OLD National Bancorp IN Has $1.19 Million Holdings in Novartis AG (NYSE:NVS)

Posted by on Jul 3rd, 2023

OLD National Bancorp IN lifted its stake in Novartis AG (NYSE:NVS – Free Report) by 4.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,952 shares of the company’s stock after buying an additional 512 shares during the period. OLD National Bancorp IN’s holdings in Novartis were worth $1,192,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. TCI Wealth Advisors Inc. increased its holdings in shares of Novartis by 193.0% during the fourth quarter. TCI Wealth Advisors Inc. now owns 293 shares of the company’s stock worth $27,000 after buying an additional 193 shares in the last quarter. Fortis Capital Advisors LLC bought a new stake in shares of Novartis in the fourth quarter worth $27,000. Financial Management Professionals Inc. grew its stake in shares of Novartis by 2,018.8% in the fourth quarter. Financial Management Professionals Inc. now owns 339 shares of the company’s stock worth $31,000 after purchasing an additional 323 shares during the last quarter. Resurgent Financial Advisors LLC bought a new stake in shares of Novartis in the fourth quarter worth $35,000. Finally, CoreCap Advisors LLC bought a new stake in Novartis during the fourth quarter valued at $37,000. 8.07% of the stock is currently owned by institutional investors and hedge funds.

Novartis Trading Up 1.6 %

Shares of NVS opened at $100.91 on Monday. The firm’s 50-day moving average price is $100.95 and its 200-day moving average price is $93.45. The firm has a market capitalization of $213.89 billion, a price-to-earnings ratio of 31.05, a PEG ratio of 1.67 and a beta of 0.55. The company has a current ratio of 1.05, a quick ratio of 0.79 and a debt-to-equity ratio of 0.39. Novartis AG has a 1-year low of $74.09 and a 1-year high of $105.56.

Novartis (NYSE:NVS – Free Report) last posted its quarterly earnings data on Tuesday, April 25th. The company reported $1.71 EPS for the quarter, topping the consensus estimate of $1.55 by $0.16. Novartis had a net margin of 13.78% and a return on equity of 23.29%. The business had revenue of $12.95 billion for the quarter, compared to analyst estimates of $12.60 billion. During the same quarter in the previous year, the firm posted $1.46 earnings per share. Novartis’s quarterly revenue was up 3.4% on a year-over-year basis. Sell-side analysts anticipate that Novartis AG will post 6.74 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have commented on NVS. StockNews.com began coverage on shares of Novartis in a research report on Thursday, May 18th. They set a “strong-buy” rating on the stock. BTIG Research upped their price target on shares of Novartis from $75.00 to $85.00 in a research report on Wednesday, April 19th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Novartis from a “hold” rating to a “buy” rating in a research report on Wednesday, April 26th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $82.25.

About Novartis

(Free Report)

Novartis AG researches, develops, manufactures, and markets healthcare products in Switzerland and internationally. The company operates through two segments: Innovative Medicines and Sandoz. The Innovative Medicines segment offers prescription medicines for patients and physicians. It also provides cardiovascular, ophthalmology, neuroscience, immunology, hematology, and solid tumor products.

Featured Stories

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 – Free Report).

Institutional Ownership by Quarter for Novartis (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.