Bayesian Capital Management LP Takes Position in Novartis AG (NVS)
Bayesian Capital Management LP acquired a new stake in Novartis AG (NYSE:NVS) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,027 shares of the company’s stock, valued at approximately $336,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. City Holding Co. grew its holdings in shares of Novartis AG by 4.6% during the second quarter. City Holding Co. now owns 1,217 shares of the company’s stock worth $102,000 after purchasing an additional 54 shares during the last quarter. Archford Capital Strategies LLC lifted its holdings in shares of Novartis AG by 72.3% in the 1st quarter. Archford Capital Strategies LLC now owns 1,480 shares of the company’s stock valued at $110,000 after purchasing an additional 621 shares during the last quarter. Kernodle & Katon Asset Management Group LLC lifted its holdings in shares of Novartis AG by 3.4% in the 1st quarter. Kernodle & Katon Asset Management Group LLC now owns 1,488 shares of the company’s stock valued at $111,000 after purchasing an additional 49 shares during the last quarter. Massey Quick & Co. LLC purchased a new stake in shares of Novartis AG in the 1st quarter valued at about $119,000. Finally, North Star Investment Management Corp. lifted its holdings in shares of Novartis AG by 1.0% in the 2nd quarter. North Star Investment Management Corp. now owns 1,542 shares of the company’s stock valued at $129,000 after purchasing an additional 16 shares during the last quarter. Institutional investors own 10.93% of the company’s stock.
In other Novartis AG news, major shareholder Bioventures Ltd Novartis bought 266,667 shares of the business’s stock in a transaction on Wednesday, July 5th. The shares were purchased at an average price of $15.00 per share, with a total value of $4,000,005.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.01% of the company’s stock.
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Novartis AG (NVS) opened at 85.85 on Monday. The firm has a market capitalization of $201.14 billion, a PE ratio of 31.34 and a beta of 0.73. Novartis AG has a 52 week low of $66.93 and a 52 week high of $86.90. The firm has a 50-day moving average of $84.30 and a 200 day moving average of $80.50.
Novartis AG (NYSE:NVS) last announced its quarterly earnings results on Tuesday, July 18th. The company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.06. The business had revenue of $12.24 billion for the quarter, compared to analysts’ expectations of $12.20 billion. Novartis AG had a return on equity of 15.51% and a net margin of 13.52%. The business’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.23 EPS. Analysts predict that Novartis AG will post $4.75 earnings per share for the current year.
A number of research firms recently issued reports on NVS. Zacks Investment Research downgraded Novartis AG from a “hold” rating to a “sell” rating in a research note on Monday, July 10th. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Novartis AG in a research report on Tuesday, August 29th. Credit Suisse Group cut Novartis AG from a “neutral” rating to an “underperform” rating and set a $82.25 price objective for the company. in a research note on Wednesday, July 5th. Morgan Stanley upgraded Novartis AG from an “underweight” rating to an “overweight” rating in a research note on Wednesday, July 26th. Finally, Leerink Swann restated a “market perform” rating and set a $83.00 target price on shares of Novartis AG in a research report on Thursday, June 22nd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $85.12.
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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