Novartis AG (NVS) Position Increased by Howland Capital Management LLC
Howland Capital Management LLC boosted its stake in shares of Novartis AG (NYSE:NVS) by 3.0% during the second quarter, Holdings Channel reports. The firm owned 161,746 shares of the company’s stock after buying an additional 4,706 shares during the period. Howland Capital Management LLC’s holdings in Novartis AG were worth $13,501,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. Parnassus Investments CA increased its position in Novartis AG by 89.4% in the first quarter. Parnassus Investments CA now owns 8,173,974 shares of the company’s stock worth $593,720,000 after buying an additional 3,858,632 shares during the period. BlackRock Inc. bought a new position in Novartis AG during the first quarter worth $210,378,000. Janus Capital Management LLC increased its position in Novartis AG by 34,406.2% in the first quarter. Janus Capital Management LLC now owns 1,759,816 shares of the company’s stock worth $130,696,000 after buying an additional 1,754,716 shares during the period. Wells Fargo & Company MN increased its position in Novartis AG by 12.2% in the first quarter. Wells Fargo & Company MN now owns 9,100,801 shares of the company’s stock worth $675,917,000 after buying an additional 988,301 shares during the period. Finally, Karp Capital Management Corp bought a new position in Novartis AG during the first quarter worth $51,745,000. 11.27% of the stock is currently owned by institutional investors and hedge funds.
Novartis AG (NVS) traded up 0.20% during trading on Friday, reaching $83.35. 1,363,885 shares of the company’s stock traded hands. Novartis AG has a 12 month low of $66.93 and a 12 month high of $86.90. The firm has a 50 day moving average price of $84.17 and a 200-day moving average price of $78.68. The firm has a market cap of $195.28 billion, a PE ratio of 30.43 and a beta of 0.73.
Novartis AG (NYSE:NVS) last issued its quarterly earnings results on Tuesday, July 18th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.06. The firm had revenue of $12.24 billion for the quarter, compared to analyst estimates of $12.20 billion. Novartis AG had a net margin of 13.52% and a return on equity of 15.51%. The company’s revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.23 EPS. On average, analysts forecast that Novartis AG will post $4.73 earnings per share for the current fiscal year.
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A number of equities analysts have recently weighed in on NVS shares. Zacks Investment Research downgraded shares of Novartis AG from a “hold” rating to a “sell” rating in a research note on Monday, July 10th. Credit Suisse Group downgraded shares of Novartis AG from a “neutral” rating to an “underperform” rating and set a $82.25 price target on the stock. in a research note on Wednesday, July 5th. Morgan Stanley raised shares of Novartis AG from an “underweight” rating to an “overweight” rating in a research note on Wednesday, July 26th. Leerink Swann reaffirmed a “market perform” rating and issued a $83.00 price target on shares of Novartis AG in a research note on Thursday, June 22nd. Finally, J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Novartis AG in a research note on Tuesday, April 18th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $83.56.
In related news, major shareholder Bioventures Ltd Novartis purchased 266,667 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The shares were acquired at an average price of $15.00 per share, for a total transaction of $4,000,005.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.01% of the stock is currently owned by corporate insiders.
Novartis AG Company Profile
Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.
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