HL Financial Services LLC boosted its stake in Novartis AG (NYSE:NVS) by 17.1% in the third quarter, HoldingsChannel.com reports. The fund owned 15,835 shares of the company’s stock after buying an additional 2,318 shares during the quarter. HL Financial Services LLC’s holdings in Novartis were worth $1,364,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. WESPAC Advisors SoCal LLC purchased a new position in shares of Novartis during the 3rd quarter valued at approximately $152,000. Quad Cities Investment Group LLC purchased a new position in shares of Novartis during the 2nd quarter valued at approximately $139,000. Davis R M Inc. purchased a new position in shares of Novartis during the 3rd quarter valued at approximately $200,000. First Midwest Bank Trust Division purchased a new position in shares of Novartis during the 3rd quarter valued at approximately $204,000. Finally, Patton Albertson Miller Group LLC purchased a new position in shares of Novartis during the 3rd quarter valued at approximately $211,000. Hedge funds and other institutional investors own 10.95% of the company’s stock.
NVS stock opened at $89.22 on Friday. The company has a current ratio of 1.20, a quick ratio of 0.96 and a debt-to-equity ratio of 0.29. The company has a market cap of $206.81 billion, a P/E ratio of 17.67, a PEG ratio of 1.97 and a beta of 0.73. Novartis AG has a 12-month low of $72.30 and a 12-month high of $94.19.
Novartis (NYSE:NVS) last posted its quarterly earnings results on Thursday, October 18th. The company reported $1.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.01. The business had revenue of $12.78 billion for the quarter, compared to analyst estimates of $12.88 billion. Novartis had a return on equity of 15.81% and a net margin of 25.98%. The business’s revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.29 EPS. Sell-side analysts expect that Novartis AG will post 5.17 earnings per share for the current year.
Several equities analysts have recently commented on the company. ValuEngine upgraded Novartis from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 19th. Citigroup upgraded Novartis from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 11th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Novartis in a research note on Tuesday, November 6th. Guggenheim assumed coverage on Novartis in a research note on Monday, October 8th. They set a “neutral” rating for the company. Finally, DZ Bank reiterated a “buy” rating on shares of Novartis in a research note on Thursday, July 19th. Twelve equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $84.86.
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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