Cohen Lawrence B Boosts Stake in Novartis AG (NVS)
Cohen Lawrence B boosted its position in Novartis AG (NYSE:NVS) by 3.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,643 shares of the company’s stock after buying an additional 855 shares during the period. Cohen Lawrence B’s holdings in Novartis AG were worth $2,224,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently made changes to their positions in the company. Quadrant Capital Group LLC increased its stake in shares of Novartis AG by 78.2% in the first quarter. Quadrant Capital Group LLC now owns 3,909 shares of the company’s stock worth $282,000 after buying an additional 1,716 shares in the last quarter. Union Bankshares Corp increased its stake in shares of Novartis AG by 7.7% in the first quarter. Union Bankshares Corp now owns 37,422 shares of the company’s stock worth $2,779,000 after buying an additional 2,678 shares in the last quarter. Chesley Taft & Associates LLC increased its stake in shares of Novartis AG by 0.5% in the first quarter. Chesley Taft & Associates LLC now owns 59,872 shares of the company’s stock worth $4,447,000 after buying an additional 280 shares in the last quarter. Stock Yards Bank & Trust Co. increased its stake in shares of Novartis AG by 3.2% in the first quarter. Stock Yards Bank & Trust Co. now owns 3,183 shares of the company’s stock worth $236,000 after buying an additional 100 shares in the last quarter. Finally, Douglass Winthrop Advisors LLC increased its stake in shares of Novartis AG by 6.2% in the first quarter. Douglass Winthrop Advisors LLC now owns 445,114 shares of the company’s stock worth $33,059,000 after buying an additional 26,165 shares in the last quarter. Institutional investors own 11.28% of the company’s stock.
Novartis AG (NYSE:NVS) traded up 0.12% during trading on Friday, hitting $84.97. The company had a trading volume of 990,062 shares. The stock has a 50-day moving average of $83.64 and a 200 day moving average of $78.07. The company has a market capitalization of $199.08 billion, a price-to-earnings ratio of 31.02 and a beta of 0.73. Novartis AG has a one year low of $66.93 and a one year high of $86.90.
Novartis AG (NYSE:NVS) last issued its quarterly earnings results on Tuesday, July 18th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.06. The business had revenue of $12.24 billion for the quarter, compared to the consensus estimate of $12.20 billion. Novartis AG had a return on equity of 15.51% and a net margin of 13.52%. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.23 earnings per share. Equities analysts forecast that Novartis AG will post $4.75 EPS for the current fiscal year.
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A number of analysts have commented on the company. Leerink Swann reiterated a “market perform” rating and issued a $83.00 price objective on shares of Novartis AG in a research report on Thursday, June 22nd. BidaskClub downgraded Novartis AG from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Morgan Stanley upgraded Novartis AG from an “underweight” rating to an “overweight” rating in a research report on Wednesday, July 26th. Credit Suisse Group downgraded Novartis AG from a “neutral” rating to an “underperform” rating and set a $82.25 price objective for the company. in a research report on Wednesday, July 5th. Finally, Cowen and Company reiterated a “hold” rating on shares of Novartis AG in a research report on Tuesday, July 18th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. Novartis AG currently has a consensus rating of “Hold” and an average price target of $81.71.
In other Novartis AG news, major shareholder Bioventures Ltd Novartis bought 266,667 shares of the business’s stock in a transaction on Wednesday, July 5th. The stock was purchased at an average cost of $15.00 per share, for a total transaction of $4,000,005.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.01% of the stock is owned by corporate insiders.
Novartis AG Company Profile
Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.
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