LS Investment Advisors LLC Has $191,000 Stake in Novartis AG (NYSE:NVS)
LS Investment Advisors LLC maintained its position in shares of Novartis AG (NYSE:NVS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,285 shares of the company’s stock at the end of the second quarter. LS Investment Advisors LLC’s holdings in Novartis AG were worth $191,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the company. Hall Laurie J Trustee boosted its position in Novartis AG by 2.8% in the first quarter. Hall Laurie J Trustee now owns 16,663 shares of the company’s stock worth $1,229,000 after buying an additional 450 shares during the period. TNB Financial bought a new position in Novartis AG during the first quarter worth $6,982,000. Capstone Asset Management Co. boosted its position in Novartis AG by 7.6% in the first quarter. Capstone Asset Management Co. now owns 128,300 shares of the company’s stock worth $9,529,000 after buying an additional 9,010 shares during the period. First PREMIER Bank boosted its position in Novartis AG by 2.4% in the first quarter. First PREMIER Bank now owns 2,242 shares of the company’s stock worth $166,000 after buying an additional 52 shares during the period. Finally, E&G Advisors LP boosted its position in Novartis AG by 27.0% in the first quarter. E&G Advisors LP now owns 10,350 shares of the company’s stock worth $769,000 after buying an additional 2,200 shares during the period. Institutional investors own 11.27% of the company’s stock.
Shares of Novartis AG (NYSE:NVS) traded up 0.04% during midday trading on Tuesday, reaching $84.47. 418,031 shares of the company were exchanged. The firm’s 50 day moving average is $83.64 and its 200-day moving average is $78.07. Novartis AG has a 52-week low of $66.93 and a 52-week high of $86.90. The company has a market capitalization of $197.90 billion, a PE ratio of 30.84 and a beta of 0.73.
Novartis AG (NYSE:NVS) last issued its quarterly earnings results on Tuesday, July 18th. The company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.16 by $0.06. Novartis AG had a net margin of 13.52% and a return on equity of 15.51%. The firm had revenue of $12.24 billion for the quarter, compared to analysts’ expectations of $12.20 billion. During the same period in the previous year, the business earned $1.23 earnings per share. Novartis AG’s revenue for the quarter was down 1.8% compared to the same quarter last year. On average, equities analysts forecast that Novartis AG will post $4.75 earnings per share for the current fiscal year.
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NVS has been the topic of a number of recent analyst reports. TheStreet raised shares of Novartis AG from a “c+” rating to a “b” rating in a research note on Friday, June 2nd. Barclays PLC raised shares of Novartis AG from an “underweight” rating to an “equal weight” rating in a research note on Thursday, June 22nd. Zacks Investment Research raised shares of Novartis AG from a “strong sell” rating to a “hold” rating in a research note on Monday, May 1st. Vetr cut shares of Novartis AG from a “buy” rating to a “hold” rating and set a $78.32 price target on the stock. in a research note on Tuesday, April 25th. Finally, Cowen and Company set a $77.00 price target on shares of Novartis AG and gave the stock a “hold” rating in a research note on Tuesday, July 11th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. Novartis AG presently has a consensus rating of “Hold” and a consensus target price of $81.71.
In other Novartis AG news, major shareholder Bioventures Ltd Novartis purchased 266,667 shares of the company’s stock in a transaction on Wednesday, July 5th. The shares were purchased at an average cost of $15.00 per share, for a total transaction of $4,000,005.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.01% of the stock is currently owned by 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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