McIlrath & Eck LLC Buys 154 Shares of Novartis AG (NVS)

McIlrath & Eck LLC boosted its stake in shares of Novartis AG (NYSE:NVS) by 42.8% during the first quarter, Holdings Channel reports. The institutional investor owned 514 shares of the company’s stock after purchasing an additional 154 shares during the quarter. McIlrath & Eck LLC’s holdings in Novartis were worth $49,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new position in shares of Novartis in the 1st quarter valued at $25,000. Canton Hathaway LLC acquired a new position in shares of Novartis in the 1st quarter valued at $26,000. Harvest Group Wealth Management LLC acquired a new position in shares of Novartis in the 1st quarter valued at $27,000. Financial Gravity Wealth Inc. acquired a new position in shares of Novartis in the 1st quarter valued at $33,000. Finally, AlphaMark Advisors LLC acquired a new position in shares of Novartis in the 4th quarter valued at $30,000. 11.66% of the stock is currently owned by institutional investors.

Shares of NVS stock traded up $0.50 on Wednesday, hitting $81.23. The stock had a trading volume of 18,509 shares, compared to its average volume of 2,924,542. The company has a current ratio of 0.93, a quick ratio of 0.83 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $185.98 billion, a PE ratio of 15.94, a P/E/G ratio of 1.94 and a beta of 0.66. Novartis AG has a 1 year low of $63.60 and a 1 year high of $85.08.

Novartis (NYSE:NVS) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $1.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.10. The firm had revenue of $11.11 billion for the quarter, compared to the consensus estimate of $11.76 billion. Novartis had a return on equity of 16.75% and a net margin of 24.55%. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.28 EPS. Research analysts predict that Novartis AG will post 4.98 EPS for the current fiscal year.

Several brokerages have recently commented on NVS. Liberum Capital raised Novartis from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. Guggenheim raised Novartis from a “neutral” rating to a “buy” rating and set a $79.16 price target on the stock in a research note on Wednesday, April 24th. Zacks Investment Research lowered Novartis from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 11th. Morgan Stanley lowered Novartis from an “equal weight” rating to an “underweight” rating and upped their price target for the company from $82.50 to $82.52 in a research note on Wednesday, April 10th. Finally, JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of Novartis in a research note on Tuesday, January 29th. Five analysts have rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $87.57.

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Novartis Profile

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.

Further Reading: No Load Funds

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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