Riverhead Capital Management LLC Boosts Stake in Novartis AG (NVS)
Riverhead Capital Management LLC raised its stake in Novartis AG (NYSE:NVS) by 691.2% during the third quarter, according to its most recent filing with the SEC. The fund owned 9,400 shares of the company’s stock after buying an additional 8,212 shares during the period. Riverhead Capital Management LLC’s holdings in Novartis AG were worth $742,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in NVS. WFG Advisors LP boosted its stake in shares of Novartis AG by 8.9% in the second quarter. WFG Advisors LP now owns 1,624 shares of the company’s stock valued at $134,000 after buying an additional 133 shares in the last quarter. First PREMIER Bank boosted its stake in shares of Novartis AG by 65.7% in the third quarter. First PREMIER Bank now owns 1,955 shares of the company’s stock valued at $154,000 after buying an additional 775 shares in the last quarter. Integrated Wealth Counsel LLC boosted its stake in shares of Novartis AG by 13.8% in the third quarter. Integrated Wealth Counsel LLC now owns 1,998 shares of the company’s stock valued at $158,000 after buying an additional 242 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Novartis AG by 33.9% in the second quarter. Quadrant Capital Group LLC now owns 2,357 shares of the company’s stock valued at $186,000 after buying an additional 597 shares in the last quarter. Finally, Peddock Capital Advisors LLC acquired a new stake in shares of Novartis AG during the third quarter valued at $188,000. Institutional investors own 9.84% of the company’s stock.
Shares of Novartis AG (NYSE:NVS) traded down 0.54% during mid-day trading on Friday, hitting $72.40. 6,149,958 shares of the stock were exchanged. Novartis AG has a 12 month low of $66.93 and a 12 month high of $83.58. The stock has a market cap of $171.99 billion, a price-to-earnings ratio of 25.53 and a beta of 0.68. The company has a 50-day moving average price of $71.10 and a 200-day moving average price of $76.75.
Novartis AG (NYSE:NVS) last announced its quarterly earnings data on Tuesday, October 25th. The company reported $1.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.04. Novartis AG had a return on equity of 15.25% and a net margin of 13.98%. The firm had revenue of $12.13 billion for the quarter, compared to analyst estimates of $12.24 billion. During the same quarter in the prior year, the company posted $1.27 earnings per share. Novartis AG’s quarterly revenue was down 1.1% on a year-over-year basis. Equities analysts expect that Novartis AG will post $4.72 earnings per share for the current year.
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NVS has been the topic of several research reports. J P Morgan Chase & Co restated a “buy” rating on shares of Novartis AG in a research report on Tuesday, December 13th. Argus upgraded shares of Novartis AG from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a research report on Thursday, November 10th. Jefferies Group restated a “buy” rating on shares of Novartis AG in a research report on Sunday, October 16th. Chardan Capital cut their price objective on shares of Novartis AG from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Monday, October 10th. Finally, Zacks Investment Research upgraded shares of Novartis AG from a “sell” rating to a “hold” rating in a research report on Tuesday, December 20th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $85.18.
Novartis AG Company Profile
Novartis AG is a holding company. The Company specializes in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals, including eye care products. Its portfolio includes medicines, eye care and generic pharmaceuticals. The Company’s segments include Pharmaceuticals, Alcon and Sandoz.
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