Oppenheimer Asset Management Inc. increased its stake in Novartis AG (NYSE:NVS) by 6.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 294,227 shares of the company’s stock after purchasing an additional 17,792 shares during the quarter. Novartis makes up 0.6% of Oppenheimer Asset Management Inc.’s investment portfolio, making the stock its 27th largest holding. Oppenheimer Asset Management Inc.’s holdings in Novartis were worth $25,351,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of NVS. Commerzbank Aktiengesellschaft FI grew its stake in Novartis by 13.7% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 48,425 shares of the company’s stock valued at $3,658,000 after acquiring an additional 5,823 shares in the last quarter. Fosun International Ltd purchased a new position in Novartis during the 2nd quarter valued at about $468,000. Neuburgh Advisers LLC grew its stake in Novartis by 13.0% during the 2nd quarter. Neuburgh Advisers LLC now owns 22,984 shares of the company’s stock valued at $1,736,000 after acquiring an additional 2,652 shares in the last quarter. Cox Capital Co LLC purchased a new position in Novartis during the 2nd quarter valued at about $1,399,000. Finally, Carillon Tower Advisers Inc. grew its stake in Novartis by 16.9% during the 2nd quarter. Carillon Tower Advisers Inc. now owns 163,661 shares of the company’s stock valued at $12,363,000 after acquiring an additional 23,605 shares in the last quarter. 10.94% of the stock is currently owned by hedge funds and other institutional investors.
NVS has been the topic of several research analyst reports. Zacks Investment Research raised Novartis from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a research note on Tuesday, September 18th. Citigroup raised Novartis from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 11th. Bank of America raised Novartis from an “underperform” rating to a “buy” rating and set a $74.71 target price on the stock in a research note on Monday, September 10th. Exane BNP Paribas raised Novartis from an “underperform” rating to a “neutral” rating in a research note on Tuesday, September 11th. Finally, BNP Paribas raised Novartis from an “underperform” rating to a “neutral” rating in a research note on Tuesday, September 11th. Twelve equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $84.86.
Shares of NYSE NVS traded down $0.45 during trading hours on Friday, hitting $85.29. The stock had a trading volume of 4,323,607 shares, compared to its average volume of 1,831,201. The stock has a market cap of $201.85 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 1.93 and a beta of 0.83. Novartis AG has a 52 week low of $72.30 and a 52 week high of $94.19. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.96 and a current ratio of 1.20.
Novartis (NYSE:NVS) last announced its quarterly earnings results on Thursday, October 18th. The company reported $1.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.01. The business had revenue of $12.78 billion during the quarter, compared to analysts’ expectations of $12.88 billion. Novartis had a return on equity of 15.81% and a net margin of 25.98%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.29 EPS. On average, analysts predict that Novartis AG will post 5.17 EPS for the current year.
Novartis AG researches, develops, manufactures, and markets a range of healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines to enhance health outcomes for patients and health-care providers. This segment also commercializes products in the areas of oncology and rare diseases, ophthalmology, immunology and dermatology, neuroscience, respiratory, cardio-metabolic, and established medicines.
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