Dearborn Partners LLC boosted its stake in shares of Novartis AG (NYSE:NVS) by 5.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 390,456 shares of the company’s stock after purchasing an additional 18,943 shares during the quarter. Novartis AG accounts for approximately 2.4% of Dearborn Partners LLC’s holdings, making the stock its 6th biggest position. Dearborn Partners LLC’s holdings in Novartis AG were worth $32,591,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the stock. Farr Miller & Washington LLC DC grew its holdings in shares of Novartis AG by 0.3% in the 2nd quarter. Farr Miller & Washington LLC DC now owns 2,959 shares of the company’s stock worth $247,000 after purchasing an additional 10 shares during the last quarter. Washington Trust Bank grew its holdings in Novartis AG by 0.3% during the 2nd quarter. Washington Trust Bank now owns 4,384 shares of the company’s stock worth $366,000 after acquiring an additional 14 shares during the last quarter. North Star Investment Management Corp. grew its holdings in Novartis AG by 1.0% during the 2nd quarter. North Star Investment Management Corp. now owns 1,542 shares of the company’s stock worth $129,000 after acquiring an additional 16 shares during the last quarter. Ledyard National Bank grew its holdings in Novartis AG by 0.9% during the 2nd quarter. Ledyard National Bank now owns 3,428 shares of the company’s stock worth $286,000 after acquiring an additional 30 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its holdings in Novartis AG by 0.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 4,492 shares of the company’s stock worth $375,000 after acquiring an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 10.98% of the company’s stock.
In other Novartis AG news, major shareholder Bioventures Ltd Novartis purchased 266,667 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The stock was purchased at an average price of $15.00 per share, for a total transaction of $4,000,005.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.01% of the stock is currently owned by insiders.
A number of equities research analysts have commented on the stock. Leerink Swann reissued a “market perform” rating and set a $83.00 price objective on shares of Novartis AG in a report on Thursday, June 22nd. BidaskClub downgraded shares of Novartis AG from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Morgan Stanley upgraded shares of Novartis AG from an “underweight” rating to an “overweight” rating in a research report on Wednesday, July 26th. Cowen and Company set a $90.00 price target on shares of Novartis AG and gave the company a “hold” rating in a research report on Wednesday, August 9th. Finally, J P Morgan Chase & Co restated a “neutral” rating on shares of Novartis AG in a report on Tuesday, September 5th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $83.56.
Novartis AG (NVS) opened at 85.63 on Monday. The firm’s 50 day moving average price is $84.13 and its 200-day moving average price is $80.00. The company has a market capitalization of $200.62 billion, a PE ratio of 31.26 and a beta of 0.74. Novartis AG has a 12-month low of $66.93 and a 12-month high of $86.90.
Novartis AG (NYSE:NVS) last released its quarterly earnings results on Tuesday, July 18th. The company reported $1.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.06. Novartis AG had a return on equity of 15.51% and a net margin of 13.52%. The company had revenue of $12.24 billion for the quarter, compared to analyst estimates of $12.20 billion. During the same period in the previous year, the company posted $1.23 earnings per share. The firm’s revenue was down 1.8% on a year-over-year basis. On average, equities analysts anticipate that Novartis AG will post $4.75 earnings per share for the current fiscal year.
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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