Chicago Partners Investment Group LLC increased its holdings in shares of Novartis AG (NYSE:NVS) by 40.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,573 shares of the company’s stock after buying an additional 735 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Novartis were worth $222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also made changes to their positions in NVS. Charles Schwab Investment Advisory Inc. purchased a new position in Novartis during the 2nd quarter worth $297,538,000. Boston Partners grew its stake in Novartis by 106.0% during the 2nd quarter. Boston Partners now owns 5,606,630 shares of the company’s stock worth $423,525,000 after buying an additional 2,885,436 shares during the last quarter. Renaissance Technologies LLC grew its stake in Novartis by 89.3% during the 2nd quarter. Renaissance Technologies LLC now owns 3,856,288 shares of the company’s stock worth $291,304,000 after buying an additional 1,819,590 shares during the last quarter. Fiera Capital Corp grew its stake in Novartis by 453.4% during the 2nd quarter. Fiera Capital Corp now owns 975,917 shares of the company’s stock worth $73,721,000 after buying an additional 799,580 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in Novartis by 32.2% during the 2nd quarter. Janus Henderson Group PLC now owns 2,525,979 shares of the company’s stock worth $190,812,000 after buying an additional 615,844 shares during the last quarter. Hedge funds and other institutional investors own 10.95% of the company’s stock.
Shares of NVS opened at $89.22 on Friday. Novartis AG has a one year low of $72.30 and a one year high of $94.19. The company has a quick ratio of 0.96, a current ratio of 1.20 and a debt-to-equity ratio of 0.29. The stock has a market cap of $203.75 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 1.95 and a beta of 0.73.
Novartis (NYSE:NVS) last issued its quarterly earnings results on Thursday, October 18th. The company reported $1.32 EPS for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.01. Novartis had a return on equity of 15.81% and a net margin of 25.98%. The company had revenue of $12.78 billion during the quarter, compared to analysts’ expectations of $12.88 billion. During the same quarter in the previous year, the firm posted $1.29 EPS. The firm’s revenue was up 2.9% compared to the same quarter last year. As a group, equities research analysts expect that Novartis AG will post 5.17 earnings per share for the current year.
Several brokerages recently weighed in on NVS. JPMorgan Chase & Co. restated a “neutral” rating on shares of Novartis in a research note on Tuesday. DZ Bank restated a “buy” rating on shares of Novartis in a research note on Thursday, July 19th. Goldman Sachs Group restated a “neutral” rating on shares of Novartis in a research note on Wednesday, October 10th. Barclays upgraded Novartis from an “underweight” rating to an “equal weight” rating in a research note on Thursday, July 19th. Finally, ValuEngine raised Novartis from a “sell” rating to a “hold” rating in a research report on Wednesday, September 12th. Twelve equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $84.86.
Novartis Company Profile
Novartis AG researches, develops, manufactures, and markets a range of healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines to enhance health outcomes for patients and health-care providers. This segment also commercializes products in the areas of oncology and rare diseases, ophthalmology, immunology and dermatology, neuroscience, respiratory, cardio-metabolic, and established medicines.
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