Novartis AG $NVS Shares Purchased by Kimelman & Baird LLC

Kimelman & Baird LLC boosted its stake in shares of Novartis AG (NYSE:NVS) by 46.7% in the 3rd quarter, Holdings Channel reports. The fund owned 10,050 shares of the company’s stock after buying an additional 3,200 shares during the period. Kimelman & Baird LLC’s holdings in Novartis were worth $1,433,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Archer Investment Corp boosted its position in Novartis by 93.0% in the 1st quarter. Archer Investment Corp now owns 166 shares of the company’s stock worth $25,000 after purchasing an additional 80 shares in the last quarter. Highland Investment Advisors LLC acquired a new stake in shares of Novartis during the 2nd quarter worth approximately $25,000. Evolution Wealth Management Inc. increased its holdings in shares of Novartis by 552.0% during the 2nd quarter. Evolution Wealth Management Inc. now owns 163 shares of the company’s stock valued at $26,000 after purchasing an additional 138 shares in the last quarter. Atlatl Advisers LLC purchased a new position in shares of Novartis during the 2nd quarter valued at approximately $26,000. Finally, Curry Webb Wealth Management LLC purchased a new position in shares of Novartis during the 3rd quarter valued at approximately $28,000. 13.12% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on NVS shares. Citigroup reiterated a “buy” rating on shares of Novartis in a research note on Wednesday, July 22nd. Morgan Stanley restated an “overweight” rating and set a $163.00 price target on shares of Novartis in a research report on Wednesday, October 28th. Berenberg Bank cut their price objective on shares of Novartis from $147.00 to $130.00 and set a “hold” rating for the company in a report on Friday, September 11th. HSBC raised shares of Novartis from a “reduce” rating to a “hold” rating and lifted their price objective for the company from $123.00 to $136.00 in a report on Thursday, September 10th. Finally, Jefferies Financial Group reiterated a “neutral” rating on shares of Novartis in a research report on Thursday, July 23rd. Six analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Novartis currently has an average rating of “Hold” and a consensus target price of $152.25.

Novartis Stock Performance

Shares of NVS stock opened at $162.73 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.70 and a debt-to-equity ratio of 0.98. Novartis AG has a 12-month low of $123.24 and a 12-month high of $170.46. The business’s 50 day moving average is $148.83 and its two-hundred day moving average is $152.25. The company has a market capitalization of $310.51 billion, a P/E ratio of 31.06, a P/E/G ratio of 2.99 and a beta of 0.40.

Novartis (NYSE:NVS) last posted its quarterly earnings data on Tuesday, October 27th. The company reported $2.46 EPS for the quarter, beating analysts’ consensus estimates of $2.25 by $0.21. The business had revenue of $15.03 billion during the quarter, compared to analysts’ expectations of $14.53 billion. Novartis had a return on equity of 41.04% and a net margin of 18.11%. The business’s revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.25 earnings per share. Analysts expect that Novartis AG will post 9.04 EPS for the current fiscal year.

About Novartis

Novartis AG is a Swiss pharmaceutical company focused on discovering, developing, manufacturing and commercializing innovative medicines. Its research and products address conditions in areas including oncology, immunology, neuroscience, and cardiovascular, renal and metabolic health.

The company’s medicines include treatments such as Kisqali for certain breast cancers, Cosentyx for inflammatory diseases, Entresto for heart failure and Kesimpta for multiple sclerosis. Its portfolio also includes radioligand therapies and other specialized treatments.

Novartis was formed in 1996 through the merger of Swiss companies Ciba-Geigy and Sandoz.