Notis McConarty Edward Raises Stake in Novartis AG (NYSE:NVS)
Notis McConarty Edward boosted its position in Novartis AG (NYSE:NVS) by 0.2% during the second quarter, Holdings Channel reports. The firm owned 34,975 shares of the company’s stock after buying an additional 72 shares during the period. Novartis AG accounts for 1.9% of Notis McConarty Edward’s investment portfolio, making the stock its 20th largest position. Notis McConarty Edward’s holdings in Novartis AG were worth $2,920,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Howe & Rusling Inc. raised its stake in Novartis AG by 192.2% in the first quarter. Howe & Rusling Inc. now owns 1,341 shares of the company’s stock worth $100,000 after buying an additional 882 shares during the period. City Holding Co. raised its stake in Novartis AG by 4.6% in the second quarter. City Holding Co. now owns 1,217 shares of the company’s stock worth $102,000 after buying an additional 54 shares during the period. TCI Wealth Advisors Inc. raised its stake in Novartis AG by 20.0% in the first quarter. TCI Wealth Advisors Inc. now owns 1,381 shares of the company’s stock worth $103,000 after buying an additional 230 shares during the period. Archford Capital Strategies LLC raised its stake in Novartis AG by 72.3% in the first quarter. Archford Capital Strategies LLC now owns 1,480 shares of the company’s stock worth $110,000 after buying an additional 621 shares during the period. Finally, Kernodle & Katon Asset Management Group LLC raised its stake in Novartis AG by 3.4% in the first quarter. Kernodle & Katon Asset Management Group LLC now owns 1,488 shares of the company’s stock worth $111,000 after buying an additional 49 shares during the period. Institutional investors own 11.27% of the company’s stock.
Shares of Novartis AG (NVS) traded up 0.22% on Friday, hitting $83.36. The stock had a trading volume of 920,198 shares. The firm’s 50-day moving average is $84.25 and its 200 day moving average is $78.58. The stock has a market cap of $195.30 billion, a P/E ratio of 30.43 and a beta of 0.73. Novartis AG has a 1-year low of $66.93 and a 1-year high of $86.90.
Novartis AG (NYSE:NVS) last released its 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 firm had revenue of $12.24 billion during the quarter, compared to analysts’ expectations of $12.20 billion. Novartis AG had a return on equity of 15.51% and a net margin of 13.52%. The company’s revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.23 EPS. Equities analysts forecast that Novartis AG will post $4.73 EPS for the current year.
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A number of research firms have recently issued reports on NVS. BidaskClub lowered Novartis AG from a “hold” rating to a “sell” rating in a research note on Friday. Cowen and Company set a $90.00 target price on Novartis AG and gave the company a “hold” rating in a research note on Wednesday. Morgan Stanley upgraded Novartis AG from an “underweight” rating to an “overweight” rating in a research note on Wednesday, July 26th. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Novartis AG in a research note on Monday, July 17th. Finally, Zacks Investment Research lowered Novartis AG from a “hold” rating to a “sell” rating in a research note on Monday, July 10th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $83.56.
In related news, major shareholder Bioventures Ltd Novartis acquired 266,667 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The stock was bought at an average price of $15.00 per share, for a total transaction of $4,000,005.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.01% of the stock is owned by company 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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