Spectrum Management Group Inc. acquired a new stake in shares of Novartis AG (NYSE:NVS) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 695 shares of the company’s stock, valued at approximately $67,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Truvestments Capital LLC bought a new position in shares of Novartis in the first quarter valued at about $25,000. Canton Hathaway LLC bought a new position in shares of Novartis in the first quarter valued at about $26,000. AlphaMark Advisors LLC bought a new position in shares of Novartis in the fourth quarter valued at about $30,000. Laurel Wealth Advisors LLC bought a new position in shares of Novartis in the fourth quarter valued at about $35,000. Finally, Executive Wealth Management LLC bought a new position in shares of Novartis in the fourth quarter valued at about $36,000. Hedge funds and other institutional investors own 11.72% of the company’s stock.
Novartis stock traded up $0.80 during trading hours on Wednesday, reaching $81.87. 1,179,209 shares of the stock were exchanged, compared to its average volume of 2,618,485. The company has a market capitalization of $187.27 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 2.00 and a beta of 0.66. The company has a quick ratio of 0.83, a current ratio of 0.93 and a debt-to-equity ratio of 0.48. Novartis AG has a twelve month low of $63.60 and a twelve month high of $85.08.
Novartis (NYSE:NVS) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.10. Novartis had a net margin of 24.55% and a return on equity of 16.75%. The firm had revenue of $11.11 billion for the quarter, compared to the consensus estimate of $11.76 billion. During the same period in the prior year, the company posted $1.28 earnings per share. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, sell-side analysts expect that Novartis AG will post 4.95 earnings per share for the current year.
NVS has been the topic of several research reports. JPMorgan Chase & Co. restated a “sell” rating on shares of Novartis in a research note on Wednesday, January 16th. Morgan Stanley downgraded shares of 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. Guggenheim upgraded shares of 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 downgraded shares of Novartis from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 11th. Finally, Liberum Capital upgraded shares of Novartis from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. Five investment analysts have rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $87.57.
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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