Novartis AG (NYSE:NVS) Shares Bought by Camden National Bank

Camden National Bank increased its stake in Novartis AG (NYSE:NVS) by 1.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 74,420 shares of the company’s stock after acquiring an additional 809 shares during the quarter. Camden National Bank’s holdings in Novartis were worth $6,467,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of NVS. Asset Dedication LLC grew its holdings in shares of Novartis by 98.7% in the 2nd quarter. Asset Dedication LLC now owns 304 shares of the company’s stock worth $27,000 after acquiring an additional 151 shares during the last quarter. Moneta Group Investment Advisors LLC grew its holdings in shares of Novartis by 795.8% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 2,750 shares of the company’s stock worth $27,000 after acquiring an additional 2,443 shares during the last quarter. Vigilant Capital Management LLC acquired a new position in shares of Novartis in the 2nd quarter worth $37,000. Anderson Fisher LLC acquired a new position in shares of Novartis in the 2nd quarter worth $39,000. Finally, Manchester Financial Inc. acquired a new position in shares of Novartis in the 2nd quarter worth $45,000. Institutional investors and hedge funds own 11.19% of the company’s stock.

Shares of NVS stock traded up $0.63 on Friday, reaching $86.56. 41,491 shares of the company’s stock traded hands, compared to its average volume of 1,838,232. Novartis AG has a 12-month low of $71.86 and a 12-month high of $95.00. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.74 and a current ratio of 0.94. The company has a market capitalization of $195.54 billion, a P/E ratio of 17.05, a price-to-earnings-growth ratio of 2.27 and a beta of 0.59. The business’s 50 day moving average price is $87.73 and its two-hundred day moving average price is $87.94.

Novartis (NYSE:NVS) last issued its quarterly earnings results on Thursday, July 18th. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.14. Novartis had a return on equity of 18.55% and a net margin of 23.27%. The business had revenue of $11.76 billion for the quarter, compared to the consensus estimate of $11.45 billion. During the same quarter in the previous year, the company posted $1.29 earnings per share. Novartis’s revenue for the quarter was up 3.7% compared to the same quarter last year. Research analysts predict that Novartis AG will post 5.15 earnings per share for the current year.

NVS has been the topic of a number of recent research reports. Argus lifted their target price on Novartis to $105.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. They noted that the move was a valuation call. Jefferies Financial Group restated a “buy” rating on shares of Novartis in a report on Thursday, August 29th. Zacks Investment Research cut Novartis from a “buy” rating to a “hold” rating and set a $100.00 target price on the stock. in a report on Friday, July 19th. Kepler Capital Markets cut Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Finally, ValuEngine cut Novartis from a “hold” rating to a “sell” rating in a report on Thursday, September 12th. Five equities research analysts have rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $93.29.

Novartis Company 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.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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