Next Capital Management LLC Grows Stock Position in Novartis AG (NYSE:NVS)

Next Capital Management LLC increased its position in shares of Novartis AG (NYSE:NVS) by 65.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,655 shares of the company’s stock after buying an additional 655 shares during the quarter. Next Capital Management LLC’s holdings in Novartis were worth $151,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Comerica Securities Inc. purchased a new stake in shares of Novartis in the 4th quarter valued at about $570,000. Dimensional Fund Advisors LP raised its holdings in shares of Novartis by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,289,427 shares of the company’s stock valued at $196,456,000 after acquiring an additional 15,883 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Novartis by 12.3% in the 4th quarter. Geode Capital Management LLC now owns 45,933 shares of the company’s stock valued at $3,941,000 after acquiring an additional 5,027 shares in the last quarter. Truvestments Capital LLC purchased a new stake in shares of Novartis in the 1st quarter valued at about $25,000. Finally, DORCHESTER WEALTH MANAGEMENT Co purchased a new stake in shares of Novartis in the 1st quarter valued at about $223,000. 11.87% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE NVS traded up $0.89 during trading hours on Friday, reaching $89.47. 53,559 shares of the stock traded hands, compared to its average volume of 2,542,996. The company has a quick ratio of 0.74, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. The company’s 50-day simple moving average is $91.27 and its two-hundred day simple moving average is $88.58. The company has a market capitalization of $209.06 billion, a P/E ratio of 17.57, a price-to-earnings-growth ratio of 2.05 and a beta of 0.58. Novartis AG has a 52-week low of $71.40 and a 52-week high of $95.00.

Novartis (NYSE:NVS) last announced its quarterly earnings results on Thursday, July 18th. The company reported $1.34 EPS for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.14. The business had revenue of $11.76 billion for the quarter, compared to analysts’ expectations of $11.45 billion. Novartis had a return on equity of 18.55% and a net margin of 23.27%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.29 EPS. As a group, sell-side analysts forecast that Novartis AG will post 5.15 earnings per share for the current fiscal year.

Several analysts have weighed in on NVS shares. Liberum Capital raised Novartis from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. Zacks Investment Research cut Novartis from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a report on Friday, July 19th. Guggenheim raised Novartis from a “neutral” rating to a “buy” rating and set a $79.16 price objective on the stock in a report on Wednesday, April 24th. JPMorgan Chase & Co. reissued a “sell” rating on shares of Novartis in a report on Friday, July 5th. Finally, Kepler Capital Markets cut Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Novartis has an average rating of “Hold” and a consensus target price of $90.63.

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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