Segall Bryant & Hamill LLC acquired a new stake in shares of Novartis AG (NYSE:NVS – Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 18,792 shares of the company’s stock, valued at approximately $2,928,000.
A number of other institutional investors have also made changes to their positions in the company. TrueWealth Financial Partners purchased a new stake in Novartis during the 1st quarter worth $222,000. Western Wealth Management LLC boosted its position in Novartis by 3.6% in the 1st quarter. Western Wealth Management LLC now owns 2,989 shares of the company’s stock valued at $457,000 after buying an additional 105 shares during the last quarter. Bank of America Corp DE boosted its position in Novartis by 9.1% in the 1st quarter. Bank of America Corp DE now owns 4,962,794 shares of the company’s stock valued at $758,067,000 after buying an additional 413,778 shares during the last quarter. Hamilton Wealth LLC purchased a new position in Novartis in the 1st quarter valued at about $559,000. Finally, Janus Henderson Group PLC grew its stake in shares of Novartis by 1.9% during the first quarter. Janus Henderson Group PLC now owns 2,275,938 shares of the company’s stock valued at $347,649,000 after acquiring an additional 41,520 shares in the last quarter. 13.12% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Novartis in a research report on Friday, July 24th. Citigroup reissued a “buy” rating on shares of Novartis in a report on Wednesday, July 22nd. Seven equities 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 MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $141.20.
Novartis Stock Down 0.2%
Shares of NYSE:NVS opened at $153.37 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.67 and a debt-to-equity ratio of 0.89. The company has a fifty day simple moving average of $152.74 and a 200 day simple moving average of $152.93. The firm has a market cap of $292.66 billion, a PE ratio of 23.13, a price-to-earnings-growth ratio of 2.63 and a beta of 0.45. Novartis AG has a 12-month low of $113.48 and a 12-month high of $170.46.
Novartis (NYSE:NVS – Get Free Report) last posted its quarterly earnings results on Tuesday, June 30th. The company reported $2.41 earnings per share (EPS) for the quarter. Novartis had a net margin of 23.29% and a return on equity of 38.56%. The firm had revenue of $14.95 billion for the quarter. On average, equities research analysts anticipate that Novartis AG will post 8.85 EPS for the current fiscal year.
Novartis Company Profile
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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