Camden National Bank Raises Stake in Novartis AG (NVS)
Camden National Bank boosted its position in Novartis AG (NYSE:NVS) by 9.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,538 shares of the company’s stock after buying an additional 4,773 shares during the period. Camden National Bank’s holdings in Novartis AG were worth $4,635,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mondrian Investment Partners LTD increased its position in Novartis AG by 32.9% in the first quarter. Mondrian Investment Partners LTD now owns 492,341 shares of the company’s stock worth $36,566,000 after buying an additional 122,000 shares in the last quarter. Narwhal Capital Management increased its position in Novartis AG by 11.7% in the first quarter. Narwhal Capital Management now owns 48,010 shares of the company’s stock worth $3,566,000 after buying an additional 5,025 shares in the last quarter. Physicians Financial Services Inc. increased its position in Novartis AG by 11.4% in the first quarter. Physicians Financial Services Inc. now owns 16,583 shares of the company’s stock worth $1,232,000 after buying an additional 1,700 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Novartis AG by 21.4% in the first quarter. Janney Montgomery Scott LLC now owns 158,029 shares of the company’s stock worth $11,737,000 after buying an additional 27,910 shares in the last quarter. Finally, John G Ullman & Associates Inc. increased its position in Novartis AG by 8.2% in the first quarter. John G Ullman & Associates Inc. now owns 113,525 shares of the company’s stock worth $8,432,000 after buying an additional 8,561 shares in the last quarter. Institutional investors and hedge funds own 10.97% of the company’s stock.
Shares of Novartis AG (NVS) opened at 83.53 on Monday. Novartis AG has a 12-month low of $66.93 and a 12-month high of $86.90. The company’s 50-day moving average price is $83.94 and its 200 day moving average price is $79.45. The firm has a market capitalization of $195.70 billion, a PE ratio of 30.50 and a beta of 0.73.
Novartis AG (NYSE:NVS) last issued its quarterly earnings data on Tuesday, July 18th. The company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.06. Novartis AG had a net margin of 13.52% and a return on equity of 15.51%. The firm had revenue of $12.24 billion during the quarter, compared to the consensus estimate of $12.20 billion. During the same quarter in the previous year, the firm posted $1.23 EPS. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. On average, equities analysts forecast that Novartis AG will post $4.74 earnings per share for the current year.
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A number of research analysts have weighed in on NVS shares. J P Morgan Chase & Co restated a “neutral” rating on shares of Novartis AG in a research note on Thursday, June 8th. BidaskClub upgraded Novartis AG from a “sell” rating to a “hold” rating in a research note on Saturday, August 5th. Cowen and Company restated a “hold” rating on shares of Novartis AG in a research note on Tuesday, July 18th. UBS AG reaffirmed a “neutral” rating on shares of Novartis AG in a research report on Tuesday, May 30th. Finally, Zacks Investment Research cut Novartis AG from a “hold” rating to a “sell” rating in a research report on Monday, July 10th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. Novartis AG presently has an average rating of “Hold” and an average price target of $83.56.
In other Novartis AG news, major shareholder Bioventures Ltd Novartis acquired 266,667 shares of the business’s stock in a transaction dated Wednesday, July 5th. The stock was purchased at an average price of $15.00 per share, with a total value of $4,000,005.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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.
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