Novartis AG (NVS) Position Increased by Bronfman E.L. Rothschild L.P.
Bronfman E.L. Rothschild L.P. boosted its holdings in shares of Novartis AG (NYSE:NVS) by 13.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,904 shares of the company’s stock after purchasing an additional 1,628 shares during the quarter. Bronfman E.L. Rothschild L.P.’s holdings in Novartis AG were worth $1,194,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Farr Miller & Washington LLC DC raised its stake in Novartis AG by 0.3% during the 2nd quarter. Farr Miller & Washington LLC DC now owns 2,959 shares of the company’s stock valued at $247,000 after purchasing an additional 10 shares during the period. FCG Advisors LLC raised its stake in Novartis AG by 0.3% during the 2nd quarter. FCG Advisors LLC now owns 4,271 shares of the company’s stock valued at $357,000 after purchasing an additional 12 shares during the period. Washington Trust Bank raised its stake in Novartis AG by 0.3% during the 2nd quarter. Washington Trust Bank now owns 4,384 shares of the company’s stock valued at $366,000 after purchasing an additional 14 shares during the period. Ledyard National Bank raised its stake in Novartis AG by 0.9% during the 2nd quarter. Ledyard National Bank now owns 3,428 shares of the company’s stock valued at $286,000 after purchasing an additional 30 shares during the period. Finally, Parkside Financial Bank & Trust raised its stake in Novartis AG by 0.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 4,492 shares of the company’s stock valued at $375,000 after purchasing an additional 31 shares during the period. 10.74% of the stock is currently owned by institutional investors.
Shares of Novartis AG (NVS) traded up $0.06 during trading on Wednesday, hitting $84.34. The stock had a trading volume of 1,137,414 shares, compared to its average volume of 2,329,022. The stock has a market cap of $196,864.81, a PE ratio of 17.52, a price-to-earnings-growth ratio of 2.65 and a beta of 0.72. The company has a current ratio of 1.08, a quick ratio of 0.81 and a debt-to-equity ratio of 0.32. Novartis AG has a 12-month low of $66.93 and a 12-month high of $86.90.
Novartis AG (NYSE:NVS) last posted 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 return on equity of 15.77% and a net margin of 13.73%. 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 previous year, the business earned $1.23 EPS. Novartis AG’s revenue was up 2.4% compared to the same quarter last year. equities analysts expect that Novartis AG will post 4.75 EPS for the current year.
Several brokerages recently issued reports on NVS. J P Morgan Chase & Co reissued a “neutral” rating on shares of Novartis AG in a research note on Tuesday, October 31st. Zacks Investment Research raised Novartis AG from a “sell” rating to a “hold” rating in a research note on Thursday, October 26th. Barclays PLC downgraded Novartis AG from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, October 25th. Finally, Leerink Swann lifted their target price on Novartis AG from $89.00 to $91.00 and gave the company a “market perform” rating in a research note on Monday, October 23rd. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $85.32.
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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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