Janney Montgomery Scott LLC boosted its stake in shares of Novartis AG (NYSE:NVS) by 5.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 164,549 shares of the company’s stock after purchasing an additional 8,720 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Novartis were worth $14,127,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Cetera Investment Advisers acquired a new position in Novartis during the 2nd quarter valued at $241,000. Bartlett & Co. LLC raised its stake in Novartis by 1.6% during the 3rd quarter. Bartlett & Co. LLC now owns 473,081 shares of the company’s stock valued at $40,614,000 after purchasing an additional 7,249 shares during the last quarter. GFS Advisors LLC raised its stake in Novartis by 6.5% during the 2nd quarter. GFS Advisors LLC now owns 21,314 shares of the company’s stock valued at $1,779,000 after purchasing an additional 1,300 shares during the last quarter. Schafer Cullen Capital Management Inc. raised its stake in Novartis by 9.2% during the 2nd quarter. Schafer Cullen Capital Management Inc. now owns 2,780,606 shares of the company’s stock valued at $232,097,000 after purchasing an additional 233,292 shares during the last quarter. Finally, Camden National Bank raised its stake in Novartis by 3.4% during the 3rd quarter. Camden National Bank now owns 57,411 shares of the company’s stock valued at $4,928,000 after purchasing an additional 1,873 shares during the last quarter. Hedge funds and other institutional investors own 10.87% of the company’s stock.
Shares of Novartis AG (NYSE NVS) traded down $0.16 during trading on Tuesday, reaching $83.80. 1,126,400 shares of the company’s stock traded hands, compared to its average volume of 2,259,253. The company has a market cap of $198,615.36, a price-to-earnings ratio of 17.68, a PEG ratio of 2.67 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.08 and a quick ratio of 0.81. Novartis AG has a 12-month low of $69.01 and a 12-month high of $86.90.
Novartis (NYSE:NVS) last posted its earnings results on Tuesday, October 24th. The company reported $1.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.04. Novartis had a net margin of 13.73% and a return on equity of 15.77%. The business had revenue of $12.41 billion for the quarter, compared to analyst estimates of $12.21 billion. During the same quarter in the prior year, the firm earned $1.23 EPS. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. sell-side analysts forecast that Novartis AG will post 4.75 EPS for the current year.
Several research firms recently commented on NVS. Bank of America cut shares of Novartis from a “neutral” rating to an “underperform” rating in a research note on Wednesday, December 6th. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Novartis in a research note on Tuesday, October 31st. Zacks Investment Research upgraded shares of Novartis from a “sell” rating to a “hold” rating in a research note on Thursday, October 26th. Barclays lowered shares of Novartis from an “equal weight” rating to an “underweight” rating in a report on Wednesday, October 25th. Finally, Leerink Swann boosted their price target on shares of Novartis from $89.00 to $91.00 and gave the company a “market perform” rating in a report on Monday, October 23rd. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $85.32.
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Novartis Company Profile
Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.
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