Farmers National Bank bought a new stake in Novartis AG (NYSE:NVS) during the 1st quarter, HoldingsChannel.com reports. The firm bought 8,580 shares of the company’s stock, valued at approximately $825,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Truvestments Capital LLC purchased a new position in Novartis during the first quarter worth approximately $25,000. Canton Hathaway LLC purchased a new position in Novartis during the first quarter worth approximately $26,000. Harvest Group Wealth Management LLC purchased a new position in Novartis during the first quarter worth approximately $27,000. AlphaMark Advisors LLC purchased a new position in Novartis during the fourth quarter worth approximately $30,000. Finally, Financial Gravity Wealth Inc. purchased a new position in Novartis during the first quarter worth approximately $33,000. Institutional investors and hedge funds own 11.66% of the company’s stock.
NVS has been the topic of a number of analyst reports. JPMorgan Chase & Co. reiterated a “sell” rating on shares of Novartis in a research report on Wednesday, January 16th. Morgan Stanley cut Novartis from an “equal weight” rating to an “underweight” rating and raised their target price for the stock from $82.50 to $82.52 in a research note on Wednesday, April 10th. Guggenheim raised Novartis from a “neutral” rating to a “buy” rating and set a $79.16 target price for the company in a research note on Wednesday, April 24th. Zacks Investment Research cut Novartis from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 11th. Finally, Liberum Capital raised Novartis from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. Five equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $87.57.
Shares of NYSE NVS opened at $80.73 on Thursday. Novartis AG has a twelve month low of $63.60 and a twelve month high of $85.08. The company has a quick ratio of 0.83, a current ratio of 0.93 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $188.38 billion, a PE ratio of 15.86, a PEG ratio of 1.94 and a beta of 0.66.
Novartis (NYSE:NVS) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $1.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.10. Novartis had a return on equity of 16.75% and a net margin of 24.55%. The business had revenue of $11.11 billion during the quarter, compared to analysts’ expectations of $11.76 billion. During the same period in the previous year, the firm posted $1.28 earnings per share. The company’s revenue was up 1.7% on a year-over-year basis. As a group, research analysts anticipate that Novartis AG will post 4.98 EPS for the current year.
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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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