MML Investors Services LLC lifted its position in Novartis AG (NYSE:NVS) by 11.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 44,042 shares of the company’s stock after purchasing an additional 4,473 shares during the quarter. MML Investors Services LLC’s holdings in Novartis were worth $4,021,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in NVS. Winslow Evans & Crocker Inc. increased its stake in Novartis by 11.8% in the second quarter. Winslow Evans & Crocker Inc. now owns 1,084 shares of the company’s stock valued at $102,000 after acquiring an additional 114 shares during the last quarter. PagnatoKarp Partners LLC increased its stake in Novartis by 0.6% in the second quarter. PagnatoKarp Partners LLC now owns 18,887 shares of the company’s stock valued at $1,725,000 after acquiring an additional 115 shares during the last quarter. Old Port Advisors increased its stake in Novartis by 4.5% in the second quarter. Old Port Advisors now owns 2,722 shares of the company’s stock valued at $252,000 after acquiring an additional 116 shares during the last quarter. IHT Wealth Management LLC increased its stake in Novartis by 3.6% in the second quarter. IHT Wealth Management LLC now owns 3,514 shares of the company’s stock valued at $321,000 after acquiring an additional 123 shares during the last quarter. Finally, Stratos Wealth Partners LTD. increased its stake in Novartis by 1.2% in the first quarter. Stratos Wealth Partners LTD. now owns 10,631 shares of the company’s stock valued at $1,022,000 after acquiring an additional 125 shares during the last quarter. 11.21% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently commented on NVS shares. Argus increased their target price on Novartis to $105.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. They noted that the move was a valuation call. ValuEngine cut Novartis from a “hold” rating to a “sell” rating in a research note on Thursday. JPMorgan Chase & Co. reissued a “sell” rating on shares of Novartis in a research note on Friday, July 5th. Kepler Capital Markets cut Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Novartis in a research note on Thursday, August 29th. Five equities research analysts have rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $93.29.
Shares of NYSE:NVS traded down $2.29 on Friday, reaching $87.20. 133,515 shares of the company traded hands, compared to its average volume of 1,423,010. The business’s 50-day simple moving average is $90.27 and its 200 day simple moving average is $88.64. Novartis AG has a 52 week low of $71.86 and a 52 week high of $95.00. The stock has a market capitalization of $205.32 billion, a P/E ratio of 17.12, a price-to-earnings-growth ratio of 2.00 and a beta of 0.58. The company has a current ratio of 0.94, a quick ratio of 0.74 and a debt-to-equity ratio of 0.43.
Novartis (NYSE:NVS) last announced its quarterly earnings data on Thursday, July 18th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.14. Novartis had a return on equity of 18.55% and a net margin of 23.27%. The firm had revenue of $11.76 billion for the quarter, compared to analysts’ expectations of $11.45 billion. During the same period last year, the firm earned $1.29 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. Sell-side analysts expect that Novartis AG will post 5.15 EPS for the current fiscal year.
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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