Novartis AG (NVS) Stake Increased by Concert Wealth Management Inc.
Concert Wealth Management Inc. increased its stake in shares of Novartis AG (NYSE:NVS) by 5.4% during the second quarter, according to its most recent filing with the SEC. The fund owned 9,186 shares of the company’s stock after buying an additional 467 shares during the period. Concert Wealth Management Inc.’s holdings in Novartis AG were worth $759,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of NVS. Loomis Sayles & Co. L P raised its stake in shares of Novartis AG by 8.5% in the first quarter. Loomis Sayles & Co. L P now owns 5,242,948 shares of the company’s stock valued at $379,800,000 after buying an additional 408,972 shares in the last quarter. Woodley Farra Manion Portfolio Management Inc. acquired a new stake in shares of Novartis AG during the second quarter valued at about $26,632,000. Cambiar Investors LLC raised its stake in shares of Novartis AG by 12.1% in the second quarter. Cambiar Investors LLC now owns 2,117,314 shares of the company’s stock valued at $174,700,000 after buying an additional 229,198 shares in the last quarter. Thomaspartners Inc. raised its stake in shares of Novartis AG by 14.7% in the first quarter. Thomaspartners Inc. now owns 1,484,339 shares of the company’s stock valued at $107,526,000 after buying an additional 190,399 shares in the last quarter. Finally, Bank of Montreal Can acquired a new stake in shares of Novartis AG during the second quarter valued at about $15,682,000. Institutional investors and hedge funds own 9.78% of the company’s stock.
Shares of Novartis AG (NYSE:NVS) traded down 1.05% during mid-day trading on Tuesday, hitting $76.93. The stock had a trading volume of 2,584,605 shares. Novartis AG has a 12 month low of $69.90 and a 12 month high of $95.11. The company has a market cap of $183.19 billion, a PE ratio of 27.47 and a beta of 0.57. The stock’s 50-day moving average is $79.80 and its 200 day moving average is $78.99.
Novartis AG (NYSE:NVS) last announced its quarterly earnings results on Tuesday, July 19th. The company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.05. The firm had revenue of $12.47 billion for the quarter, compared to the consensus estimate of $12.33 billion. Novartis AG had a return on equity of 15.33% and a net margin of 13.84%. During the same period in the prior year, the company posted $1.25 earnings per share. On average, equities research analysts forecast that Novartis AG will post $4.72 earnings per share for the current fiscal year.
NVS has been the subject of several research analyst reports. Zacks Investment Research lowered Novartis AG from a “hold” rating to a “sell” rating in a research report on Wednesday, September 21st. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Novartis AG in a research report on Tuesday, July 19th. Chardan Capital decreased their target price on Novartis AG from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Monday. TheStreet raised Novartis AG from a “hold” rating to a “buy” rating in a research report on Friday, June 24th. Finally, Argus reaffirmed a “hold” rating on shares of Novartis AG in a research report on Thursday, August 25th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $91.33.
Novartis AG Company Profile
Novartis AG is a holding company. The Company specializes in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals, including eye care products. Its portfolio includes medicines, eye care and generic pharmaceuticals. The Company’s segments include Pharmaceuticals, Alcon and Sandoz.
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