Carret Asset Management LLC Buys 236 Shares of Novartis AG $NVS

Carret Asset Management LLC raised its holdings in shares of Novartis AG (NYSE:NVS) by 0.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,081 shares of the company’s stock after purchasing an additional 236 shares during the period. Carret Asset Management LLC’s holdings in Novartis were worth $4,850,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NVS. WPG Advisers LLC bought a new position in Novartis during the 1st quarter valued at approximately $25,000. GFG Capital LLC bought a new position in Novartis during the 2nd quarter valued at approximately $26,000. Barrett & Company Inc. bought a new position in Novartis during the 2nd quarter valued at approximately $31,000. MCF Advisors LLC raised its position in Novartis by 66.0% during the 2nd quarter. MCF Advisors LLC now owns 264 shares of the company’s stock valued at $32,000 after purchasing an additional 105 shares during the last quarter. Finally, Investment Management Corp VA ADV raised its position in Novartis by 172.2% during the 1st quarter. Investment Management Corp VA ADV now owns 313 shares of the company’s stock valued at $35,000 after purchasing an additional 198 shares during the last quarter. Institutional investors own 13.12% of the company’s stock.

Novartis Stock Down 1.4%

NVS stock opened at $121.73 on Thursday. Novartis AG has a twelve month low of $96.06 and a twelve month high of $133.55. The company has a quick ratio of 0.62, a current ratio of 0.82 and a debt-to-equity ratio of 0.53. The firm has a market cap of $257.15 billion, a PE ratio of 16.63, a price-to-earnings-growth ratio of 1.73 and a beta of 0.64. The business has a 50 day moving average of $127.52 and a 200 day moving average of $120.01.

Novartis (NYSE:NVS) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $2.25 earnings per share for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.01). Novartis had a net margin of 26.49% and a return on equity of 42.01%. The company had revenue of $13.91 billion for the quarter, compared to the consensus estimate of $13.70 billion. During the same period last year, the business earned $2.06 EPS. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. On average, research analysts forecast that Novartis AG will post 8.45 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on NVS. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Novartis in a research report on Thursday, August 21st. Wall Street Zen raised Novartis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Cfra set a $126.00 price target on Novartis and gave the company a “hold” rating in a research report on Wednesday. The Goldman Sachs Group reiterated a “sell” rating and set a $118.00 target price (down previously from $119.00) on shares of Novartis in a report on Friday, September 12th. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of Novartis in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $122.33.

Novartis Company Profile

Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.