Novartis AG (NVS) Shares Bought by ST Germain D J Co. Inc.
ST Germain D J Co. Inc. increased its stake in Novartis AG (NYSE:NVS) by 7.5% during the second quarter, Holdings Channel reports. The institutional investor owned 7,085 shares of the company’s stock after buying an additional 492 shares during the period. ST Germain D J Co. Inc.’s holdings in Novartis AG were worth $591,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Douglas Lane & Associates LLC increased its position in shares of Novartis AG by 3.5% in the first quarter. Douglas Lane & Associates LLC now owns 448,083 shares of the company’s stock valued at $33,279,000 after buying an additional 15,165 shares during the last quarter. Ledyard National Bank increased its position in shares of Novartis AG by 67.6% in the first quarter. Ledyard National Bank now owns 3,398 shares of the company’s stock valued at $252,000 after buying an additional 1,370 shares during the last quarter. Courier Capital LLC increased its position in shares of Novartis AG by 2.2% in the first quarter. Courier Capital LLC now owns 4,795 shares of the company’s stock valued at $356,000 after buying an additional 101 shares during the last quarter. Quantitative Systematic Strategies LLC acquired a new position in shares of Novartis AG during the first quarter valued at about $269,000. Finally, Coastline Trust Co increased its position in shares of Novartis AG by 4.0% in the first quarter. Coastline Trust Co now owns 19,410 shares of the company’s stock valued at $1,441,000 after buying an additional 755 shares during the last quarter. Hedge funds and other institutional investors own 11.16% of the company’s stock.
Shares of Novartis AG (NVS) opened at 83.18 on Friday. Novartis AG has a 52 week low of $66.93 and a 52 week high of $86.90. The company has a 50 day moving average of $83.96 and a 200 day moving average of $79.03. The firm has a market cap of $194.88 billion, a PE ratio of 30.37 and a beta of 0.73.
Novartis AG (NYSE:NVS) last announced its earnings results on Tuesday, July 18th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.06. The firm had revenue of $12.24 billion during the quarter, compared to analyst estimates of $12.20 billion. Novartis AG had a net margin of 13.52% and a return on equity of 15.51%. Novartis AG’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.23 EPS. On average, equities research analysts anticipate that Novartis AG will post $4.73 EPS for the current fiscal year.
Several research analysts have issued reports on the stock. BidaskClub downgraded shares of Novartis AG from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Cowen and Company set a $90.00 price objective on shares of Novartis AG and gave the stock a “hold” rating in a research report on Wednesday, August 9th. Morgan Stanley raised shares of Novartis AG from an “underweight” rating to an “overweight” rating in a research report on Wednesday, July 26th. J P Morgan Chase & Co reissued a “neutral” rating on shares of Novartis AG in a research report on Monday, July 17th. Finally, Zacks Investment Research downgraded shares of Novartis AG from a “hold” rating to a “sell” rating in a research report on Monday, July 10th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. Novartis AG presently has a consensus rating of “Hold” and a consensus price target of $83.56.
In related news, major shareholder Bioventures Ltd Novartis bought 266,667 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The stock was purchased at an average price of $15.00 per share, for a total transaction of $4,000,005.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.01% of the company’s stock.
About Novartis AG
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.
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 & Stock Ratings for Novartis AG Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novartis AG and related stocks with our FREE daily email newsletter.