Perigon Wealth Management LLC bought a new position in shares of Novartis AG (NYSE:NVS) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 3,652 shares of the company’s stock, valued at approximately $319,000.
Other institutional investors also recently bought and sold shares of the company. Marquette Asset Management LLC bought a new position in shares of Novartis during the 1st quarter worth approximately $25,000. Advisory Alpha LLC bought a new position in shares of Novartis during the 1st quarter worth approximately $26,000. Creative Financial Designs Inc. ADV lifted its position in shares of Novartis by 262.0% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 333 shares of the company’s stock worth $29,000 after buying an additional 241 shares during the period. Weaver Consulting Group lifted its position in shares of Novartis by 46.4% during the 2nd quarter. Weaver Consulting Group now owns 410 shares of the company’s stock worth $36,000 after buying an additional 130 shares during the period. Finally, JCIC Asset Management Inc. lifted its position in shares of Novartis by 37.8% during the 1st quarter. JCIC Asset Management Inc. now owns 565 shares of the company’s stock worth $47,000 after buying an additional 155 shares during the period. Institutional investors and hedge funds own 10.80% of the company’s stock.
Several equities analysts have issued reports on NVS shares. Citigroup upgraded Novartis from a “neutral” rating to a “buy” rating in a research report on Monday, June 15th. UBS Group reiterated a “neutral” rating on shares of Novartis in a research report on Monday, May 11th. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Novartis in a research report on Wednesday, April 29th. ValuEngine downgraded Novartis from a “hold” rating to a “sell” rating in a research report on Friday, June 5th. Finally, Barclays reiterated an “underweight” rating on shares of Novartis in a research report on Wednesday, April 29th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $108.00.
Novartis (NYSE:NVS) last released its earnings results on Tuesday, July 21st. The company reported $1.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.05. The company had revenue of $11.35 billion during the quarter, compared to analysts’ expectations of $11.77 billion. Novartis had a return on equity of 24.14% and a net margin of 14.96%. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period last year, the firm earned $1.34 EPS. Equities research analysts forecast that Novartis AG will post 5.67 earnings per share for the current fiscal year.
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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