartis AG in a research note on Tuesday. Zacks Investment Research raised Novartis AG from a “sell” rating to a “hold” rating in a research note on Thursday, October 26th. Barclays PLC lowered Novartis AG from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, October 25th. Finally, Leerink Swann raised their price objective on Novartis AG from $89.00 to $91.00 and gave the company a “market perform” rating in a research note on Monday, October 23rd. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. Novartis AG presently has an average rating of “Hold” and a consensus target price of $85.28.
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Novartis AG 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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