Parametric Portfolio Associates LLC boosted its position in Novartis AG (NYSE:NVS) by 0.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,395,729 shares of the company’s stock after buying an additional 12,420 shares during the period. Parametric Portfolio Associates LLC’s holdings in Novartis were worth $230,325,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Truvestments Capital LLC purchased a new stake in Novartis in the 1st quarter worth approximately $25,000. Canton Hathaway LLC purchased a new stake in Novartis in the 1st quarter worth approximately $26,000. Harvest Group Wealth Management LLC purchased a new stake in Novartis in the 1st quarter worth approximately $27,000. AlphaMark Advisors LLC purchased a new stake in Novartis in the 4th quarter worth approximately $30,000. Finally, Financial Gravity Wealth Inc. purchased a new stake in Novartis in the 1st quarter worth approximately $33,000. Hedge funds and other institutional investors own 11.82% of the company’s stock.
Shares of NVS stock opened at $84.44 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.93 and a quick ratio of 0.83. The company has a market cap of $195.06 billion, a PE ratio of 16.59, a price-to-earnings-growth ratio of 1.98 and a beta of 0.66. Novartis AG has a 1-year low of $63.60 and a 1-year high of $85.08.
Novartis (NYSE:NVS) last announced its earnings results on Wednesday, April 24th. The company reported $1.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.10. The business had revenue of $11.11 billion during the quarter, compared to the consensus estimate of $11.76 billion. Novartis had a return on equity of 16.75% and a net margin of 24.55%. The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.28 EPS. On average, sell-side analysts forecast that Novartis AG will post 5 earnings per share for the current fiscal year.
Several equities research analysts have commented on NVS shares. JPMorgan Chase & Co. restated a “sell” rating on shares of Novartis in a research report on Tuesday, January 29th. Morgan Stanley lowered Novartis from an “equal weight” rating to an “underweight” rating and upped their price objective for the stock from $82.50 to $82.52 in a research report on Wednesday, April 10th. Zacks Investment Research lowered Novartis from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 11th. Guggenheim upgraded Novartis from a “neutral” rating to a “buy” rating and set a $79.16 price objective on the stock in a research report on Wednesday, April 24th. Finally, Liberum Capital upgraded Novartis from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. Five research analysts have rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $87.57.
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Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.
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