Novartis AG (NVS) Shares Bought by Tower Bridge Advisors
Tower Bridge Advisors lifted its stake in shares of Novartis AG (NYSE:NVS) by 8.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 98,874 shares of the company’s stock after acquiring an additional 7,397 shares during the quarter. Tower Bridge Advisors’ holdings in Novartis AG were worth $8,488,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Parnassus Investments CA boosted its stake in Novartis AG by 18.5% in the 3rd quarter. Parnassus Investments CA now owns 9,447,817 shares of the company’s stock worth $811,095,000 after purchasing an additional 1,477,168 shares during the period. Bank of America Corp DE boosted its stake in Novartis AG by 7.5% in the 1st quarter. Bank of America Corp DE now owns 7,328,730 shares of the company’s stock worth $544,304,000 after purchasing an additional 508,435 shares during the period. Fisher Asset Management LLC boosted its stake in Novartis AG by 2.0% in the 3rd quarter. Fisher Asset Management LLC now owns 6,632,984 shares of the company’s stock worth $569,442,000 after purchasing an additional 127,049 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Novartis AG by 3.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,036,427 shares of the company’s stock worth $420,390,000 after purchasing an additional 151,115 shares during the period. Finally, BlackRock Inc. boosted its stake in Novartis AG by 25.3% in the 2nd quarter. BlackRock Inc. now owns 3,549,783 shares of the company’s stock worth $296,299,000 after purchasing an additional 717,186 shares during the period. Institutional investors and hedge funds own 11.00% of the company’s stock.
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Shares of Novartis AG (NYSE NVS) traded down $0.10 during trading hours on Monday, hitting $82.38. 1,182,500 shares of the company’s stock were exchanged, compared to its average volume of 2,350,100. The firm has a market cap of $194,877.70, a price-to-earnings ratio of 17.34, a P/E/G ratio of 2.63 and a beta of 0.72. Novartis AG has a 52 week low of $66.93 and a 52 week high of $86.90. The company has a quick ratio of 0.81, a current ratio of 1.08 and a debt-to-equity ratio of 0.32.
Novartis AG (NYSE:NVS) last issued its earnings results on Tuesday, October 24th. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.04. The company had revenue of $12.41 billion during the quarter, compared to analyst estimates of $12.21 billion. Novartis AG had a net margin of 13.73% and a return on equity of 15.77%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the business posted $1.23 EPS. sell-side analysts expect that Novartis AG will post 4.75 earnings per share for the current year.
A number of equities analysts recently commented on NVS shares. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Novartis AG in a research note on Monday, July 17th. Cowen and Company reaffirmed a “hold” rating on shares of Novartis AG in a research note on Tuesday, July 18th. Morgan Stanley raised shares of Novartis AG from an “underweight” rating to an “overweight” rating in a research note on Wednesday, July 26th. BidaskClub lowered shares of Novartis AG from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, Zacks Investment Research raised shares of Novartis AG from a “hold” rating to a “buy” rating and set a $96.00 price objective for the company in a research note on Tuesday, September 19th. Three equities 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 stock. Novartis AG has a consensus rating of “Hold” and a consensus target price of $85.32.
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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