Baldwin Investment Management LLC acquired a new position in shares of Novartis AG (NYSE:NVS) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,086 shares of the company’s stock, valued at approximately $201,000.
A number of other large investors have also recently modified their holdings of NVS. BlackRock Inc. boosted its position in Novartis by 223.5% in the fourth quarter. BlackRock Inc. now owns 11,439,298 shares of the company’s stock valued at $981,607,000 after buying an additional 7,902,964 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Novartis by 25.1% during the fourth quarter. Bank of America Corp DE now owns 9,053,828 shares of the company’s stock worth $776,909,000 after purchasing an additional 1,817,005 shares during the period. Boston Partners lifted its holdings in shares of Novartis by 26.1% during the fourth quarter. Boston Partners now owns 7,046,794 shares of the company’s stock worth $604,685,000 after purchasing an additional 1,459,845 shares during the period. FMR LLC lifted its holdings in shares of Novartis by 441.6% during the fourth quarter. FMR LLC now owns 7,016,047 shares of the company’s stock worth $602,046,000 after purchasing an additional 5,720,650 shares during the period. Finally, Mawer Investment Management Ltd. lifted its holdings in shares of Novartis by 19.2% during the first quarter. Mawer Investment Management Ltd. now owns 5,680,653 shares of the company’s stock worth $546,138,000 after purchasing an additional 916,167 shares during the period. Institutional investors and hedge funds own 11.80% of the company’s stock.
Shares of NYSE:NVS traded down $1.17 during midday trading on Wednesday, hitting $91.20. 1,614,800 shares of the company’s stock were exchanged, compared to its average volume of 2,446,570. Novartis AG has a 12 month low of $63.60 and a 12 month high of $93.65. The stock has a market cap of $214.37 billion, a P/E ratio of 17.92, a PEG ratio of 2.22 and a beta of 0.56. The business’s 50 day moving average price is $86.58. The company has a current ratio of 0.93, a quick ratio of 0.83 and a debt-to-equity ratio of 0.48.
Novartis (NYSE:NVS) last released its quarterly earnings results on Wednesday, April 24th. The company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.10. The business had revenue of $11.11 billion for the quarter, compared to analysts’ expectations of $11.76 billion. Novartis had a net margin of 24.55% and a return on equity of 16.75%. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.28 earnings per share. Analysts expect that Novartis AG will post 5.01 EPS for the current fiscal year.
Several research firms recently issued reports on NVS. Morgan Stanley lowered shares of Novartis from an “equal weight” rating to an “underweight” rating and boosted their target price for the company from $82.50 to $82.52 in a report on Wednesday, April 10th. Zacks Investment Research lowered shares of Novartis from a “hold” rating to a “strong sell” rating in a report on Thursday, April 11th. Guggenheim upgraded shares of Novartis from a “neutral” rating to a “buy” rating and set a $79.16 target price on the stock in a report on Wednesday, April 24th. Finally, Liberum Capital raised shares of Novartis from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. Five equities research analysts have rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $87.57.
Novartis Company Profile
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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