Kahn Brothers Group Inc. Purchases New Position in Novartis AG $NVS

Kahn Brothers Group Inc. acquired a new position in Novartis AG (NYSE:NVS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 13,186 shares of the company’s stock, valued at approximately $2,067,000.

Other large investors have also recently modified their holdings of the company. Dearborn Partners LLC bought a new stake in shares of Novartis in the second quarter valued at approximately $5,021,000. First Bancorp Inc ME bought a new position in Novartis in the 2nd quarter worth approximately $57,000. Pinnacle West Asset Management Inc. bought a new position in Novartis in the 2nd quarter worth approximately $651,000. Somerville Kurt F purchased a new position in Novartis in the 2nd quarter valued at approximately $1,636,000. Finally, Trust Co. of Vermont bought a new stake in Novartis during the 2nd quarter valued at $7,282,000. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on NVS. Citigroup restated a “buy” rating on shares of Novartis in a research report on Wednesday, July 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Novartis in a research note on Friday, July 24th. Seven research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $141.20.

Novartis Price Performance

NVS stock opened at $154.54 on Friday. The firm has a 50 day moving average of $154.94 and a 200-day moving average of $153.78. The firm has a market capitalization of $294.88 billion, a P/E ratio of 23.31, a price-to-earnings-growth ratio of 2.70 and a beta of 0.45. Novartis AG has a 12 month low of $121.57 and a 12 month high of $170.46. The company has a current ratio of 0.86, a quick ratio of 0.67 and a debt-to-equity ratio of 0.89.

Novartis (NYSE:NVS) last posted its earnings results on Tuesday, June 30th. The company reported $2.41 earnings per share (EPS) for the quarter. Novartis had a net margin of 23.29% and a return on equity of 38.56%. The business had revenue of $14.95 billion for the quarter. As a group, sell-side analysts predict that Novartis AG will post 8.85 earnings per share for the current fiscal year.

Novartis Company Profile

Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.

The company’s activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.