Wedmont Private Capital increased its stake in shares of Novartis AG (NYSE:NVS – Free Report) by 2.6% in the fourth quarter, HoldingsChannel reports. The firm owned 6,348 shares of the company’s stock after buying an additional 158 shares during the quarter. Wedmont Private Capital’s holdings in Novartis were worth $629,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its stake in shares of Novartis by 1.3% during the second quarter. Rhumbline Advisers now owns 37,810 shares of the company’s stock valued at $4,025,000 after buying an additional 499 shares during the period. Thoroughbred Financial Services LLC raised its holdings in Novartis by 76.0% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 4,719 shares of the company’s stock valued at $502,000 after acquiring an additional 2,038 shares during the last quarter. Brown Brothers Harriman & Co. raised its holdings in Novartis by 16.3% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 55,920 shares of the company’s stock valued at $5,953,000 after acquiring an additional 7,823 shares during the last quarter. Wulff Hansen & CO. lifted its stake in shares of Novartis by 10,528.6% during the 2nd quarter. Wulff Hansen & CO. now owns 324,171 shares of the company’s stock worth $34,511,000 after purchasing an additional 321,121 shares during the period. Finally, Financial & Tax Architects LLC boosted its holdings in shares of Novartis by 32.8% during the second quarter. Financial & Tax Architects LLC now owns 4,703 shares of the company’s stock worth $501,000 after purchasing an additional 1,161 shares during the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on NVS shares. BMO Capital Markets upped their target price on Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Erste Group Bank reaffirmed a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. Finally, HSBC cut shares of Novartis from a “hold” rating to a “reduce” rating in a research report on Wednesday, December 4th. Two equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat.com, Novartis has an average rating of “Hold” and a consensus price target of $121.50.
Novartis Stock Up 0.1 %
NVS opened at $99.34 on Wednesday. Novartis AG has a 1 year low of $92.35 and a 1 year high of $120.92. The firm has a 50 day moving average price of $101.13 and a 200 day moving average price of $109.19. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.90 and a current ratio of 1.11. The company has a market cap of $203.05 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 1.49 and a beta of 0.57.
Novartis (NYSE:NVS – Get Free Report) last issued its earnings results on Tuesday, October 29th. The company reported $2.06 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.12. Novartis had a net margin of 35.96% and a return on equity of 34.80%. The business had revenue of $12.82 billion for the quarter, compared to the consensus estimate of $12.62 billion. During the same quarter last year, the firm posted $1.74 EPS. Sell-side analysts expect that Novartis AG will post 7.65 earnings per share for the current year.
About Novartis
Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.
Further Reading
- Five stocks we like better than Novartis
- How to Use the MarketBeat Dividend Calculator
- The Fed Is More Likely to Hike Than Cut Rates in 2025
- Election Stocks: How Elections Affect the Stock Market
- Investors Navigate Uncertainty by Seeking Refuge in Gold and Oil
- Retail Stocks Investing, Explained
- Archer Aviation Shares Slide, Now Bargain Priced for 2025
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:NVS – Free Report).
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.