Novartis AG (NYSE:NVS) Shares Acquired by CAPROCK Group Inc.

CAPROCK Group Inc. boosted its holdings in Novartis AG (NYSE:NVSGet Rating) by 36.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,838 shares of the company’s stock after acquiring an additional 3,146 shares during the period. CAPROCK Group Inc.’s holdings in Novartis were worth $1,039,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NVS. Optimum Investment Advisors increased its stake in shares of Novartis by 10.9% during the 1st quarter. Optimum Investment Advisors now owns 1,126 shares of the company’s stock worth $99,000 after purchasing an additional 111 shares in the last quarter. LCM Capital Management Inc boosted its position in Novartis by 4.6% during the fourth quarter. LCM Capital Management Inc now owns 2,683 shares of the company’s stock worth $235,000 after acquiring an additional 118 shares during the last quarter. Mission Wealth Management LP boosted its position in Novartis by 1.7% during the fourth quarter. Mission Wealth Management LP now owns 7,520 shares of the company’s stock worth $658,000 after acquiring an additional 128 shares during the last quarter. O Brien Greene & Co. Inc boosted its position in Novartis by 2.3% during the fourth quarter. O Brien Greene & Co. Inc now owns 5,704 shares of the company’s stock worth $499,000 after acquiring an additional 130 shares during the last quarter. Finally, Hall Laurie J Trustee boosted its position in Novartis by 0.5% during the first quarter. Hall Laurie J Trustee now owns 25,847 shares of the company’s stock worth $2,268,000 after acquiring an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 9.40% of the company’s stock.

A number of analysts recently issued reports on the stock. Wolfe Research lowered shares of Novartis from an “outperform” rating to a “market perform” rating in a research report on Monday, May 9th. Barclays lifted their price target on shares of Novartis from CHF 80 to CHF 85 in a report on Thursday, April 14th. Credit Suisse Group lifted their price target on shares of Novartis from CHF 85 to CHF 88 in a report on Thursday, April 28th. upgraded shares of Novartis from a “hold” rating to a “buy” rating in a report on Thursday, April 14th. Finally, Morgan Stanley lifted their price target on shares of Novartis from CHF 90 to CHF 94 in a report on Friday, May 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $90.00.

Shares of NVS stock opened at $81.51 on Thursday. The company’s fifty day simple moving average is $87.63 and its 200-day simple moving average is $86.94. Novartis AG has a 52 week low of $79.09 and a 52 week high of $95.17. The company has a current ratio of 1.25, a quick ratio of 1.01 and a debt-to-equity ratio of 0.37. The company has a market cap of $180.35 billion, a PE ratio of 7.59, a P/E/G ratio of 2.37 and a beta of 0.51.

Novartis (NYSE:NVSGet Rating) last issued its earnings results on Tuesday, April 26th. The company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.02. Novartis had a net margin of 46.47% and a return on equity of 23.16%. The business had revenue of $12.53 billion for the quarter, compared to the consensus estimate of $12.61 billion. During the same quarter last year, the firm posted $1.52 EPS. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities research analysts expect that Novartis AG will post 6.1 EPS for the current fiscal year.

About Novartis (Get Rating)

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, dermatology, respiratory, cardiovascular, renal, and metabolism medicine products.

See Also

Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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