Five Oceans Advisors lifted its stake in Novartis AG (NYSE:NVS – Get Rating) by 23.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,204 shares of the company’s stock after purchasing an additional 807 shares during the period. Five Oceans Advisors’ holdings in Novartis were worth $355,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Mount Yale Investment Advisors LLC raised its position in shares of Novartis by 30.2% during the first quarter. Mount Yale Investment Advisors LLC now owns 15,538 shares of the company’s stock worth $1,363,000 after acquiring an additional 3,606 shares during the last quarter. Kensington Investment Counsel LLC raised its holdings in Novartis by 5.0% during the 1st quarter. Kensington Investment Counsel LLC now owns 13,820 shares of the company’s stock worth $1,213,000 after purchasing an additional 656 shares during the last quarter. CIBC Asset Management Inc acquired a new position in Novartis during the 1st quarter valued at about $501,000. National Asset Management Inc. boosted its stake in shares of Novartis by 3.5% in the 1st quarter. National Asset Management Inc. now owns 21,166 shares of the company’s stock valued at $1,859,000 after purchasing an additional 717 shares during the last quarter. Finally, Resources Investment Advisors LLC. grew its position in shares of Novartis by 3.2% during the 1st quarter. Resources Investment Advisors LLC. now owns 4,367 shares of the company’s stock worth $383,000 after buying an additional 137 shares during the period. Institutional investors own 9.14% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on NVS. Morgan Stanley reduced their price objective on shares of Novartis from CHF 97 to CHF 88 in a research note on Thursday, September 8th. Berenberg Bank downgraded Novartis from a “buy” rating to a “hold” rating in a report on Wednesday, September 14th. Kepler Capital Markets upgraded Novartis from a “hold” rating to a “buy” rating and set a CHF 90 target price on the stock in a report on Wednesday, September 7th. JPMorgan Chase & Co. upped their price target on Novartis from CHF 80 to CHF 81 and gave the company an “underweight” rating in a research note on Wednesday, July 20th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Novartis from CHF 80 to CHF 75 in a research note on Wednesday, June 29th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $87.00.
Novartis Stock Down 1.3 %
Novartis (NYSE:NVS – Get Rating) last announced its earnings results on Tuesday, July 19th. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.51 by $0.05. Novartis had a net margin of 44.31% and a return on equity of 21.88%. The business had revenue of $12.78 billion during the quarter, compared to analysts’ expectations of $12.78 billion. During the same quarter in the prior year, the company posted $1.64 earnings per share. The firm’s revenue was down 1.4% on a year-over-year basis. On average, equities analysts expect that Novartis AG will post 6.06 earnings per share for the current year.
Novartis Company Profile
Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company operates through two segments, Innovative Medicines and Sandoz. The Innovative Medicines segment offers prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology, dermatology, respiratory, cardiovascular, renal, and metabolism medicine products.
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