Kestra Advisory Services LLC raised its stake in Novartis AG (NYSE:NVS – Free Report) by 4.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 194,907 shares of the company’s stock after buying an additional 9,001 shares during the period. Kestra Advisory Services LLC’s holdings in Novartis were worth $27,788,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the stock. Archer Investment Corp increased its position in shares of Novartis by 93.0% during the first quarter. Archer Investment Corp now owns 166 shares of the company’s stock worth $25,000 after acquiring an additional 80 shares during the period. Highland Investment Advisors LLC bought a new stake in shares of Novartis during the second quarter valued at approximately $25,000. Evolution Wealth Management Inc. raised its stake in shares of Novartis by 552.0% during the second quarter. Evolution Wealth Management Inc. now owns 163 shares of the company’s stock valued at $26,000 after acquiring an additional 138 shares in the last quarter. Atlatl Advisers LLC bought a new stake in shares of Novartis during the second quarter valued at approximately $26,000. Finally, Curry Webb Wealth Management LLC purchased a new stake in shares of Novartis in the third quarter valued at approximately $28,000. 13.12% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
NVS has been the topic of several research analyst reports. Wall Street Zen raised Novartis from a “hold” rating to a “buy” rating in a research note on Saturday, October 31st. Deutsche Bank Aktiengesellschaft downgraded Novartis from a “hold” rating to a “sell” rating in a report on Friday, October 30th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Novartis in a research report on Sunday, August 9th. Sanford C. Bernstein reiterated a “neutral” rating on shares of Novartis in a report on Wednesday, July 22nd. Finally, Bank of America reissued a “buy” rating on shares of Novartis in a research report on Tuesday, September 8th. Six analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $152.25.
View Our Latest Stock Analysis on NVS
Novartis Trading Up 0.5%
Shares of NYSE NVS opened at $162.73 on Friday. Novartis AG has a 1-year low of $123.24 and a 1-year high of $170.46. The business has a fifty day moving average price of $148.83 and a 200 day moving average price of $152.25. The stock has a market capitalization of $310.51 billion, a P/E ratio of 31.06, a price-to-earnings-growth ratio of 2.99 and a beta of 0.40. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.88 and a quick ratio of 0.70.
Novartis (NYSE:NVS – Get Free Report) last posted its earnings results on Tuesday, October 27th. The company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.25 by $0.21. The company had revenue of $15.03 billion for the quarter, compared to analyst estimates of $14.53 billion. Novartis had a return on equity of 41.04% and a net margin of 18.11%. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.25 earnings per share. Equities research analysts expect that Novartis AG will post 9.04 EPS for the current fiscal year.
About Novartis
Novartis AG is a Swiss pharmaceutical company focused on discovering, developing, manufacturing and commercializing innovative medicines. Its research and products address conditions in areas including oncology, immunology, neuroscience, and cardiovascular, renal and metabolic health.
The company’s medicines include treatments such as Kisqali for certain breast cancers, Cosentyx for inflammatory diseases, Entresto for heart failure and Kesimpta for multiple sclerosis. Its portfolio also includes radioligand therapies and other specialized treatments.
Novartis was formed in 1996 through the merger of Swiss companies Ciba-Geigy and Sandoz.
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