Cookson Peirce & Co. Inc. decreased its position in shares of Novartis AG (NYSE:NVS) by 2.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,756 shares of the company’s stock after selling 197 shares during the period. Cookson Peirce & Co. Inc.’s holdings in Novartis were worth $590,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Advisory Alpha LLC purchased a new position in Novartis in the first quarter worth about $26,000. Creative Financial Designs Inc. ADV increased its position in shares of Novartis by 262.0% during the second quarter. Creative Financial Designs Inc. ADV now owns 333 shares of the company’s stock worth $29,000 after acquiring an additional 241 shares during the period. Proffitt & Goodson Inc. bought a new stake in Novartis during the 2nd quarter valued at $33,000. Weaver Consulting Group lifted its stake in Novartis by 46.4% in the second quarter. Weaver Consulting Group now owns 410 shares of the company’s stock worth $36,000 after acquiring an additional 130 shares during the period. Finally, Hoover Financial Advisors Inc. bought a new position in shares of Novartis during the second quarter valued at approximately $40,000. 10.80% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NVS stock traded up $1.38 during trading hours on Thursday, hitting $86.85. The company’s stock had a trading volume of 29,200 shares, compared to its average volume of 1,831,566. The company has a current ratio of 0.81, a quick ratio of 0.58 and a debt-to-equity ratio of 0.48. The business has a fifty day moving average of $85.51 and a 200-day moving average of $86.37. The stock has a market cap of $195.98 billion, a price-to-earnings ratio of 27.39, a P/E/G ratio of 1.84 and a beta of 0.46. Novartis AG has a twelve month low of $69.18 and a twelve month high of $99.84.
Novartis (NYSE:NVS) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.05. The firm had revenue of $11.35 billion for the quarter, compared to analyst estimates of $11.77 billion. Novartis had a return on equity of 24.14% and a net margin of 14.96%. The firm’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period last year, the company earned $1.34 EPS. On average, equities analysts expect that Novartis AG will post 5.72 EPS for the current fiscal year.
Several brokerages recently issued reports on NVS. UBS Group reaffirmed a “neutral” rating on shares of Novartis in a research report on Monday, May 11th. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Novartis in a research note on Wednesday, August 12th. Citigroup raised Novartis from a “neutral” rating to a “buy” rating in a report on Monday, June 15th. Morgan Stanley reissued an “equal weight” rating on shares of Novartis in a research note on Tuesday, July 28th. Finally, ValuEngine cut Novartis from a “hold” rating to a “sell” rating in a report on Friday, June 5th. Three analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $108.00.
Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.
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