Regentatlantic Capital LLC Raises Position in Novartis AG (NYSE:NVS)

Regentatlantic Capital LLC raised its stake in Novartis AG (NYSE:NVS) by 69.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,276 shares of the company’s stock after purchasing an additional 18,071 shares during the quarter. Regentatlantic Capital LLC’s holdings in Novartis were worth $4,043,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of NVS. Wambolt & Associates LLC increased its position in shares of Novartis by 8.0% during the first quarter. Wambolt & Associates LLC now owns 8,256 shares of the company’s stock valued at $689,000 after acquiring an additional 609 shares during the last quarter. Crawford Investment Counsel Inc. grew its holdings in Novartis by 8.9% during the first quarter. Crawford Investment Counsel Inc. now owns 2,581 shares of the company’s stock valued at $248,000 after purchasing an additional 212 shares during the period. Penbrook Management LLC grew its holdings in Novartis by 18.2% during the second quarter. Penbrook Management LLC now owns 6,500 shares of the company’s stock valued at $594,000 after purchasing an additional 1,000 shares during the period. Burns J W & Co. Inc. NY grew its holdings in Novartis by 1.3% during the second quarter. Burns J W & Co. Inc. NY now owns 15,731 shares of the company’s stock valued at $1,436,000 after purchasing an additional 200 shares during the period. Finally, Private Trust Co. NA grew its holdings in Novartis by 9.1% during the second quarter. Private Trust Co. NA now owns 3,496 shares of the company’s stock valued at $319,000 after purchasing an additional 293 shares during the period. 11.85% of the stock is owned by hedge funds and other institutional investors.

Shares of Novartis stock traded down $0.46 during trading hours on Friday, reaching $91.85. The company had a trading volume of 96,600 shares, compared to its average volume of 2,190,012. Novartis AG has a one year low of $71.33 and a one year high of $95.00. The business has a fifty day moving average price of $91.47. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.74 and a current ratio of 0.94. The company has a market cap of $211.15 billion, a price-to-earnings ratio of 18.05, a PEG ratio of 2.08 and a beta of 0.59.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Thursday, July 18th. The company reported $1.34 EPS for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.14. Novartis had a return on equity of 18.55% and a net margin of 23.27%. The firm had revenue of $11.76 billion during the quarter, compared to analyst estimates of $11.45 billion. During the same period last year, the company earned $1.29 earnings per share. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, equities research analysts predict that Novartis AG will post 5.06 earnings per share for the current fiscal year.

NVS has been the subject of several research reports. Liberum Capital raised Novartis from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. Argus increased their price objective on Novartis to $105.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. They noted that the move was a valuation call. Morgan Stanley lowered Novartis from an “equal weight” rating to an “underweight” rating and increased their price objective for the company from $82.50 to $82.52 in a report on Wednesday, April 10th. JPMorgan Chase & Co. reissued a “sell” rating on shares of Novartis in a report on Friday, July 5th. Finally, Guggenheim raised Novartis from a “neutral” rating to a “buy” rating and set a $79.16 price objective for the company in a report on Wednesday, April 24th. Four analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $90.63.

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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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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