Diversified Trust Co Buys 229 Shares of Novartis AG (NYSE:NVS)

by · The Markets Daily

Diversified Trust Co boosted its stake in Novartis AG (NYSE:NVS – Free Report) by 4.7% in the third quarter, HoldingsChannel reports. The firm owned 5,099 shares of the company’s stock after acquiring an additional 229 shares during the period. Diversified Trust Co’s holdings in Novartis were worth $586,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in NVS. GAMMA Investing LLC boosted its position in shares of Novartis by 33.3% during the third quarter. GAMMA Investing LLC now owns 5,437 shares of the company’s stock worth $625,000 after purchasing an additional 1,359 shares in the last quarter. Eldred Rock Partners LLC increased its holdings in shares of Novartis by 118.4% in the third quarter. Eldred Rock Partners LLC now owns 60,543 shares of the company’s stock worth $6,964,000 after acquiring an additional 32,816 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Novartis by 18.8% during the third quarter. SG Americas Securities LLC now owns 21,296 shares of the company’s stock worth $2,449,000 after purchasing an additional 3,372 shares during the period. Centaurus Financial Inc. grew its position in shares of Novartis by 21.5% in the 2nd quarter. Centaurus Financial Inc. now owns 5,630 shares of the company’s stock valued at $599,000 after purchasing an additional 995 shares during the period. Finally, Heritage Wealth Management Inc. acquired a new position in shares of Novartis in the 2nd quarter valued at approximately $663,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NVS. Jefferies Financial Group lowered shares of Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. Bank of America lowered Novartis from a “buy” rating to a “neutral” rating and cut their price target for the company from $135.00 to $130.00 in a report on Wednesday, September 11th. Barclays raised Novartis to a “strong sell” rating in a research report on Monday, June 24th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $121.00 price target (up previously from $119.00) on shares of Novartis in a research report on Thursday, September 5th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Novartis in a report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Novartis currently has a consensus rating of “Hold” and an average price target of $120.70.

Get Our Latest Stock Analysis on Novartis

Novartis Stock Down 0.7 %

NVS stock opened at $114.81 on Friday. The company has a market cap of $234.67 billion, a price-to-earnings ratio of 15.61, a P/E/G ratio of 1.70 and a beta of 0.57. Novartis AG has a twelve month low of $92.19 and a twelve month high of $120.92. The business has a 50 day moving average price of $115.61 and a two-hundred day moving average price of $106.99. The company has a quick ratio of 0.72, a current ratio of 0.93 and a debt-to-equity ratio of 0.47.

Novartis (NYSE:NVS – Get Free Report) last released its earnings results on Thursday, July 18th. The company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.10. The business had revenue of $12.87 billion during the quarter, compared to analysts’ expectations of $12.24 billion. Novartis had a net margin of 33.76% and a return on equity of 34.56%. During the same period last year, the business earned $1.83 earnings per share. Analysts anticipate that Novartis AG will post 7.5 EPS for the current fiscal year.

About Novartis

(Free Report)

Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.

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