SG Americas Securities LLC Increases Holdings in Novartis AG (NVS)
SG Americas Securities LLC boosted its stake in Novartis AG (NYSE:NVS) by 131.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 49,666 shares of the company’s stock after acquiring an additional 28,161 shares during the period. SG Americas Securities LLC’s holdings in Novartis AG were worth $4,264,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the business. Parnassus Investments CA raised its position in Novartis AG by 18.5% in the third quarter. Parnassus Investments CA now owns 9,447,817 shares of the company’s stock worth $811,095,000 after acquiring an additional 1,477,168 shares during the period. Fisher Asset Management LLC raised its position in Novartis AG by 2.0% in the third quarter. Fisher Asset Management LLC now owns 6,632,984 shares of the company’s stock worth $569,442,000 after acquiring an additional 127,049 shares during the period. The Manufacturers Life Insurance Company raised its position in Novartis AG by 3.1% in the second quarter. The Manufacturers Life Insurance Company now owns 5,036,427 shares of the company’s stock worth $420,390,000 after acquiring an additional 151,115 shares during the period. BlackRock Inc. raised its position in Novartis AG by 25.3% in the second quarter. BlackRock Inc. now owns 3,549,783 shares of the company’s stock worth $296,299,000 after acquiring an additional 717,186 shares during the period. Finally, State Street Corp raised its position in shares of Novartis AG by 2.3% in the second quarter. State Street Corp now owns 3,046,276 shares of the company’s stock valued at $254,273,000 after purchasing an additional 68,834 shares during the period. 10.74% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have recently issued reports on NVS shares. Barclays PLC lowered shares of Novartis AG from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, October 25th. BidaskClub raised shares of Novartis AG from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. Zacks Investment Research raised shares of Novartis AG from a “hold” rating to a “buy” rating and set a $96.00 price target on the stock in a research report on Tuesday, September 19th. Morgan Stanley raised shares of Novartis AG from an “underweight” rating to an “overweight” rating in a research report on Wednesday, July 26th. Finally, J P Morgan Chase & Co reissued a “neutral” rating on shares of Novartis AG in a research report on Tuesday, October 31st. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $85.32.
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Shares of Novartis AG (NYSE NVS) traded up $0.96 during trading on Monday, hitting $83.98. 1,545,600 shares of the stock were exchanged, compared to its average volume of 2,323,214. Novartis AG has a 12 month low of $66.93 and a 12 month high of $86.90. The stock has a market cap of $198,662.67, a PE ratio of 17.68, a price-to-earnings-growth ratio of 2.68 and a beta of 0.72. 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 announced its quarterly earnings data on Tuesday, October 24th. The company reported $1.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.04. Novartis AG had a net margin of 13.73% and a return on equity of 15.77%. The company had revenue of $12.41 billion during the quarter, compared to analysts’ expectations of $12.21 billion. During the same quarter in the prior year, the company earned $1.23 EPS. The firm’s revenue was up 2.4% on a year-over-year basis. analysts predict that Novartis AG will post 4.75 earnings per share for the current year.
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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