CORDA Investment Management LLC. increased its position in Novartis AG (NYSE:NVS) by 0.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 163,670 shares of the company’s stock after purchasing an additional 540 shares during the period. CORDA Investment Management LLC.’s holdings in Novartis were worth $13,990,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Phoenix Wealth Advisors acquired a new position in Novartis in the fourth quarter worth about $27,000. Regent Peak Wealth Advisors LLC acquired a new position in Novartis in the fourth quarter worth about $34,000. Meeder Asset Management Inc. lifted its holdings in Novartis by 309.7% in the first quarter. Meeder Asset Management Inc. now owns 422 shares of the company’s stock worth $36,000 after acquiring an additional 319 shares during the last quarter. Better Money Decisions LLC bought a new position in Novartis in the first quarter worth about $39,000. Finally, Northwest Investment Counselors LLC bought a new position in Novartis in the first quarter worth about $41,000. Institutional investors and hedge funds own 10.11% of the company’s stock.
Shares of NVS traded down $0.51 during mid-day trading on Friday, reaching $92.99. 27,351 shares of the company’s stock traded hands, compared to its average volume of 1,980,951. The firm’s 50-day simple moving average is $87.96. The company has a market cap of $212.83 billion, a PE ratio of 26.70, a P/E/G ratio of 2.18 and a beta of 0.54. The company has a quick ratio of 0.50, a current ratio of 0.74 and a debt-to-equity ratio of 0.51. Novartis AG has a 12 month low of $77.04 and a 12 month high of $98.52.
NVS has been the topic of a number of recent research reports. Sanford C. Bernstein initiated coverage on shares of Novartis in a report on Monday, March 22nd. They issued a “market perform” rating on the stock. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Novartis in a report on Wednesday, April 28th. Morgan Stanley reissued an “overweight” rating on shares of Novartis in a report on Tuesday, May 11th. Societe Generale reissued a “buy” rating on shares of Novartis in a report on Tuesday, March 23rd. Finally, UBS Group reissued a “buy” rating on shares of Novartis in a report on Monday, April 19th. Two analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $108.50.
Novartis Company Profile
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 and dermatology, respiratory, established, and cardiovascular, renal and metabolism medicine products.
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