Janus Henderson Group PLC boosted its stake in shares of Novartis AG (NYSE:NVS) by 5.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,903,956 shares of the company’s stock after acquiring an additional 186,461 shares during the quarter. Janus Henderson Group PLC’s holdings in Novartis were worth $356,470,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. Truvestments Capital LLC bought a new position in shares of Novartis in the first quarter valued at $25,000. Harvest Group Wealth Management LLC acquired a new position in Novartis during the first quarter worth about $27,000. Asset Dedication LLC raised its stake in Novartis by 98.7% during the second quarter. Asset Dedication LLC now owns 304 shares of the company’s stock worth $27,000 after acquiring an additional 151 shares in the last quarter. Financial Gravity Wealth Inc. acquired a new position in Novartis during the first quarter worth about $33,000. Finally, Camarda Financial Advisors LLC acquired a new position in Novartis during the first quarter worth about $36,000. 11.87% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have commented on the company. Zacks Investment Research downgraded Novartis from a “buy” rating to a “hold” rating and set a $100.00 target price for the company. in a research note on Friday, July 19th. JPMorgan Chase & Co. reissued a “sell” rating on shares of Novartis in a research note on Friday, July 5th. Argus upped their price objective on Novartis to $105.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. They noted that the move was a valuation call. Kepler Capital Markets downgraded Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Liberum Capital raised Novartis from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $90.63.
Novartis (NYSE:NVS) last released its quarterly earnings data on Thursday, July 18th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.14. Novartis had a return on equity of 18.55% and a net margin of 23.27%. The company had revenue of $11.76 billion during the quarter, compared to the consensus estimate of $11.45 billion. During the same quarter in the prior year, the firm posted $1.29 earnings per share. The firm’s revenue was up 3.7% compared to the same quarter last year. On average, equities analysts anticipate that Novartis AG will post 5.06 earnings per share for the current year.
Novartis Company Profile
Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.
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