Mcdaniel Terry & Co. lifted its position in shares of Novartis AG (NYSE:NVS) by 0.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 201,665 shares of the company’s stock after acquiring an additional 355 shares during the quarter. Novartis AG makes up about 3.3% of Mcdaniel Terry & Co.’s investment portfolio, making the stock its 20th largest position. Mcdaniel Terry & Co.’s holdings in Novartis AG were worth $16,833,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in NVS. CGOV Asset Management raised its position in shares of Novartis AG by 2.5% during the first quarter. CGOV Asset Management now owns 997,161 shares of the company’s stock worth $98,662,000 after acquiring an additional 24,430 shares during the last quarter. Nationwide Fund Advisors raised its position in shares of Novartis AG by 8.1% during the first quarter. Nationwide Fund Advisors now owns 53,616 shares of the company’s stock worth $3,982,000 after acquiring an additional 4,016 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Novartis AG during the first quarter worth $2,740,000. Canal Capital Management LLC raised its position in shares of Novartis AG by 143.8% during the first quarter. Canal Capital Management LLC now owns 20,192 shares of the company’s stock worth $1,500,000 after acquiring an additional 11,909 shares during the last quarter. Finally, Coconut Grove Bank raised its position in shares of Novartis AG by 41.5% during the first quarter. Coconut Grove Bank now owns 2,914 shares of the company’s stock worth $216,000 after acquiring an additional 854 shares during the last quarter. Institutional investors own 10.98% of the company’s stock.
Shares of Novartis AG (NYSE:NVS) opened at 85.94 on Wednesday. The company has a market capitalization of $201.35 billion, a P/E ratio of 31.38 and a beta of 0.74. The firm has a 50 day moving average price of $84.15 and a 200 day moving average price of $80.10. Novartis AG has a one year low of $66.93 and a one year high of $86.90.
Novartis AG (NYSE:NVS) last posted its quarterly earnings data on Tuesday, July 18th. The company reported $1.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.06. Novartis AG had a return on equity of 15.51% and a net margin of 13.52%. The firm had revenue of $12.24 billion during the quarter, compared to analyst estimates of $12.20 billion. During the same period last year, the company posted $1.23 EPS. The business’s quarterly revenue was down 1.8% on a year-over-year basis. On average, equities research analysts predict that Novartis AG will post $4.75 EPS for the current fiscal year.
A number of equities research analysts have recently weighed in on NVS shares. J P Morgan Chase & Co restated a “neutral” rating on shares of Novartis AG in a research report on Tuesday, September 5th. BidaskClub upgraded Novartis AG from a “sell” rating to a “hold” rating in a research report on Saturday, August 5th. Cowen and Company restated a “hold” rating on shares of Novartis AG in a research report on Tuesday, July 18th. UBS AG reiterated a “neutral” rating on shares of Novartis AG in a report on Tuesday, May 30th. Finally, Zacks Investment Research downgraded Novartis AG from a “hold” rating to a “sell” rating in a report on Monday, July 10th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. Novartis AG currently has an average rating of “Hold” and a consensus price target of $83.56.
In other Novartis AG news, major shareholder Bioventures Ltd Novartis acquired 266,667 shares of the stock in a transaction dated Wednesday, July 5th. The stock was purchased at an average cost of $15.00 per share, with a total value of $4,000,005.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company 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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