Novartis AG (NYSE:NVS) Shares Bought by Jacobi Capital Management LLC

Jacobi Capital Management LLC grew its stake in shares of Novartis AG (NYSE:NVS – Get Rating) by 7.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 5,429 shares of the company’s stock after acquiring an additional 359 shares during the period. Jacobi Capital Management LLC’s holdings in Novartis were worth $476,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of NVS. Mount Yale Investment Advisors LLC raised its stake in Novartis by 30.2% during the 1st quarter. Mount Yale Investment Advisors LLC now owns 15,538 shares of the company’s stock valued at $1,363,000 after purchasing an additional 3,606 shares during the period. National Asset Management Inc. raised its stake in Novartis by 3.5% during the 1st quarter. National Asset Management Inc. now owns 21,166 shares of the company’s stock valued at $1,859,000 after purchasing an additional 717 shares during the period. FRG Family Wealth Advisors LLC acquired a new stake in Novartis during the 4th quarter valued at $899,000. Cambridge Investment Research Advisors Inc. raised its stake in Novartis by 8.3% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 54,346 shares of the company’s stock valued at $4,754,000 after purchasing an additional 4,162 shares during the period. Finally, Resources Investment Advisors LLC. raised its stake in Novartis by 3.2% during the 1st quarter. Resources Investment Advisors LLC. now owns 4,367 shares of the company’s stock valued at $383,000 after purchasing an additional 137 shares during the period. Institutional investors and hedge funds own 9.40% of the company’s stock.

Novartis Stock Up 0.4 %

NVS stock opened at $85.57 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.38 and a quick ratio of 1.13. The company has a 50-day moving average of $85.04 and a two-hundred day moving average of $86.61. Novartis AG has a 52-week low of $79.09 and a 52-week high of $95.17. The stock has a market capitalization of $189.33 billion, a price-to-earnings ratio of 8.36, a price-to-earnings-growth ratio of 2.41 and a beta of 0.51.

Novartis (NYSE:NVS – Get Rating) last released its earnings results on Monday, July 18th. The company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.04. Novartis had a net margin of 44.31% and a return on equity of 21.88%. The business had revenue of $12.78 billion during the quarter, compared to analysts’ expectations of $12.78 billion. During the same quarter last year, the company earned $1.64 earnings per share. The firm’s revenue was down 1.4% on a year-over-year basis. As a group, equities research analysts anticipate that Novartis AG will post 6.06 EPS for the current year.

Wall Street Analyst Weigh In

NVS has been the topic of several recent analyst reports. Credit Suisse Group boosted their target price on shares of Novartis from CHF 85 to CHF 88 in a research note on Thursday, April 28th. Oppenheimer downgraded shares of Novartis from an “outperform” rating to a “market perform” rating in a research note on Friday, June 3rd. Morgan Stanley upped their price target on shares of Novartis from CHF 90 to CHF 94 in a research note on Friday, May 6th. Wolfe Research downgraded shares of Novartis from an “outperform” rating to a “market perform” rating in a research note on Monday, May 9th. Finally, UBS Group upped their price target on shares of Novartis from CHF 85 to CHF 88 and gave the stock a “neutral” rating in a research note on Wednesday, April 27th. 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. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $87.33.

Novartis Company Profile

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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.