Kahn Brothers Group Inc. Takes $2.07 Million Position in Novartis AG $NVS

Kahn Brothers Group Inc. acquired a new position in shares of Novartis AG (NYSE:NVS) in the 2nd quarter, Holdings Channel reports. The fund acquired 13,186 shares of the company’s stock, valued at approximately $2,067,000.

Several other institutional investors also recently modified their holdings of NVS. Dearborn Partners LLC purchased a new stake in Novartis in the second quarter valued at approximately $5,021,000. First Bancorp Inc ME purchased a new position in Novartis in the 2nd quarter worth approximately $57,000. Pinnacle West Asset Management Inc. bought a new position in shares of Novartis in the 2nd quarter worth $651,000. Somerville Kurt F bought a new position in shares of Novartis in the 2nd quarter worth $1,636,000. Finally, Trust Co. of Vermont purchased a new stake in shares of Novartis during the 2nd quarter valued at $7,282,000. 13.12% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Novartis in a report on Friday, July 24th. Citigroup restated a “buy” rating on shares of Novartis in a research report on Wednesday, July 22nd. Seven analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $141.20.

Novartis Stock Down 1.9%

Shares of NYSE NVS opened at $154.54 on Friday. Novartis AG has a one year low of $121.57 and a one year high of $170.46. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.86 and a quick ratio of 0.67. The firm’s 50 day simple moving average is $154.94 and its two-hundred day simple moving average is $153.78. The stock has a market capitalization of $294.88 billion, a P/E ratio of 23.31, a PEG ratio of 2.70 and a beta of 0.45.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Tuesday, June 30th. The company reported $2.41 earnings per share for the quarter. Novartis had a net margin of 23.29% and a return on equity of 38.56%. The firm had revenue of $14.95 billion during the quarter. As a group, analysts expect that Novartis AG will post 8.85 EPS for the current fiscal year.

Novartis Profile

Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.

The company’s activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.