Keybank National Association OH Has $9.73 Million Position in Novartis AG $NVS

Keybank National Association OH boosted its holdings in Novartis AG (NYSE:NVS) by 20.1% during the first quarter, HoldingsChannel.com reports. The fund owned 63,679 shares of the company’s stock after purchasing an additional 10,666 shares during the period. Keybank National Association OH’s holdings in Novartis were worth $9,727,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. J.W. Cole Advisors Inc. lifted its stake in Novartis by 0.6% during the fourth quarter. J.W. Cole Advisors Inc. now owns 10,577 shares of the company’s stock worth $1,348,000 after purchasing an additional 64 shares during the period. Roundview Capital LLC grew its stake in shares of Novartis by 2.5% in the 4th quarter. Roundview Capital LLC now owns 2,711 shares of the company’s stock valued at $374,000 after purchasing an additional 66 shares during the period. IMA Advisory Services Inc. grew its stake in shares of Novartis by 10.9% in the 4th quarter. IMA Advisory Services Inc. now owns 710 shares of the company’s stock valued at $98,000 after purchasing an additional 70 shares during the period. Abundance Wealth Counselors raised its holdings in shares of Novartis by 0.4% in the 4th quarter. Abundance Wealth Counselors now owns 16,927 shares of the company’s stock worth $2,334,000 after buying an additional 73 shares in the last quarter. Finally, Atlantic Edge Private Wealth Management LLC lifted its position in shares of Novartis by 3.5% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 2,230 shares of the company’s stock worth $307,000 after buying an additional 75 shares during the period. Institutional investors and hedge funds own 13.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on NVS shares. Sanford C. Bernstein raised Novartis to a “hold” rating in a research note on Thursday, March 19th. Weiss Ratings lowered Novartis from a “buy (a-)” rating to a “buy (b)” rating in a research note on Wednesday, April 29th. Argus raised Novartis from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a report on Wednesday, March 11th. Finally, Morgan Stanley boosted their target price on shares of Novartis from $143.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday, March 26th. Seven equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $141.20.

Novartis Trading Down 0.1%

NVS opened at $159.82 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.65 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $304.96 billion, a PE ratio of 22.90, a PEG ratio of 2.73 and a beta of 0.45. Novartis AG has a 1-year low of $112.34 and a 1-year high of $170.46. The firm has a 50-day moving average price of $149.84 and a two-hundred day moving average price of $150.42.

Novartis (NYSE:NVS) last announced its earnings results on Monday, April 27th. The company reported $1.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.12). Novartis had a return on equity of 38.82% and a net margin of 24.87%.The company had revenue of $13.52 billion for the quarter, compared to analyst estimates of $13.44 billion. During the same quarter in the previous year, the company posted $2.28 earnings per share. Novartis’s revenue for the quarter was down .9% on a year-over-year basis. As a group, equities analysts anticipate that Novartis AG will post 8.86 earnings per share for the current fiscal year.

About Novartis

Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.

The company’s activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.