Retirement Guys Formula LLC bought a new position in shares of Novartis AG (NYSE:NVS - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 8,407 shares of the company's stock, valued at approximately $937,000.
Several other hedge funds and other institutional investors have also modified their holdings of NVS. Nexus Investment Management ULC bought a new stake in shares of Novartis during the first quarter worth approximately $25,000. Raiffeisen Bank International AG acquired a new position in Novartis in the 4th quarter valued at $25,000. Union Bancaire Privee UBP SA bought a new position in Novartis during the 4th quarter worth $27,000. Park Square Financial Group LLC acquired a new stake in shares of Novartis during the fourth quarter worth $30,000. Finally, Bellwether Advisors LLC bought a new stake in shares of Novartis in the fourth quarter valued at about $38,000. Institutional investors own 13.12% of the company's stock.
Novartis Trading Up 1.5%
NVS opened at $117.56 on Tuesday. Novartis AG has a twelve month low of $96.06 and a twelve month high of $120.92. The company has a 50-day simple moving average of $113.22 and a 200 day simple moving average of $107.66. The company has a quick ratio of 0.61, a current ratio of 0.79 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $248.34 billion, a price-to-earnings ratio of 18.37, a P/E/G ratio of 1.67 and a beta of 0.59.
Novartis (NYSE:NVS - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $2.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.12 by $0.16. Novartis had a net margin of 24.70% and a return on equity of 39.44%. The business had revenue of $13.23 billion for the quarter, compared to analysts' expectations of $12.92 billion. During the same period last year, the firm posted $1.80 earnings per share. The firm's quarterly revenue was up 11.9% compared to the same quarter last year. Analysts predict 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 research analysts have rated the stock with a sell rating, six have given a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $123.38.
Get Our Latest Research Report on Novartis
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.
Further Reading
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.
Before you consider Novartis, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Novartis wasn't on the list.
While Novartis currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Today, we are inviting you to take a free peek at our proprietary, exclusive, and up-to-the-minute list of 20 stocks that Wall Street's top analysts hate.
Many of these appear to have good fundamentals and might seem like okay investments, but something is wrong. Analysts smell something seriously rotten about these companies. These are true "Strong Sell" stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
