Camden National Bank raised its holdings in shares of Novartis AG (NYSE:NVS) by 1.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 74,420 shares of the company’s stock after purchasing an additional 809 shares during the quarter. Camden National Bank’s holdings in Novartis were worth $6,467,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Winslow Evans & Crocker Inc. lifted its holdings in Novartis by 11.8% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 1,084 shares of the company’s stock worth $102,000 after buying an additional 114 shares during the last quarter. PagnatoKarp Partners LLC lifted its holdings in Novartis by 0.6% during the 2nd quarter. PagnatoKarp Partners LLC now owns 18,887 shares of the company’s stock worth $1,725,000 after buying an additional 115 shares during the last quarter. Old Port Advisors lifted its holdings in Novartis by 4.5% during the 2nd quarter. Old Port Advisors now owns 2,722 shares of the company’s stock worth $252,000 after buying an additional 116 shares during the last quarter. IHT Wealth Management LLC lifted its holdings in Novartis by 3.6% during the 2nd quarter. IHT Wealth Management LLC now owns 3,514 shares of the company’s stock worth $321,000 after buying an additional 123 shares during the last quarter. Finally, Archford Capital Strategies LLC lifted its holdings in Novartis by 5.7% during the 1st quarter. Archford Capital Strategies LLC now owns 2,447 shares of the company’s stock worth $235,000 after buying an additional 131 shares during the last quarter. Hedge funds and other institutional investors own 11.19% of the company’s stock.
A number of research analysts have commented on the company. ValuEngine downgraded Novartis from a “hold” rating to a “sell” rating in a report on Thursday, September 12th. Kepler Capital Markets downgraded Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of Novartis in a report on Friday, July 5th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Novartis in a report on Thursday, August 29th. Finally, Argus increased their target price on Novartis to $105.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. They noted that the move was a valuation call. Five investment analysts have rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Novartis presently has a consensus rating of “Hold” and an average target price of $93.29.
Shares of NYSE NVS traded up $0.63 during mid-day trading on Friday, hitting $86.56. The company had a trading volume of 41,491 shares, compared to its average volume of 1,838,232. The stock has a market cap of $195.54 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 2.27 and a beta of 0.59. Novartis AG has a 12 month low of $71.86 and a 12 month high of $95.00. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.74. The firm’s 50 day simple moving average is $87.73 and its two-hundred day simple moving average is $87.94.
Novartis (NYSE:NVS) last announced its quarterly earnings results on Thursday, July 18th. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.14. The business had revenue of $11.76 billion for the quarter, compared to the consensus estimate of $11.45 billion. Novartis had a return on equity of 18.55% and a net margin of 23.27%. The business’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the business posted $1.29 EPS. Equities analysts forecast that Novartis AG will post 5.15 earnings per share for the current year.
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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