Lucas Capital Management Takes $232,000 Position in Novartis AG (NVS)

Lucas Capital Management acquired a new position in shares of Novartis AG (NYSE:NVS) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,700 shares of the company’s stock, valued at approximately $232,000.

A number of other hedge funds have also made changes to their positions in the stock. Parnassus Investments CA grew its holdings in Novartis AG by 18.5% during the third quarter. Parnassus Investments CA now owns 9,447,817 shares of the company’s stock worth $811,095,000 after acquiring an additional 1,477,168 shares during the period. Bank of America Corp DE boosted its position in Novartis AG by 7.5% during the first quarter. Bank of America Corp DE now owns 7,328,730 shares of the company’s stock worth $544,304,000 after purchasing an additional 508,435 shares in the last quarter. Fisher Asset Management LLC boosted its position in Novartis AG by 2.0% during the third quarter. Fisher Asset Management LLC now owns 6,632,984 shares of the company’s stock worth $569,442,000 after purchasing an additional 127,049 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Novartis AG by 3.1% during the second quarter. The Manufacturers Life Insurance Company now owns 5,036,427 shares of the company’s stock worth $420,390,000 after purchasing an additional 151,115 shares in the last quarter. Finally, BlackRock Inc. boosted its position in Novartis AG by 25.3% during the second quarter. BlackRock Inc. now owns 3,549,783 shares of the company’s stock worth $296,299,000 after purchasing an additional 717,186 shares in the last quarter. 11.00% of the stock is currently owned by hedge funds and other institutional investors.

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Novartis AG (NVS) traded down $0.10 during trading on Monday, reaching $82.38. The company had a trading volume of 1,182,500 shares, compared to its average volume of 2,350,100. The firm has a market capitalization of $216,200.00, a price-to-earnings ratio of 17.34, a P/E/G ratio of 2.63 and a beta of 0.72. Novartis AG has a 52-week low of $66.93 and a 52-week high of $86.90. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.08 and a quick ratio of 0.81.

Novartis AG (NYSE:NVS) last released its earnings results on Tuesday, October 24th. The company reported $1.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.04. The firm had revenue of $12.41 billion during the quarter, compared to analyst estimates of $12.21 billion. Novartis AG had a return on equity of 15.77% and a net margin of 13.73%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.23 earnings per share. equities research analysts forecast that Novartis AG will post 4.75 EPS for the current fiscal year.

A number of analysts have commented on NVS shares. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Novartis AG in a research report on Monday, July 17th. Cowen and Company reiterated a “hold” rating on shares of Novartis AG in a research report on Tuesday, July 18th. Morgan Stanley upgraded Novartis AG from an “underweight” rating to an “overweight” rating in a research report on Wednesday, July 26th. BidaskClub downgraded Novartis AG from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Finally, Zacks Investment Research upgraded Novartis AG from a “hold” rating to a “buy” rating and set a $96.00 target price on the stock in a research report on Tuesday, September 19th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $85.32.

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.

Institutional Ownership by Quarter for Novartis AG (NYSE:NVS)

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