Evergreen Capital Management LLC raised its position in Novartis AG (NYSE:NVS) by 2.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,989 shares of the company’s stock after buying an additional 280 shares during the period. Evergreen Capital Management LLC’s holdings in Novartis were worth $960,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of Novartis by 223.5% during the 4th 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 during the period. Bank of America Corp DE raised its position in Novartis by 25.1% in the fourth quarter. Bank of America Corp DE now owns 9,053,828 shares of the company’s stock valued at $776,909,000 after purchasing an additional 1,817,005 shares during the period. Boston Partners raised its position in Novartis by 26.1% in the fourth quarter. Boston Partners now owns 7,046,794 shares of the company’s stock valued at $604,685,000 after purchasing an additional 1,459,845 shares during the period. FMR LLC raised its position in Novartis by 441.6% in the fourth quarter. FMR LLC now owns 7,016,047 shares of the company’s stock valued at $602,046,000 after purchasing an additional 5,720,650 shares during the period. Finally, Mawer Investment Management Ltd. raised its position in Novartis by 19.2% in the first quarter. Mawer Investment Management Ltd. now owns 5,680,653 shares of the company’s stock valued at $546,138,000 after purchasing an additional 916,167 shares during the period. Institutional investors own 11.80% of the company’s stock.
A number of brokerages have issued reports on NVS. Liberum Capital raised Novartis from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. Zacks Investment Research lowered Novartis from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 11th. Guggenheim raised Novartis from a “neutral” rating to a “buy” rating and set a $79.16 price objective on the stock in a research report on Wednesday, April 24th. Finally, Morgan Stanley lowered Novartis from an “equal weight” rating to an “underweight” rating and upped their price objective for the stock from $82.50 to $82.52 in a research report on Wednesday, April 10th. Five equities research analysts have rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $87.57.
Shares of NVS traded down $1.17 during midday trading on Wednesday, hitting $91.20. The company had a trading volume of 1,614,800 shares, compared to its average volume of 2,446,569. The firm has a 50 day moving average price of $86.79. The stock has a market cap of $214.37 billion, a PE ratio of 17.92, a price-to-earnings-growth ratio of 2.22 and a beta of 0.56. Novartis AG has a 52 week low of $63.60 and a 52 week high of $93.65. 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 data on Wednesday, April 24th. The company reported $1.21 EPS for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.10. Novartis had a net margin of 24.55% and a return on equity of 16.75%. The firm had revenue of $11.11 billion during the quarter, compared to analysts’ expectations of $11.76 billion. During the same period in the previous year, the business posted $1.28 earnings per share. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, research analysts predict that Novartis AG will post 5.01 EPS for the current fiscal 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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