Osterweis Capital Management Inc. Raises Position in Novartis AG $NVS

Key Points

• Osterweis Capital Management Inc. has increased its holdings in Novartis AG by 2.8%, now owning 87,194 shares valued at approximately $9.72 million.
• Novartis reported earnings of $2.42 per share for the last quarter, exceeding estimates and displaying a 12.3% increase in revenue compared to the previous year.
• Analyst ratings for Novartis show a mix of opinions, with one Strong Buy, one Buy, four Holds, and two Sells, reflecting varied confidence in the stock's future performance.

Osterweis Capital Management Inc. grew its position in Novartis AG (NYSE:NVS - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 87,194 shares of the company's stock after acquiring an additional 2,412 shares during the period. Osterweis Capital Management Inc.'s holdings in Novartis were worth $9,720,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in NVS. Brighton Jones LLC boosted its holdings in Novartis by 76.5% during the fourth quarter. Brighton Jones LLC now owns 6,153 shares of the company's stock worth $599,000 after buying an additional 2,666 shares in the last quarter. Focus Partners Wealth boosted its holdings in Novartis by 37.3% during the fourth quarter. Focus Partners Wealth now owns 40,699 shares of the company's stock worth $4,091,000 after buying an additional 11,062 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in Novartis during the fourth quarter worth about $993,000. NorthRock Partners LLC boosted its holdings in Novartis by 11.5% during the fourth quarter. NorthRock Partners LLC now owns 2,121 shares of the company's stock worth $206,000 after buying an additional 219 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its holdings in Novartis by 13.7% during the fourth quarter. Quantinno Capital Management LP now owns 140,356 shares of the company's stock worth $13,658,000 after buying an additional 16,966 shares in the last quarter. Hedge funds and other institutional investors own 13.12% of the company's stock.

Novartis Stock Up 0.8%

Shares of NYSE NVS opened at $127.62 on Friday. Novartis AG has a 12-month low of $96.06 and a 12-month high of $130.46. The company has a market capitalization of $269.59 billion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 1.77 and a beta of 0.63. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.82 and a quick ratio of 0.62. The firm's 50-day moving average is $121.67 and its two-hundred day moving average is $115.63.

Novartis (NYSE:NVS - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The company reported $2.42 earnings per share (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 company had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $13.94 billion. During the same quarter in the prior year, the firm earned $1.97 earnings per share. The company's revenue for the quarter 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.

Analyst Ratings Changes

A number of analysts recently commented on NVS shares. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Novartis in a report on Thursday, August 21st. Morgan Stanley raised shares of Novartis from an "underweight" rating to an "equal weight" rating and set a $123.00 price objective on the stock in a report on Friday, August 8th. Finally, Wall Street Zen downgraded shares of Novartis from a "strong-buy" rating to a "buy" rating in a report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $121.50.

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.

Want to see what other hedge funds are holding NVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Novartis AG (NYSE:NVS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.