Ferguson Wellman Capital Management Inc. Invests $27.86 Million in Novartis AG $NVS

Key Points

• Ferguson Wellman Capital Management opened a new position in Novartis during the first quarter, buying 182,356 shares valued at about $27.86 million.
• Institutional interest in Novartis remains present, with multiple smaller investors also taking positions; however, hedge funds and institutions own only 13.12% of the stock.
• Novartis recently missed quarterly earnings expectations, reporting $1.99 EPS versus the $2.11 estimate, while revenue came in slightly above forecasts at $13.52 billion.

Ferguson Wellman Capital Management Inc. bought a new stake in Novartis AG (NYSE:NVS - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 182,356 shares of the company's stock, valued at approximately $27,855,000.

Other institutional investors have also added to or reduced their stakes in the company. Arlington Trust Co LLC bought a new position in Novartis during the fourth quarter worth about $25,000. CrossGen Wealth LLC acquired a new position in shares of Novartis in the 4th quarter worth approximately $28,000. Bank of Jackson Hole Trust lifted its position in shares of Novartis by 425.0% during the 4th quarter. Bank of Jackson Hole Trust now owns 231 shares of the company's stock worth $32,000 after buying an additional 187 shares during the period. Nalls Sherbakoff Group LLC acquired a new stake in Novartis in the 4th quarter valued at $34,000. Finally, Measured Wealth Private Client Group LLC bought a new position in shares of Novartis during the third quarter valued at $33,000. 13.12% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NVS has been the topic of several analyst reports. Sanford C. Bernstein raised shares of Novartis to a "hold" rating in a report on Thursday, March 19th. Weiss Ratings lowered shares of Novartis from a "buy (a-)" rating to a "buy (b)" rating in a research report on Wednesday, April 29th. Finally, Morgan Stanley lifted their target price on shares of Novartis from $143.00 to $170.00 and gave the company an "overweight" rating in a research note on Thursday, March 26th. 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. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $141.20.

Novartis Price Performance

NYSE NVS traded down $0.56 on Friday, hitting $154.06. 1,165,455 shares of the company were exchanged, compared to its average volume of 2,045,955. Novartis AG has a 1-year low of $112.34 and a 1-year high of $170.46. The firm has a 50 day moving average of $150.86 and a two-hundred day moving average of $151.12. The company has a current ratio of 0.85, a quick ratio of 0.65 and a debt-to-equity ratio of 0.96. The company has a market cap of $293.97 billion, a P/E ratio of 22.07, a P/E/G ratio of 2.65 and a beta of 0.45.

Novartis (NYSE:NVS - Get Free Report) last announced its earnings results on Monday, April 27th. The company reported $1.99 earnings per share for the quarter, missing analysts' consensus estimates of $2.11 by ($0.12). Novartis had a return on equity of 38.82% and a net margin of 24.87%.The company had revenue of $13.52 billion during the quarter, compared to the consensus estimate of $13.44 billion. During the same period in the prior year, the firm posted $2.28 earnings per share. The company's revenue was down .9% on a year-over-year basis. On average, equities analysts predict that Novartis AG will post 8.77 EPS for the current year.

About Novartis

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.

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