Armor Investment Advisors LLC continued to hold its position in shares of Novartis AG (NYSE:NVS) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 4,050 shares of the company’s stock at the end of the 2nd quarter. Armor Investment Advisors LLC’s holdings in Novartis AG were worth $338,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NVS. Parnassus Investments CA boosted its stake in Novartis AG by 89.4% in the 1st quarter. Parnassus Investments CA now owns 8,173,974 shares of the company’s stock valued at $593,720,000 after purchasing an additional 3,858,632 shares during the period. BlackRock Inc. bought a new stake in Novartis AG in the 1st quarter valued at $210,378,000. Janus Capital Management LLC boosted its stake in Novartis AG by 34,406.2% in the 1st quarter. Janus Capital Management LLC now owns 1,759,816 shares of the company’s stock valued at $130,696,000 after purchasing an additional 1,754,716 shares during the period. Wells Fargo & Company MN boosted its stake in Novartis AG by 12.2% in the 1st quarter. Wells Fargo & Company MN now owns 9,100,801 shares of the company’s stock valued at $675,917,000 after purchasing an additional 988,301 shares during the period. Finally, Principal Financial Group Inc. bought a new stake in Novartis AG in the 2nd quarter valued at $71,606,000. Institutional investors and hedge funds own 10.98% of the company’s stock.
Several analysts recently issued reports on NVS shares. J P Morgan Chase & Co restated a “neutral” rating on shares of Novartis AG in a research note on Tuesday, September 5th. BidaskClub upgraded Novartis AG from a “sell” rating to a “hold” rating in a research note on Saturday, August 5th. Cowen and Company restated a “hold” rating on shares of Novartis AG in a research note on Tuesday, July 18th. UBS AG restated a “neutral” rating on shares of Novartis AG in a research note on Tuesday, May 30th. Finally, Zacks Investment Research downgraded Novartis AG from a “hold” rating to a “sell” rating in a research note on Monday, July 10th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. Novartis AG has an average rating of “Hold” and a consensus price target of $83.56.
Shares of Novartis AG (NYSE NVS) opened at 85.63 on Friday. The company has a market capitalization of $200.62 billion, a P/E ratio of 31.26 and a beta of 0.74. Novartis AG has a 52-week low of $66.93 and a 52-week high of $86.90. The stock’s 50 day moving average price is $84.13 and its 200-day moving average price is $80.00.
Novartis AG (NYSE:NVS) last posted its quarterly earnings results on Tuesday, July 18th. The company reported $1.22 EPS for the quarter, topping the Zacks’ 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 earned $1.23 earnings per share. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, equities analysts expect that Novartis AG will post $4.75 earnings per share for the current year.
In related news, major shareholder Bioventures Ltd Novartis purchased 266,667 shares of the business’s 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.01% of the stock is owned by company insiders.
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About Novartis AG
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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