Federated Hermes Inc. Acquires 12,821 Shares of Novartis AG (NYSE:NVS)

Key Points

• Federated Hermes Inc. increased its holdings in Novartis AG by 14.5% in the first quarter, totaling 101,076 shares valued at approximately $11.27 million.
• Novartis reported a quarterly EPS of $2.42, exceeding analyst expectations of $2.38 and generating revenues of $14.05 billion, a 12.3% increase year-over-year.
• Analysts have mixed ratings for Novartis, with an average price target of $123.67; BNP Paribas has recently upgraded the stock to a "strong-buy" rating.

Federated Hermes Inc. grew its stake in shares of Novartis AG (NYSE:NVS - Free Report) by 14.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 101,076 shares of the company's stock after acquiring an additional 12,821 shares during the period. Federated Hermes Inc.'s holdings in Novartis were worth $11,268,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Nexus Investment Management ULC purchased a new position in Novartis in the first quarter valued at about $25,000. Tsfg LLC lifted its holdings in shares of Novartis by 366.0% during 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 last quarter. Raiffeisen Bank International AG bought a new stake in shares of Novartis in the 4th quarter valued at approximately $25,000. Alpine Bank Wealth Management bought a new stake in shares of Novartis in the 1st quarter valued at approximately $33,000. Finally, Park Square Financial Group LLC acquired a new position in Novartis in the fourth quarter worth approximately $30,000. 13.12% of the stock is owned by institutional investors and hedge funds.

Novartis Stock Up 1.3%

Shares of NVS traded up $1.51 during trading hours on Friday, hitting $115.25. 1,927,789 shares of the company were exchanged, compared to its average volume of 2,055,040. 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 company has a market cap of $243.46 billion, a PE ratio of 16.78, a PEG ratio of 1.62 and a beta of 0.62. The firm's 50 day moving average is $117.94 and its 200-day moving average is $111.73. Novartis AG has a 52 week low of $96.06 and a 52 week high of $124.83.

Novartis (NYSE:NVS - Get Free Report) last posted its earnings results on Thursday, July 17th. The company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.04. Novartis had a return on equity of 41.08% and a net margin of 25.64%. The firm had revenue of $14.05 billion during the quarter, compared to analyst estimates of $13.94 billion. During the same period in the previous year, the company earned $1.97 EPS. The company's revenue for the quarter was up 12.3% on a year-over-year basis. On average, equities research analysts forecast that Novartis AG will post 8.45 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, BNP Paribas upgraded shares of Novartis to a "strong-buy" rating in a research note on Tuesday, April 15th. Three analysts have rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $123.67.

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.