Creative Planning boosted its holdings in Novartis AG (NYSE:NVS) by 0.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 73,993 shares of the company’s stock after acquiring an additional 328 shares during the period. Creative Planning’s holdings in Novartis were worth $6,430,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Asset Dedication LLC increased its position in shares of Novartis by 98.7% during the second quarter. Asset Dedication LLC now owns 304 shares of the company’s stock worth $27,000 after acquiring an additional 151 shares during the period. Moneta Group Investment Advisors LLC increased its position in shares of Novartis by 795.8% during the second 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 period. Farmers & Merchants Trust Co of Chambersburg PA increased its position in shares of Novartis by 330.4% during the third quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 340 shares of the company’s stock worth $30,000 after acquiring an additional 261 shares during the period. Vigilant Capital Management LLC purchased a new stake in shares of Novartis during the second quarter worth $37,000. Finally, Anderson Fisher LLC purchased a new stake in shares of Novartis during the second quarter worth $39,000. Hedge funds and other institutional investors own 11.19% of the company’s stock.
NYSE NVS traded up $1.02 during trading hours on Friday, hitting $88.01. The company had a trading volume of 627,105 shares, compared to its average volume of 1,752,134. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.73 and a current ratio of 0.95. Novartis AG has a 1-year low of $72.19 and a 1-year high of $95.00. The company has a market cap of $199.13 billion, a PE ratio of 17.29, a price-to-earnings-growth ratio of 1.94 and a beta of 0.59. The business has a 50 day moving average of $86.77 and a 200-day moving average of $87.69.
Novartis (NYSE:NVS) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.10. Novartis had a net margin of 24.43% and a return on equity of 20.86%. The company had revenue of $12.17 billion during the quarter, compared to the consensus estimate of $11.67 billion. During the same quarter in the prior year, the firm posted $1.32 earnings per share. Novartis’s revenue for the quarter was up 10.5% on a year-over-year basis. Sell-side analysts expect that Novartis AG will post 5.16 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on NVS shares. Jefferies Financial Group reaffirmed a “buy” rating on shares of Novartis in a research report on Thursday, August 29th. Cowen reissued a “buy” rating and issued a $100.00 target price on shares of Novartis in a report on Friday, October 25th. Kepler Capital Markets lowered Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Argus increased their target price on Novartis to $105.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. They noted that the move was a valuation call. Finally, ValuEngine raised Novartis from a “sell” rating to a “hold” rating in a report on Saturday, October 19th. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $95.28.
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.
Read More: What are CEFs?
Want to see what other hedge funds are holding NVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Novartis AG (NYSE:NVS).
Receive News & Ratings for Novartis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novartis and related companies with MarketBeat.com's FREE daily email newsletter.