2,904 Shares in Novartis AG (NVS) Acquired by Cedar Hill Associates LLC
Cedar Hill Associates LLC purchased a new stake in shares of Novartis AG (NYSE:NVS) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 2,904 shares of the company’s stock, valued at approximately $248,000.
Other hedge funds have also recently added to or reduced their stakes in the company. WFG Advisors LP raised its position in shares of Novartis by 38.1% during the 2nd quarter. WFG Advisors LP now owns 1,221 shares of the company’s stock valued at $102,000 after buying an additional 337 shares during the period. Cable Hill Partners LLC raised its position in shares of Novartis by 588.8% during the 3rd quarter. Cable Hill Partners LLC now owns 1,295 shares of the company’s stock valued at $112,000 after buying an additional 1,107 shares during the period. Harding Loevner LP purchased a new stake in shares of Novartis during the 2nd quarter valued at approximately $146,000. Mosaic Family Wealth LLC raised its position in shares of Novartis by 6.1% during the 2nd quarter. Mosaic Family Wealth LLC now owns 2,144 shares of the company’s stock valued at $179,000 after buying an additional 123 shares during the period. Finally, Barrett Asset Management LLC raised its position in shares of Novartis by 650.0% during the 2nd quarter. Barrett Asset Management LLC now owns 2,250 shares of the company’s stock valued at $188,000 after buying an additional 1,950 shares during the period. 10.87% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently commented on NVS. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Novartis in a research report on Tuesday, October 24th. Bank of America lowered shares of Novartis from a “neutral” rating to an “underperform” rating in a research report on Wednesday, December 6th. Leerink Swann lifted their target price on shares of Novartis from $89.00 to $91.00 and gave the company a “market perform” rating in a report on Monday, October 23rd. Finally, Zacks Investment Research downgraded shares of Novartis from a “buy” rating to a “hold” rating in a report on Friday, October 6th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $85.32.
Novartis AG (NVS) traded down $0.16 during trading hours on Tuesday, hitting $83.80. 1,126,400 shares of the company’s stock traded hands, compared to its average volume of 2,259,253. The firm has a market capitalization of $198,615.36, a P/E ratio of 17.68, a price-to-earnings-growth ratio of 2.67 and a beta of 0.73. 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 fifty-two week low of $69.01 and a fifty-two week high of $86.90.
Novartis (NYSE:NVS) last posted its quarterly earnings results on Tuesday, October 24th. The company reported $1.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.04. The business had revenue of $12.41 billion during the quarter, compared to the consensus estimate of $12.21 billion. Novartis had a net margin of 13.73% and a return on equity of 15.77%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.23 earnings per share. research analysts expect that Novartis AG will post 4.75 earnings per share for the current fiscal year.
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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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