West Oak Capital LLC Increases Stake in Novartis AG $NVS

Key Points

• West Oak Capital LLC increased its stake in Novartis AG by 13.2% during the second quarter, bringing its total holdings to 21,413 shares valued at approximately $2.59 million.
• Novartis reported a significant 12.3% increase in revenue year-over-year for the most recent quarter, with earnings per share (EPS) at $2.42, beating analysts' expectations.
• Institutional investors now hold 13.12% of Novartis' stock, with various firms acquiring new positions and increasing their stakes in the company.

West Oak Capital LLC grew its stake in Novartis AG (NYSE:NVS - Free Report) by 13.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 21,413 shares of the company's stock after buying an additional 2,500 shares during the quarter. West Oak Capital LLC's holdings in Novartis were worth $2,591,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in NVS. Nexus Investment Management ULC acquired a new position in Novartis during the first quarter worth approximately $25,000. WPG Advisers LLC acquired a new position in Novartis during the first quarter worth $25,000. Tsfg LLC grew its holdings in Novartis by 366.0% during the first quarter. Tsfg LLC now owns 233 shares of the company's stock worth $26,000 after acquiring an additional 183 shares during the period. Alpine Bank Wealth Management purchased a new stake in Novartis during the first quarter worth $33,000. Finally, Park Square Financial Group LLC purchased a new stake in Novartis during the fourth quarter worth $30,000. Hedge funds and other institutional investors own 13.12% of the company's stock.

Novartis Stock Performance

Shares of Novartis stock opened at $123.44 on Tuesday. The stock has a market cap of $260.76 billion, a PE ratio of 17.97, a price-to-earnings-growth ratio of 1.72 and a beta of 0.63. Novartis AG has a 12 month low of $96.06 and a 12 month high of $130.46. The company has a quick ratio of 0.62, a current ratio of 0.82 and a debt-to-equity ratio of 0.53. The business has a fifty day simple moving average of $121.81 and a 200-day simple moving average of $116.29.

Novartis (NYSE:NVS - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $2.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $13.94 billion. During the same quarter last year, the firm earned $1.97 earnings per share. The business's revenue for the quarter was up 12.3% on a year-over-year basis. On average, sell-side analysts anticipate that Novartis AG will post 8.45 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. The Goldman Sachs Group restated a "sell" rating and issued a $118.00 price objective (down from $119.00) on shares of Novartis in a research report on Friday, September 12th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Novartis in a research note on Thursday, August 21st. Morgan Stanley upgraded Novartis from an "underweight" rating to an "equal weight" rating and set a $123.00 price target for the company in a research note on Friday, August 8th. Finally, Wall Street Zen lowered Novartis from a "strong-buy" rating to a "buy" rating in a research note on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Novartis presently has a consensus rating of "Hold" and a consensus price target of $120.33.

About Novartis

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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