Novartis AG (NVS) Holdings Boosted by Norris Perne & French LLP MI

Norris Perne & French LLP MI grew its position in shares of Novartis AG (NYSE:NVS) by 2.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 135,157 shares of the company’s stock after buying an additional 3,135 shares during the quarter. Novartis accounts for 1.7% of Norris Perne & French LLP MI’s holdings, making the stock its 22nd biggest position. Norris Perne & French LLP MI’s holdings in Novartis were worth $12,994,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Truvestments Capital LLC bought a new stake in shares of Novartis in the 1st quarter worth approximately $25,000. Canton Hathaway LLC bought a new stake in shares of Novartis in the 1st quarter worth approximately $26,000. AlphaMark Advisors LLC bought a new stake in shares of Novartis in the 4th quarter worth approximately $30,000. Financial Gravity Wealth Inc. bought a new stake in shares of Novartis in the 1st quarter worth approximately $33,000. Finally, Laurel Wealth Advisors LLC bought a new stake in shares of Novartis in the 4th quarter worth approximately $35,000. 11.68% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts recently weighed in on NVS shares. JPMorgan Chase & Co. lowered shares of Novartis from a “neutral” rating to an “underweight” rating in a research note on Wednesday, January 2nd. Morgan Stanley lowered shares of Novartis from an “equal weight” rating to an “underweight” rating and lifted their price objective for the company from $82.50 to $82.52 in a research note on Wednesday, April 10th. Zacks Investment Research lowered shares of Novartis from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 11th. Guggenheim upgraded shares of Novartis from a “neutral” rating to a “buy” rating and set a $79.16 price objective for the company in a research note on Wednesday, April 24th. Finally, Liberum Capital upgraded shares of Novartis from a “hold” rating to a “buy” rating in a research note on Thursday. Five equities research analysts have rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $87.57.

Novartis stock traded down $0.36 during mid-day trading on Monday, reaching $80.93. The company’s stock had a trading volume of 36,692 shares, compared to its average volume of 3,736,291. Novartis AG has a 12-month low of $72.30 and a 12-month high of $96.31. The firm has a market capitalization of $186.88 billion, a price-to-earnings ratio of 15.93, a P/E/G ratio of 2.27 and a beta of 0.68. The company has a current ratio of 0.93, a quick ratio of 0.97 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 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.10. The firm had revenue of $11.11 billion during the quarter, compared to analyst estimates of $11.76 billion. Novartis had a net margin of 24.55% and a return on equity of 16.75%. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.28 EPS. On average, equities research analysts forecast that Novartis AG will post 4.95 EPS for the current year.

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About Novartis

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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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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