Puzo Michael J raised its stake in Novartis AG (NYSE:NVS) by 2.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 99,973 shares of the company’s stock after buying an additional 2,065 shares during the period. Novartis makes up approximately 3.3% of Puzo Michael J’s holdings, making the stock its 11th largest holding. Puzo Michael J’s holdings in Novartis were worth $8,689,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Winslow Evans & Crocker Inc. boosted its position in Novartis by 11.8% during the second quarter. Winslow Evans & Crocker Inc. now owns 1,084 shares of the company’s stock worth $102,000 after acquiring an additional 114 shares during the last quarter. PagnatoKarp Partners LLC boosted its holdings in shares of Novartis by 0.6% in the 2nd quarter. PagnatoKarp Partners LLC now owns 18,887 shares of the company’s stock valued at $1,725,000 after purchasing an additional 115 shares during the last quarter. Baystate Wealth Management LLC boosted its holdings in shares of Novartis by 22.5% in the 3rd quarter. Baystate Wealth Management LLC now owns 625 shares of the company’s stock valued at $54,000 after purchasing an additional 115 shares during the last quarter. Old Port Advisors boosted its holdings in shares of Novartis by 4.5% in the 2nd quarter. Old Port Advisors now owns 2,722 shares of the company’s stock valued at $252,000 after purchasing an additional 116 shares during the last quarter. Finally, Leavell Investment Management Inc. boosted its holdings in shares of Novartis by 3.9% in the 3rd quarter. Leavell Investment Management Inc. now owns 3,134 shares of the company’s stock valued at $272,000 after purchasing an additional 119 shares during the last quarter. 11.14% of the stock is owned by institutional investors.
Shares of NVS traded up $0.66 during mid-day trading on Tuesday, reaching $89.29. The company had a trading volume of 803,411 shares, compared to its average volume of 2,192,216. The stock has a market cap of $202.53 billion, a price-to-earnings ratio of 17.54, a price-to-earnings-growth ratio of 1.97 and a beta of 0.59. The firm has a fifty day simple moving average of $86.86 and a 200-day simple moving average of $87.88. Novartis AG has a fifty-two week low of $72.19 and a fifty-two week high of $95.00. The company has a current ratio of 0.95, a quick ratio of 0.73 and a debt-to-equity ratio of 0.42.
Novartis (NYSE:NVS) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.10. Novartis had a net margin of 24.43% and a return on equity of 20.86%. The company had revenue of $12.17 billion for the quarter, compared to analyst estimates of $11.67 billion. During the same quarter last year, the business earned $1.32 EPS. Novartis’s revenue for the quarter was up 10.5% on a year-over-year basis. As a group, equities analysts predict that Novartis AG will post 5.16 EPS for the current fiscal year.
A number of brokerages have weighed in on NVS. Cowen reiterated a “buy” rating and issued a $100.00 price target on shares of Novartis in a report on Friday, October 25th. Kepler Capital Markets lowered shares of Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. ValuEngine upgraded shares of Novartis from a “sell” rating to a “hold” rating in a report on Saturday, October 19th. Zacks Investment Research lowered shares of Novartis from a “buy” rating to a “hold” rating and set a $100.00 price target on the stock. in a report on Friday, July 19th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Novartis in a report on Thursday, August 29th. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $95.28.
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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