Girard Partners LTD. acquired a new stake in shares of Novartis AG (NYSE:NVS) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,830 shares of the company’s stock, valued at approximately $243,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Farr Miller & Washington LLC DC raised its stake in shares of Novartis AG by 0.3% during the 2nd quarter. Farr Miller & Washington LLC DC now owns 2,959 shares of the company’s stock valued at $247,000 after buying an additional 10 shares during the last quarter. FCG Advisors LLC raised its stake in shares of Novartis AG by 0.3% during the 2nd quarter. FCG Advisors LLC now owns 4,271 shares of the company’s stock valued at $357,000 after buying an additional 12 shares during the last quarter. Washington Trust Bank raised its stake in shares of Novartis AG by 0.3% during the 2nd quarter. Washington Trust Bank now owns 4,384 shares of the company’s stock valued at $366,000 after buying an additional 14 shares during the last quarter. Ledyard National Bank raised its stake in shares of Novartis AG by 0.9% during the 2nd quarter. Ledyard National Bank now owns 3,428 shares of the company’s stock valued at $286,000 after buying an additional 30 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its stake in shares of Novartis AG by 0.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 4,492 shares of the company’s stock valued at $375,000 after buying an additional 31 shares during the last quarter. Institutional investors and hedge funds own 10.74% of the company’s stock.

NVS has been the subject of a number of recent research reports. Zacks Investment Research upgraded Novartis AG from a “hold” rating to a “buy” rating and set a $96.00 price objective for the company in a research note on Tuesday, September 19th. Cowen and Company set a $90.00 target price on Novartis AG and gave the company a “hold” rating in a research report on Wednesday, August 9th. BidaskClub upgraded Novartis AG from a “sell” rating to a “hold” rating in a research report on Saturday, August 5th. Leerink Swann raised their target price on Novartis AG from $89.00 to $91.00 and gave the company a “market perform” rating in a research report on Monday, October 23rd. Finally, J P Morgan Chase & Co restated a “neutral” rating on shares of Novartis AG in a research report on Tuesday, October 10th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $85.32.

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Novartis AG (NYSE:NVS) traded down $0.76 during mid-day trading on Tuesday, reaching $83.22. The company had a trading volume of 4,008,600 shares, compared to its average volume of 2,330,738. The company has a current ratio of 1.08, a quick ratio of 0.81 and a debt-to-equity ratio of 0.32. Novartis AG has a 12 month low of $66.93 and a 12 month high of $86.90. The firm has a market cap of $198,662.67, a PE ratio of 17.68, a price-to-earnings-growth ratio of 2.68 and a beta of 0.72.

Novartis AG (NYSE:NVS) last posted its quarterly earnings data on Tuesday, October 24th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.04. Novartis AG had a return on equity of 15.77% and a net margin of 13.73%. The company had revenue of $12.41 billion for the quarter, compared to analysts’ expectations of $12.21 billion. During the same period in the previous year, the firm posted $1.23 EPS. Novartis AG’s revenue was up 2.4% compared to the same quarter last year. equities research analysts anticipate 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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Institutional Ownership by Quarter for Novartis AG (NYSE:NVS)

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