World Investment Advisors grew its position in shares of Novartis AG (NYSE:NVS – Free Report) by 12.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,214 shares of the company’s stock after purchasing an additional 5,719 shares during the period. World Investment Advisors’ holdings in Novartis were worth $6,923,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in NVS. Arlington Trust Co LLC acquired a new position in Novartis during the fourth quarter worth $25,000. CrossGen Wealth LLC acquired a new stake in shares of Novartis in the fourth quarter valued at $28,000. Valley Wealth Managers Inc. acquired a new stake in shares of Novartis in the third quarter valued at $31,000. Bank of Jackson Hole Trust raised its stake in shares of Novartis by 425.0% in the fourth quarter. Bank of Jackson Hole Trust now owns 231 shares of the company’s stock valued at $32,000 after acquiring an additional 187 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC acquired a new stake in shares of Novartis in the third quarter valued at $33,000. 13.12% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on NVS. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Novartis in a research note on Thursday, February 12th. DZ Bank cut Novartis from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 9th. Sanford C. Bernstein upgraded Novartis to a “hold” rating in a research note on Thursday, March 19th. Morgan Stanley increased their price objective on Novartis from $143.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday, March 26th. Finally, Wall Street Zen cut Novartis from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Seven research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $141.20.
Novartis Stock Up 2.0%
Novartis stock opened at $148.20 on Wednesday. Novartis AG has a 1-year low of $104.93 and a 1-year high of $170.46. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.85 and a quick ratio of 0.65. The stock has a market cap of $282.78 billion, a PE ratio of 21.23, a P/E/G ratio of 2.55 and a beta of 0.46. The stock’s fifty day moving average is $151.95 and its two-hundred day moving average is $144.63.
Novartis (NYSE:NVS – Get Free Report) last posted its quarterly earnings results on Monday, April 27th. The company reported $1.99 earnings per share for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.12). The business had revenue of $13.52 billion during the quarter, compared to analyst estimates of $13.44 billion. Novartis had a net margin of 24.87% and a return on equity of 38.82%. The firm’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.28 earnings per share. On average, sell-side analysts expect that Novartis AG will post 8.85 EPS for the current fiscal year.
About Novartis
Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.
The company’s activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.
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