Moors & Cabot Inc. boosted its holdings in shares of Novartis AG (NYSE:NVS) by 1.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,317 shares of the company’s stock after acquiring an additional 462 shares during the period. Moors & Cabot Inc.’s holdings in Novartis were worth $2,766,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in NVS. Allworth Financial LP grew its holdings in Novartis by 76.0% in the second quarter. Allworth Financial LP now owns 403 shares of the company’s stock valued at $37,000 after purchasing an additional 174 shares during the period. RMR Wealth Builders lifted its position in shares of Novartis by 222.7% during the first quarter. RMR Wealth Builders now owns 455 shares of the company’s stock worth $39,000 after purchasing an additional 314 shares in the last quarter. Anfield Capital Management LLC acquired a new position in shares of Novartis during the second quarter worth $42,000. Certified Advisory Corp acquired a new stake in Novartis in the first quarter valued at $43,000. Finally, KB Financial Partners LLC acquired a new stake in Novartis in the first quarter valued at $47,000. Institutional investors own 9.90% of the company’s stock.
A number of analysts have weighed in on the stock. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Novartis in a report on Wednesday, July 28th. Zacks Investment Research downgraded shares of Novartis from a “hold” rating to a “sell” rating and set a $96.00 price target for the company. in a report on Monday, July 26th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Novartis from a “buy” rating to a “hold” rating in a report on Thursday, July 22nd. Three analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Novartis presently has an average rating of “Hold” and a consensus target price of $104.33.
Novartis (NYSE:NVS) last announced its quarterly earnings data on Tuesday, July 20th. The company reported $1.66 EPS for the quarter, topping the Zacks’ consensus estimate of $1.52 by $0.14. The firm had revenue of $12.96 billion during the quarter, compared to analyst estimates of $12.41 billion. Novartis had a return on equity of 25.25% and a net margin of 17.83%. The company’s revenue was up 14.2% on a year-over-year basis. During the same period last year, the company earned $1.36 earnings per share. On average, analysts anticipate that Novartis AG will post 6.28 EPS for the current fiscal year.
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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