Beacon Financial Group lowered its stake in Novartis AG (NYSE:NVS) by 4.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,670 shares of the company’s stock after selling 1,283 shares during the quarter. Beacon Financial Group’s holdings in Novartis were worth $2,241,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Winthrop Partners WNY LLC acquired a new position in shares of Novartis in the first quarter valued at approximately $100,000. Gables Capital Management Inc. acquired a new position in shares of Novartis in the first quarter valued at approximately $103,000. Archford Capital Strategies LLC acquired a new position in shares of Novartis in the first quarter valued at approximately $149,000. Private Capital Group LLC increased its stake in shares of Novartis by 410.8% in the first quarter. Private Capital Group LLC now owns 2,467 shares of the company’s stock valued at $204,000 after buying an additional 1,984 shares during the period. Finally, Rehmann Capital Advisory Group acquired a new position in shares of Novartis in the fourth quarter valued at approximately $211,000. 10.91% of the stock is owned by hedge funds and other institutional investors.
Get Novartis alerts:NVS has been the subject of several recent research reports. Deutsche Bank reaffirmed a “neutral” rating on shares of Novartis in a research note on Tuesday, April 10th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Novartis in a research note on Monday, April 9th. Zacks Investment Research downgraded Novartis from a “hold” rating to a “sell” rating in a research note on Thursday, June 7th. HSBC downgraded Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, May 29th. Finally, ValuEngine downgraded Novartis from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $92.33.
NYSE:NVS traded down $0.94 on Wednesday, reaching $76.35. 1,728,921 shares of the stock traded hands, compared to its average volume of 1,697,902. The company has a market capitalization of $179.60 billion, a PE ratio of 15.87, a P/E/G ratio of 1.66 and a beta of 0.75. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.17. Novartis AG has a 1-year low of $72.30 and a 1-year high of $94.19.
Novartis (NYSE:NVS) last released its earnings results on Thursday, April 19th. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.03. The business had revenue of $12.69 billion during the quarter, compared to the consensus estimate of $12.45 billion. Novartis had a net margin of 16.04% and a return on equity of 16.23%. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.13 EPS. research analysts predict that Novartis AG will post 5.22 EPS for the current year.
In other news, major shareholder Institutes For Biomed Novartis bought 766,666 shares of the firm’s stock in a transaction on Monday, April 23rd. The stock was acquired at an average price of $15.00 per share, with a total value of $11,499,990.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.01% of the company’s stock.
Novartis Company Profile
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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