Vident Investment Advisory LLC Has $2.51 Million Stake in Novartis AG (NVS)
Vident Investment Advisory LLC increased its position in Novartis AG (NYSE:NVS) by 58.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,164 shares of the company’s stock after acquiring an additional 12,263 shares during the quarter. Vident Investment Advisory LLC’s holdings in Novartis were worth $2,505,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in NVS. Loomis Sayles & Co. L P lifted its position in Novartis by 12.8% during the first quarter. Loomis Sayles & Co. L P now owns 7,802,086 shares of the company’s stock valued at $630,799,000 after purchasing an additional 887,198 shares during the last quarter. Fisher Asset Management LLC lifted its position in Novartis by 4.5% during the second quarter. Fisher Asset Management LLC now owns 7,325,261 shares of the company’s stock valued at $553,350,000 after purchasing an additional 318,787 shares during the last quarter. Boston Partners lifted its position in Novartis by 106.0% during the second quarter. Boston Partners now owns 5,606,630 shares of the company’s stock valued at $423,525,000 after purchasing an additional 2,885,436 shares during the last quarter. Northern Trust Corp lifted its position in Novartis by 2.3% during the first quarter. Northern Trust Corp now owns 4,089,571 shares of the company’s stock valued at $330,642,000 after purchasing an additional 90,010 shares during the last quarter. Finally, Charles Schwab Investment Advisory Inc. bought a new stake in Novartis during the second quarter valued at approximately $297,538,000. Institutional investors own 11.16% of the company’s stock.
Several equities research analysts have issued reports on NVS shares. Credit Suisse Group upgraded shares of Novartis from an “underperform” rating to a “neutral” rating in a research report on Friday, May 25th. HSBC lowered shares of Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, May 29th. Zacks Investment Research lowered shares of Novartis from a “hold” rating to a “sell” rating in a research report on Thursday, June 7th. ValuEngine lowered shares of Novartis from a “sell” rating to a “strong sell” rating in a research report on Monday, July 2nd. Finally, DZ Bank reiterated a “buy” rating on shares of Novartis in a research report on Thursday, July 19th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $87.24.
NVS stock opened at $85.22 on Friday. The company has a market cap of $195.66 billion, a price-to-earnings ratio of 16.78, a price-to-earnings-growth ratio of 1.77 and a beta of 0.85. Novartis AG has a one year low of $72.30 and a one year high of $94.19. The company has a current ratio of 1.15, a quick ratio of 0.89 and a debt-to-equity ratio of 0.30.
Novartis (NYSE:NVS) last posted its quarterly earnings results on Wednesday, July 18th. The company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.27 by $0.02. The firm had revenue of $13.16 billion for the quarter, compared to the consensus estimate of $12.93 billion. Novartis had a net margin of 27.06% and a return on equity of 16.05%. The business’s revenue was up 7.5% compared to the same quarter last year. During the same period last year, the firm posted $1.22 earnings per share. analysts anticipate that Novartis AG will post 5.17 EPS for the current year.
Novartis AG researches, develops, manufactures, and markets a range of healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines to enhance health outcomes for patients and health-care providers. This segment also commercializes products in the areas of oncology and rare diseases, ophthalmology, immunology and dermatology, neuroscience, respiratory, cardio-metabolic, and established medicines.
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