Kovitz Investment Group Partners LLC increased its position in shares of Novartis AG (NYSE:NVS - Free Report) by 10.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,162 shares of the company's stock after purchasing an additional 5,175 shares during the period. Kovitz Investment Group Partners LLC's holdings in Novartis were worth $6,038,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Raiffeisen Bank International AG purchased a new position in Novartis during the fourth quarter worth about $25,000. Nexus Investment Management ULC purchased a new position in Novartis during the first quarter worth about $25,000. Tsfg LLC boosted its stake in Novartis by 366.0% during the first quarter. Tsfg LLC now owns 233 shares of the company's stock worth $26,000 after buying an additional 183 shares during the period. Park Square Financial Group LLC purchased a new position in Novartis during the fourth quarter worth about $30,000. Finally, Alpine Bank Wealth Management purchased a new position in Novartis during the first quarter worth about $33,000. Hedge funds and other institutional investors own 13.12% of the company's stock.
Novartis Price Performance
Shares of NYSE NVS opened at $124.20 on Friday. The firm has a market capitalization of $262.36 billion, a P/E ratio of 18.08, a PEG ratio of 1.74 and a beta of 0.62. Novartis AG has a one year low of $96.06 and a one year high of $124.83. The company's fifty day moving average is $118.67 and its two-hundred day moving average is $113.04. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.62 and a current ratio of 0.82.
Novartis (NYSE:NVS - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $2.42 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $13.94 billion. During the same period in the previous year, the firm earned $1.97 EPS. The business's revenue for the quarter was up 12.3% compared to the same quarter last year. Analysts forecast that Novartis AG will post 8.45 EPS for the current fiscal year.
Analyst Ratings Changes
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 note on Friday, August 8th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $123.50.
View Our Latest Stock Report on NVS
About Novartis
(
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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