Invesco Ltd. trimmed its stake in Novartis AG (NYSE:NVS - Free Report) by 19.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 192,549 shares of the company's stock after selling 47,193 shares during the period. Invesco Ltd.'s holdings in Novartis were worth $21,465,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently added to or reduced their stakes in the company. Raiffeisen Bank International AG purchased a new stake in Novartis in the 4th quarter valued at about $25,000. Nexus Investment Management ULC purchased a new stake in Novartis in the 1st quarter valued at about $25,000. Tsfg LLC boosted its position in Novartis by 366.0% in the 1st quarter. Tsfg LLC now owns 233 shares of the company's stock valued at $26,000 after buying an additional 183 shares during the period. Park Square Financial Group LLC purchased a new stake in Novartis in the 4th quarter valued at about $30,000. Finally, Alpine Bank Wealth Management purchased a new stake in Novartis in the 1st quarter valued at about $33,000. 13.12% of the stock is owned by hedge funds and other institutional investors.
Novartis Trading Up 1.8%
NYSE:NVS opened at $127.1780 on Thursday. Novartis AG has a one year low of $96.06 and a one year high of $127.68. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.62 and a current ratio of 0.82. The firm has a market cap of $268.65 billion, a P/E ratio of 18.51, a P/E/G ratio of 1.75 and a beta of 0.62. The firm has a 50-day simple moving average of $119.10 and a 200-day simple moving average of $113.41.
Novartis (NYSE:NVS - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.38 by $0.04. Novartis had a net margin of 25.64% and a return on equity of 41.08%. The business had revenue of $14.05 billion during the quarter, compared to analyst estimates of $13.94 billion. During the same quarter in the previous year, the business posted $1.97 EPS. The company's quarterly revenue was up 12.3% compared to the same quarter last year. Equities analysts anticipate that Novartis AG will post 8.45 EPS for the current fiscal year.
Analysts Set New Price Targets
Separately, Morgan Stanley raised shares of Novartis from an "underweight" rating to an "equal weight" rating and set a $123.00 price objective for the company in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Novartis has a consensus rating of "Hold" and a consensus price target of $123.50.
View Our Latest Analysis on NVS
Novartis Profile
(
Free Report)
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.
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