Radnor Capital Management LLC continued to hold its stake in shares of Novartis AG (NYSE:NVS) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,725 shares of the company’s stock at the end of the second quarter. Radnor Capital Management LLC’s holdings in Novartis AG were worth $895,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. City Holding Co. lifted its holdings in shares of Novartis AG by 4.6% during the 2nd quarter. City Holding Co. now owns 1,217 shares of the company’s stock valued at $102,000 after purchasing an additional 54 shares during the last quarter. TCI Wealth Advisors Inc. raised its stake in Novartis AG by 20.0% in the 1st quarter. TCI Wealth Advisors Inc. now owns 1,381 shares of the company’s stock worth $103,000 after acquiring an additional 230 shares during the last quarter. Archford Capital Strategies LLC raised its stake in Novartis AG by 72.3% in the 1st quarter. Archford Capital Strategies LLC now owns 1,480 shares of the company’s stock worth $110,000 after acquiring an additional 621 shares during the last quarter. Kernodle & Katon Asset Management Group LLC raised its stake in Novartis AG by 3.4% in the 1st quarter. Kernodle & Katon Asset Management Group LLC now owns 1,488 shares of the company’s stock worth $111,000 after acquiring an additional 49 shares during the last quarter. Finally, North Star Investment Management Corp. raised its stake in shares of Novartis AG by 50.3% during the 1st quarter. North Star Investment Management Corp. now owns 1,526 shares of the company’s stock valued at $113,000 after buying an additional 511 shares during the last quarter. 10.98% of the stock is currently owned by institutional investors and hedge funds.
NVS has been the subject of a number of recent research reports. TheStreet upgraded Novartis AG from a “c+” rating to a “b” rating in a research note on Friday, June 2nd. Barclays PLC upgraded Novartis AG from an “underweight” rating to an “equal weight” rating in a research report on Thursday, June 22nd. Cowen and Company set a $77.00 target price on Novartis AG and gave the company a “hold” rating in a research report on Tuesday, July 11th. BidaskClub upgraded Novartis AG from a “sell” rating to a “hold” rating in a research report on Saturday, August 5th. Finally, Leerink Swann reiterated a “market perform” rating and issued a $83.00 price objective on shares of Novartis AG in a report on Thursday, June 22nd. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. Novartis AG currently has a consensus rating of “Hold” and a consensus price target of $83.56.
Shares of Novartis AG (NYSE:NVS) traded down 0.42% during mid-day trading on Friday, reaching $85.47. The company’s stock had a trading volume of 459,029 shares. The firm’s 50 day moving average price is $84.26 and its 200-day moving average price is $80.24. The company has a market capitalization of $200.25 billion, a price-to-earnings ratio of 31.20 and a beta of 0.74. Novartis AG has a 1-year low of $66.93 and a 1-year high of $86.90.
Novartis AG (NYSE:NVS) last posted its earnings results on Tuesday, July 18th. The company reported $1.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.06. Novartis AG had a net margin of 13.52% and a return on equity of 15.51%. The business had revenue of $12.24 billion for the quarter, compared to analyst estimates of $12.20 billion. During the same quarter in the prior year, the firm earned $1.23 EPS. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. On average, analysts predict that Novartis AG will post $4.75 EPS for the current year.
In related news, major shareholder Bioventures Ltd Novartis acquired 266,667 shares of the firm’s stock in a transaction on Wednesday, July 5th. The shares were purchased at an average price of $15.00 per share, with a total value of $4,000,005.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.01% of the stock is owned by corporate insiders.
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Novartis AG Profile
Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.
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