Kanawha Capital Management LLC Has $256,000 Stake in Novartis AG (NVS)
Kanawha Capital Management LLC held its position in Novartis AG (NYSE:NVS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,100 shares of the company’s stock at the end of the second quarter. Kanawha Capital Management LLC’s holdings in Novartis AG were worth $256,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of NVS. Integrated Investment Consultants LLC raised its position in Novartis AG by 6.3% in the second quarter. Integrated Investment Consultants LLC now owns 1,240 shares of the company’s stock worth $102,000 after buying an additional 74 shares during the last quarter. Iowa State Bank acquired a new stake in shares of Novartis AG during the second quarter worth about $122,000. Capital Analysts LLC increased its stake in shares of Novartis AG by 3.5% in the second quarter. Capital Analysts LLC now owns 2,084 shares of the company’s stock worth $172,000 after buying an additional 70 shares during the period. Quadrant Capital Group LLC increased its stake in shares of Novartis AG by 33.9% in the second quarter. Quadrant Capital Group LLC now owns 2,357 shares of the company’s stock worth $186,000 after buying an additional 597 shares during the period. Finally, Ledyard National Bank increased its stake in shares of Novartis AG by 13.6% in the second quarter. Ledyard National Bank now owns 2,343 shares of the company’s stock worth $193,000 after buying an additional 281 shares during the period. 9.77% of the stock is owned by institutional investors and hedge funds.
Shares of Novartis AG (NYSE:NVS) traded up 0.853% during trading on Tuesday, reaching $76.225. The company’s stock had a trading volume of 2,237,413 shares. Novartis AG has a 12-month low of $69.90 and a 12-month high of $93.72. The stock has a market cap of $181.51 billion, a price-to-earnings ratio of 27.213 and a beta of 0.57. The company has a 50 day moving average of $79.22 and a 200-day moving average of $79.08.
Novartis AG (NYSE:NVS) last issued its quarterly earnings results on Tuesday, July 19th. The company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.05. The business earned $12.47 billion during the quarter, compared to analysts’ expectations of $12.33 billion. Novartis AG had a return on equity of 15.33% and a net margin of 13.84%. During the same quarter in the prior year, the business posted $1.25 earnings per share. Analysts forecast that Novartis AG will post $4.72 EPS for the current year.
A number of analysts have recently issued reports on the company. Zacks Investment Research downgraded Novartis AG from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Novartis AG in a research report on Tuesday, July 19th. Chardan Capital assumed coverage on Novartis AG in a research report on Tuesday, September 20th. They set a “buy” rating and a $95.00 price target for the company. TheStreet downgraded Novartis AG from a “buy” rating to a “hold” rating in a research report on Wednesday, September 28th. Finally, Jefferies Group reiterated a “buy” rating on shares of Novartis AG in a research report on Sunday. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price 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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