Level Four Advisory Services LLC raised its stake in Novartis AG (NYSE:NVS – Free Report) by 16.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,926 shares of the company’s stock after purchasing an additional 1,838 shares during the period. Level Four Advisory Services LLC’s holdings in Novartis were worth $1,304,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. DT Investment Partners LLC bought a new stake in Novartis in the first quarter valued at $26,000. Fortis Capital Advisors LLC bought a new stake in Novartis in the fourth quarter valued at $27,000. Financial Management Professionals Inc. increased its stake in Novartis by 750.0% in the second quarter. Financial Management Professionals Inc. now owns 289 shares of the company’s stock valued at $29,000 after purchasing an additional 255 shares in the last quarter. ZRC Wealth Management LLC bought a new stake in Novartis in the first quarter valued at $32,000. Finally, Syverson Strege & Co bought a new stake in Novartis in the first quarter valued at $34,000. 7.00% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on NVS shares. HSBC started coverage on shares of Novartis in a report on Friday, July 14th. They set a “buy” rating for the company. StockNews.com started coverage on shares of Novartis in a report on Thursday, August 17th. They set a “strong-buy” rating for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $80.00.
Novartis Stock Down 0.9 %
Novartis stock opened at $101.14 on Friday. Novartis AG has a fifty-two week low of $74.09 and a fifty-two week high of $105.61. The stock has a market cap of $214.38 billion, a PE ratio of 28.17, a price-to-earnings-growth ratio of 1.79 and a beta of 0.54. The firm’s 50-day simple moving average is $102.18 and its 200 day simple moving average is $98.56. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.79 and a current ratio of 1.05.
Novartis (NYSE:NVS – Get Free Report) last released its quarterly earnings results on Wednesday, July 19th. The company reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.15. Novartis had a net margin of 14.76% and a return on equity of 25.12%. The business had revenue of $13.62 billion for the quarter, compared to analysts’ expectations of $6.32 million. During the same period in the previous year, the company earned $1.56 earnings per share. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. Research analysts predict that Novartis AG will post 6.92 EPS for the current fiscal year.
About Novartis
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.
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