HC Financial Advisors Inc. increased its stake in shares of Novartis AG (NYSE:NVS) by 5.1% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 16,934 shares of the company’s stock after purchasing an additional 816 shares during the period. HC Financial Advisors Inc.’s holdings in Novartis were worth $1,459,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Fisher Asset Management LLC increased its stake in Novartis by 4.5% in the 2nd quarter. Fisher Asset Management LLC now owns 7,325,261 shares of the company’s stock worth $553,350,000 after acquiring an additional 318,787 shares during the last quarter. Boston Partners increased its stake in Novartis by 106.0% in the 2nd quarter. Boston Partners now owns 5,606,630 shares of the company’s stock worth $423,525,000 after acquiring an additional 2,885,436 shares during the last quarter. Charles Schwab Investment Advisory Inc. bought a new position in Novartis in the 2nd quarter worth about $297,538,000. Renaissance Technologies LLC increased its stake in Novartis by 89.3% in the 2nd quarter. Renaissance Technologies LLC now owns 3,856,288 shares of the company’s stock worth $291,304,000 after acquiring an additional 1,819,590 shares during the last quarter. Finally, Mawer Investment Management Ltd. increased its stake in Novartis by 2.2% in the 2nd quarter. Mawer Investment Management Ltd. now owns 2,968,452 shares of the company’s stock worth $224,237,000 after acquiring an additional 65,185 shares during the last quarter. 10.94% of the stock is currently owned by institutional investors and hedge funds.
NVS has been the topic of a number of research analyst reports. JPMorgan Chase & Co. restated a “neutral” rating on shares of Novartis in a research note on Thursday, October 11th. Zacks Investment Research lowered Novartis from a “hold” rating to a “sell” rating in a research note on Wednesday, August 29th. BNP Paribas upgraded Novartis from an “underperform” rating to a “neutral” rating in a research note on Tuesday, September 11th. Bank of America upgraded Novartis from an “underperform” rating to a “buy” rating and set a $74.71 target price on the stock in a research note on Monday, September 10th. Finally, ValuEngine upgraded Novartis from a “sell” rating to a “hold” rating in a research note on Wednesday, September 12th. Thirteen investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $86.90.
Shares of Novartis stock traded up $0.96 during trading on Thursday, hitting $86.24. 5,483,800 shares of the stock traded hands, compared to its average volume of 1,772,981. The company has a current ratio of 1.15, a quick ratio of 0.89 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $199.67 billion, a PE ratio of 17.89, a price-to-earnings-growth ratio of 1.80 and a beta of 0.83. Novartis AG has a 52 week low of $72.30 and a 52 week high of $94.19.
Novartis (NYSE:NVS) last announced its quarterly earnings data on Thursday, October 18th. The company reported $1.32 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.02). The firm had revenue of $12.78 billion for the quarter, compared to the consensus estimate of $12.88 billion. Novartis had a net margin of 27.06% and a return on equity of 16.05%. Novartis’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.29 earnings per share. As a group, analysts predict that Novartis AG will post 5.17 earnings per share for the current fiscal year.
Novartis AG researches, develops, manufactures, and markets a range of healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines to enhance health outcomes for patients and health-care providers. This segment also commercializes products in the areas of oncology and rare diseases, ophthalmology, immunology and dermatology, neuroscience, respiratory, cardio-metabolic, and established medicines.
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