Timber Creek Capital Management LLC Grows Holdings in Novartis AG (NVS)
Timber Creek Capital Management LLC raised its position in Novartis AG (NYSE:NVS) by 7.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 37,793 shares of the company’s stock after acquiring an additional 2,755 shares during the quarter. Novartis comprises approximately 1.9% of Timber Creek Capital Management LLC’s holdings, making the stock its 22nd largest position. Timber Creek Capital Management LLC’s holdings in Novartis were worth $2,854,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Winthrop Partners WNY LLC purchased a new position in shares of Novartis in the 1st quarter valued at about $100,000. Gables Capital Management Inc. purchased a new position in shares of Novartis in the 1st quarter valued at about $103,000. Archford Capital Strategies LLC purchased a new position in shares of Novartis in the 1st quarter valued at about $149,000. Private Capital Group LLC boosted its stake in shares of Novartis by 410.8% in the 1st quarter. Private Capital Group LLC now owns 2,467 shares of the company’s stock valued at $204,000 after buying an additional 1,984 shares during the period. Finally, Dynamic Advisor Solutions LLC purchased a new position in shares of Novartis in the 1st quarter valued at about $222,000. 10.85% of the stock is owned by institutional investors.
NVS has been the subject of several recent research reports. Zacks Investment Research cut Novartis from a “hold” rating to a “sell” rating in a research note on Thursday, June 7th. HSBC cut Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, May 29th. ValuEngine cut Novartis from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Deutsche Bank reiterated a “neutral” rating on shares of Novartis in a research note on Friday, April 20th. Finally, Credit Suisse Group upgraded Novartis from an “underperform” rating to a “neutral” rating in a research note on Friday, May 25th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $93.50.
Shares of Novartis traded up $0.30, hitting $82.40, during midday trading on Monday, according to MarketBeat Ratings. The company had a trading volume of 26,837 shares, compared to its average volume of 1,981,880. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.89 and a current ratio of 1.15. The stock has a market capitalization of $190.26 billion, a PE ratio of 17.10, a PEG ratio of 1.82 and a beta of 0.82. Novartis AG has a 1 year low of $72.30 and a 1 year high of $94.19.
Novartis (NYSE:NVS) last posted its earnings results on Wednesday, July 18th. The company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.02. The firm had revenue of $13.16 billion during the quarter, compared to analysts’ expectations of $12.93 billion. Novartis had a return on equity of 16.05% and a net margin of 27.06%. The firm’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.22 earnings per share. analysts predict that Novartis AG will post 5.06 EPS for the current year.
Novartis Company Profile
Novartis AG researches, develops, manufactures, and markets a range of healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines to enhance health outcomes for patients and health-care providers. This segment also commercializes products in the areas of oncology and rare diseases, ophthalmology, immunology and dermatology, neuroscience, respiratory, cardio-metabolic, and established medicines.
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