Raymond James Trust N.A. lifted its position in shares of Novartis AG (NYSE:NVS) by 0.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 38,499 shares of the company’s stock after buying an additional 129 shares during the period. Raymond James Trust N.A.’s holdings in Novartis were worth $3,645,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in shares of Novartis by 330.4% during the 3rd 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. Anderson Fisher LLC purchased a new stake in Novartis in the second quarter valued at approximately $39,000. Garrett Wealth Advisory Group LLC acquired a new position in Novartis during the third quarter worth approximately $47,000. Endurance Wealth Management Inc. increased its position in Novartis by 51.7% during the fourth quarter. Endurance Wealth Management Inc. now owns 493 shares of the company’s stock worth $47,000 after purchasing an additional 168 shares during the last quarter. Finally, Executive Wealth Management LLC increased its position in Novartis by 97.3% during the third quarter. Executive Wealth Management LLC now owns 592 shares of the company’s stock worth $51,000 after purchasing an additional 292 shares during the last quarter. 10.62% of the stock is currently owned by institutional investors and hedge funds.
NYSE NVS opened at $94.38 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.95 and a quick ratio of 0.73. Novartis AG has a 1-year low of $74.70 and a 1-year high of $95.66. The firm has a market capitalization of $215.11 billion, a P/E ratio of 18.54, a P/E/G ratio of 1.94 and a beta of 0.59. The business’s 50-day simple moving average is $93.59 and its 200-day simple moving average is $90.22.
Novartis (NYSE:NVS) last posted its earnings results on Tuesday, October 22nd. The company reported $1.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.10. The firm had revenue of $12.17 billion during the quarter, compared to the consensus estimate of $11.67 billion. Novartis had a net margin of 24.43% and a return on equity of 20.86%. The company’s revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.32 EPS. On average, equities research analysts expect that Novartis AG will post 5.23 EPS for the current fiscal year.
Several analysts have recently issued reports on the stock. ValuEngine raised shares of Novartis from a “sell” rating to a “hold” rating in a research note on Saturday, October 19th. Cowen restated a “buy” rating and set a $100.00 price objective on shares of Novartis in a report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $93.34.
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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