FNY Investment Advisers LLC acquired a new stake in Novartis AG (NYSE:NVS) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 13,340 shares of the company’s stock, valued at approximately $1,282,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of NVS. Truvestments Capital LLC bought a new stake in Novartis in the 1st quarter valued at about $25,000. Canton Hathaway LLC bought a new stake in shares of Novartis during the 1st quarter worth approximately $26,000. AlphaMark Advisors LLC bought a new stake in shares of Novartis during the 4th quarter worth approximately $30,000. Laurel Wealth Advisors LLC bought a new stake in shares of Novartis during the 4th quarter worth approximately $35,000. Finally, Executive Wealth Management LLC bought a new stake in shares of Novartis during the 4th quarter worth approximately $36,000. 11.72% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently weighed in on NVS. Liberum Capital raised shares of Novartis from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. Zacks Investment Research downgraded shares of Novartis from a “hold” rating to a “strong sell” rating in a report on Thursday, April 11th. Guggenheim raised shares of Novartis from a “neutral” rating to a “buy” rating and set a $79.16 price target for the company in a report on Wednesday, April 24th. Morgan Stanley downgraded shares of Novartis from an “equal weight” rating to an “underweight” rating and upped their price target for the stock from $82.50 to $82.52 in a report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of Novartis in a report on Tuesday, January 29th. Five investment analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Novartis currently has an average rating of “Hold” and a consensus price target of $87.57.
Novartis (NYSE:NVS) last released its quarterly earnings data on Wednesday, April 24th. The company reported $1.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.10. The business had revenue of $11.11 billion during the quarter, compared to analysts’ expectations of $11.76 billion. Novartis had a net margin of 24.55% and a return on equity of 16.75%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.28 EPS. As a group, research analysts expect that Novartis AG will post 4.95 earnings per share for the current fiscal year.
Novartis Company Profile
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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