Fox Run Management L.L.C. acquired a new stake in shares of Novartis AG (NYSE:NVS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,700 shares of the company’s stock, valued at approximately $392,000.
A number of other hedge funds have also recently bought and sold shares of NVS. Kernodle & Katon Asset Management Group LLC boosted its stake in shares of Novartis AG by 3.4% in the first quarter. Kernodle & Katon Asset Management Group LLC now owns 1,488 shares of the company’s stock worth $111,000 after buying an additional 49 shares in the last quarter. First PREMIER Bank boosted its stake in shares of Novartis AG by 2.4% in the first quarter. First PREMIER Bank now owns 2,242 shares of the company’s stock worth $166,000 after buying an additional 52 shares in the last quarter. Mosaic Family Wealth LLC boosted its stake in shares of Novartis AG by 3.6% in the first quarter. Mosaic Family Wealth LLC now owns 2,021 shares of the company’s stock worth $150,000 after buying an additional 71 shares in the last quarter. Essex Investment Management Co. LLC boosted its stake in shares of Novartis AG by 0.8% in the first quarter. Essex Investment Management Co. LLC now owns 9,409 shares of the company’s stock worth $699,000 after buying an additional 78 shares in the last quarter. Finally, Dubuque Bank & Trust Co. boosted its stake in shares of Novartis AG by 3.9% in the first quarter. Dubuque Bank & Trust Co. now owns 2,526 shares of the company’s stock worth $188,000 after buying an additional 94 shares in the last quarter. 11.16% of the stock is currently owned by institutional investors and hedge funds.
Shares of Novartis AG (NVS) opened at 82.76 on Friday. Novartis AG has a 52 week low of $66.93 and a 52 week high of $86.90. The stock has a market capitalization of $193.90 billion, a price-to-earnings ratio of 30.22 and a beta of 0.73. The firm’s 50-day moving average is $83.92 and its 200-day moving average is $79.10.
Novartis AG (NYSE:NVS) last posted its quarterly earnings data on Tuesday, July 18th. The company reported $1.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.06. Novartis AG had a net margin of 13.52% and a return on equity of 15.51%. The business had revenue of $12.24 billion during the quarter, compared to the consensus estimate of $12.20 billion. During the same period in the previous year, the firm posted $1.23 earnings per share. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. Analysts forecast that Novartis AG will post $4.73 earnings per share for the current fiscal year.
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NVS has been the topic of a number of analyst reports. Zacks Investment Research cut Novartis AG from a “hold” rating to a “sell” rating in a research report on Monday, July 10th. Credit Suisse Group cut Novartis AG from a “neutral” rating to an “underperform” rating and set a $82.25 price target on the stock. in a research report on Wednesday, July 5th. Morgan Stanley raised Novartis AG from an “underweight” rating to an “overweight” rating in a research report on Wednesday, July 26th. Leerink Swann reissued a “market perform” rating and issued a $83.00 price target on shares of Novartis AG in a research report on Thursday, June 22nd. Finally, Vetr cut Novartis AG from a “buy” rating to a “hold” rating and set a $78.32 price target on the stock. in a research report on Tuesday, April 25th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $83.56.
In related news, major shareholder Bioventures Ltd Novartis acquired 266,667 shares of the stock in a transaction dated Wednesday, July 5th. The stock was acquired at an average cost of $15.00 per share, for a total transaction of $4,000,005.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.01% of the company’s stock.
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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