Columbus Circle Investors Has $2.91 Million Position in Novartis AG (NVS)
Columbus Circle Investors increased its position in shares of Novartis AG (NYSE:NVS) by 16.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,876 shares of the company’s stock after buying an additional 4,966 shares during the period. Columbus Circle Investors’ holdings in Novartis AG were worth $2,911,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Marshall Wace LLP bought a new position in Novartis AG during the second quarter worth $1,259,000. Marshall Wace North America L.P. raised its position in Novartis AG by 39.0% in the second quarter. Marshall Wace North America L.P. now owns 964,946 shares of the company’s stock worth $80,091,000 after buying an additional 270,799 shares during the period. Blair William & Co. IL raised its position in Novartis AG by 18.5% in the second quarter. Blair William & Co. IL now owns 177,392 shares of the company’s stock worth $14,807,000 after buying an additional 27,743 shares during the period. Beacon Investment Advisory Services Inc. raised its position in Novartis AG by 10.8% in the second quarter. Beacon Investment Advisory Services Inc. now owns 4,405 shares of the company’s stock worth $368,000 after buying an additional 430 shares during the period. Finally, Hartland & Co. LLC raised its position in Novartis AG by 2.9% in the second quarter. Hartland & Co. LLC now owns 21,425 shares of the company’s stock worth $1,788,000 after buying an additional 598 shares during the period. 10.97% of the stock is owned by institutional investors.
Shares of Novartis AG (NYSE:NVS) opened at 82.74 on Thursday. Novartis AG has a 12-month low of $66.93 and a 12-month high of $86.90. The company has a market cap of $193.85 billion, a price-to-earnings ratio of 30.21 and a beta of 0.73. The firm has a 50 day moving average price of $83.94 and a 200-day moving average price of $79.45.
Novartis AG (NYSE:NVS) last posted its quarterly earnings data on Tuesday, July 18th. The company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.06. The company had revenue of $12.24 billion for 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 quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.23 earnings per share. On average, equities analysts expect that Novartis AG will post $4.74 earnings per share for the current fiscal year.
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A number of research firms recently weighed in on NVS. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Novartis AG in a research report on Tuesday. BidaskClub raised Novartis AG from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. Cowen and Company set a $90.00 price objective on Novartis AG and gave the company a “hold” rating in a research report on Wednesday, August 9th. Morgan Stanley raised Novartis AG from an “underweight” rating to an “overweight” rating in a research report on Wednesday, July 26th. Finally, Zacks Investment Research lowered Novartis AG from a “hold” rating to a “sell” rating in a report on Monday, July 10th. Three investment 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 has an average rating of “Hold” and an average target price of $83.56.
In other Novartis AG news, major shareholder Bioventures Ltd Novartis acquired 266,667 shares of the company’s stock in a transaction on Wednesday, July 5th. The shares were bought at an average cost of $15.00 per share, for a total transaction of $4,000,005.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.01% of the company’s stock.
Novartis AG 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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