Crewe Advisors LLC increased its position in shares of Novartis AG (NYSE:NVS – Free Report) by 53.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,278 shares of the company’s stock after buying an additional 446 shares during the quarter. Crewe Advisors LLC’s holdings in Novartis were worth $118,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the company. Argent Advisors Inc. raised its position in Novartis by 3.1% in the first quarter. Argent Advisors Inc. now owns 3,303 shares of the company’s stock valued at $304,000 after purchasing an additional 100 shares during the period. Americana Partners LLC raised its position in Novartis by 0.7% in the first quarter. Americana Partners LLC now owns 14,826 shares of the company’s stock valued at $1,364,000 after purchasing an additional 100 shares during the period. Twin Lakes Capital Management LLC raised its position in Novartis by 2.7% in the first quarter. Twin Lakes Capital Management LLC now owns 3,892 shares of the company’s stock valued at $358,000 after purchasing an additional 103 shares during the period. S.A. Mason LLC raised its position in Novartis by 2.5% in the first quarter. S.A. Mason LLC now owns 4,240 shares of the company’s stock valued at $390,000 after purchasing an additional 104 shares during the period. Finally, Park Place Capital Corp raised its position in Novartis by 2.7% in the first quarter. Park Place Capital Corp now owns 4,055 shares of the company’s stock valued at $373,000 after purchasing an additional 106 shares during the period. Hedge funds and other institutional investors own 7.00% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on the company. StockNews.com assumed coverage on Novartis in a research note on Thursday, August 17th. They issued a “strong-buy” rating on the stock. HSBC began coverage on Novartis in a research note on Friday, July 14th. They issued a “buy” rating for the company. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $82.25.
Novartis Stock Down 0.5 %
Shares of NYSE NVS traded down $0.53 during midday trading on Wednesday, hitting $97.56. 496,539 shares of the company’s stock were exchanged, compared to its average volume of 1,905,156. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.05 and a quick ratio of 0.79. Novartis AG has a twelve month low of $74.09 and a twelve month high of $105.61. The company has a market cap of $206.79 billion, a PE ratio of 27.33, a P/E/G ratio of 1.60 and a beta of 0.54. The firm’s fifty day simple moving average is $101.47 and its 200-day simple moving average is $97.34.
Novartis (NYSE:NVS – Get Free Report) last issued its earnings results on Wednesday, July 19th. The company reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.15. The business had revenue of $13.62 billion for the quarter, compared to analyst estimates of $6.32 million. Novartis had a return on equity of 25.12% and a net margin of 14.76%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the company earned $1.56 EPS. Research analysts predict that Novartis AG will post 6.92 EPS for the current fiscal year.
Novartis Company Profile
Novartis AG is a holding company, which engages in the development, manufacture, and marketing of healthcare products. It operates through the following segments: Innovative Medicines, Sandoz, and Corporate. The Innovative Medicines segment researches, develops, manufactures, distributes and sells patented pharmaceuticals, and is composed of two business units: Novartis Oncology and Novartis Pharmaceuticals.
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