Novartis AG (NVS) Shares Bought by Peloton Wealth Strategists
Peloton Wealth Strategists increased its stake in Novartis AG (NYSE:NVS) by 6.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,200 shares of the company’s stock after buying an additional 1,000 shares during the period. Peloton Wealth Strategists’ holdings in Novartis AG were worth $1,352,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of NVS. Westwood Holdings Group Inc. increased its stake in Novartis AG by 5.6% during the first quarter. Westwood Holdings Group Inc. now owns 5,405 shares of the company’s stock valued at $401,000 after purchasing an additional 285 shares during the last quarter. AT Bancorp increased its stake in Novartis AG by 4.2% during the first quarter. AT Bancorp now owns 11,690 shares of the company’s stock valued at $868,000 after purchasing an additional 470 shares during the last quarter. Mechanics Bank Trust Department bought a new stake in Novartis AG during the second quarter valued at $389,000. WealthTrust Axiom LLC increased its stake in Novartis AG by 41.4% during the second quarter. WealthTrust Axiom LLC now owns 25,032 shares of the company’s stock valued at $2,089,000 after purchasing an additional 7,334 shares during the last quarter. Finally, Investment Centers of America Inc. boosted its holdings in shares of Novartis AG by 3.1% during the first quarter. Investment Centers of America Inc. now owns 7,639 shares of the company’s stock valued at $566,000 after acquiring an additional 231 shares during the period. Institutional investors and hedge funds own 10.98% of the company’s stock.
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NVS has been the subject of several analyst reports. TheStreet raised shares of Novartis AG from a “c+” rating to a “b” rating in a report on Friday, June 2nd. Barclays PLC raised shares of Novartis AG from an “underweight” rating to an “equal weight” rating in a report on Thursday, June 22nd. Cowen and Company set a $77.00 price target on shares of Novartis AG and gave the company a “hold” rating in a report on Tuesday, July 11th. BidaskClub raised shares of Novartis AG from a “sell” rating to a “hold” rating in a report on Saturday, August 5th. Finally, Leerink Swann reissued a “market perform” rating and set a $83.00 price target on shares of Novartis AG in a report on Thursday, June 22nd. Three equities 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 stock. Novartis AG has an average rating of “Hold” and an average target price of $83.56.
In other news, major shareholder Bioventures Ltd Novartis bought 266,667 shares of the stock in a transaction on Wednesday, July 5th. The stock was bought at an average cost of $15.00 per share, for a total transaction of $4,000,005.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.01% of the stock is owned by company insiders.
Shares of Novartis AG (NYSE:NVS) opened at 85.4299 on Thursday. The stock has a market capitalization of $200.15 billion, a price-to-earnings ratio of 31.1902 and a beta of 0.74. Novartis AG has a 52 week low of $66.93 and a 52 week high of $86.90. The firm’s 50-day moving average is $84.19 and its 200-day moving average is $80.17.
Novartis AG (NYSE:NVS) last announced its earnings results on Tuesday, July 18th. The company reported $1.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.06. The company had revenue of $12.24 billion during the quarter, compared to the consensus estimate of $12.20 billion. Novartis AG had a net margin of 13.52% and a return on equity of 15.51%. Novartis AG’s revenue was down 1.8% compared to the same quarter last year. During the same period last year, the firm earned $1.23 earnings per share. Analysts forecast that Novartis AG will post $4.75 earnings per share for the current fiscal year.
About Novartis AG
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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