Kestra Private Wealth Services LLC Has $784,000 Stock Holdings in Novartis AG (NYSE:NVS)

Kestra Private Wealth Services LLC raised its holdings in Novartis AG (NYSE:NVSGet Rating) by 9.3% in the 1st quarter, HoldingsChannel reports. The fund owned 8,936 shares of the company’s stock after acquiring an additional 758 shares during the period. Kestra Private Wealth Services LLC’s holdings in Novartis were worth $784,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NVS. BNP Paribas Arbitrage SA increased its position in Novartis by 35.0% in the 4th quarter. BNP Paribas Arbitrage SA now owns 6,985 shares of the company’s stock valued at $611,000 after acquiring an additional 1,811 shares during the period. Bank of Montreal Can increased its position in Novartis by 34.9% in the 4th quarter. Bank of Montreal Can now owns 261,655 shares of the company’s stock valued at $22,901,000 after acquiring an additional 67,661 shares during the period. Sequoia Financial Advisors LLC increased its position in Novartis by 172.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 7,724 shares of the company’s stock valued at $676,000 after acquiring an additional 4,894 shares during the period. PEAK6 Investments LLC increased its position in Novartis by 7.0% in the 4th quarter. PEAK6 Investments LLC now owns 3,989 shares of the company’s stock valued at $349,000 after acquiring an additional 262 shares during the period. Finally, Epoch Investment Partners Inc. acquired a new stake in shares of Novartis during the fourth quarter worth $287,000. 9.14% of the stock is currently owned by institutional investors and hedge funds.

Novartis Stock Down 0.1 %

Novartis stock opened at $80.65 on Friday. Novartis AG has a 1-year low of $79.09 and a 1-year high of $94.26. The firm has a market capitalization of $178.45 billion, a price-to-earnings ratio of 7.88, a price-to-earnings-growth ratio of 2.28 and a beta of 0.53. The firm’s fifty day moving average price is $83.89 and its two-hundred day moving average price is $85.90. The company has a current ratio of 1.38, a quick ratio of 1.13 and a debt-to-equity ratio of 0.35.

Novartis (NYSE:NVSGet Rating) last released its quarterly earnings data on Monday, July 18th. The company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.04. Novartis had a net margin of 44.31% and a return on equity of 21.88%. The firm had revenue of $12.78 billion for the quarter, compared to analyst estimates of $12.78 billion. During the same period last year, the firm earned $1.64 earnings per share. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. On average, equities research analysts predict that Novartis AG will post 6.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NVS shares. Berenberg Bank cut shares of Novartis from a “buy” rating to a “hold” rating in a research report on Wednesday. Oppenheimer cut shares of Novartis from an “outperform” rating to a “market perform” rating in a research report on Friday, June 3rd. Morgan Stanley decreased their price objective on shares of Novartis from CHF 97 to CHF 88 in a research report on Thursday, September 8th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Novartis from CHF 80 to CHF 75 in a research report on Wednesday, June 29th. Finally, Credit Suisse Group cut shares of Novartis from a “neutral” rating to an “underperform” rating in a research report on Thursday. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $87.00.

Novartis Company Profile

(Get Rating)

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company operates through two segments, Innovative Medicines and Sandoz. The Innovative Medicines segment offers prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology, dermatology, respiratory, cardiovascular, renal, and metabolism medicine products.

Read More

Want to see what other hedge funds are holding NVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Novartis AG (NYSE:NVSGet Rating).

Institutional Ownership by Quarter for Novartis (NYSE:NVS)

Receive News & Ratings for Novartis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novartis and related companies with MarketBeat.com's FREE daily email newsletter.