Novartis AG (NYSE:NVS) Stock Position Lifted by Woodmont Investment Counsel LLC

Woodmont Investment Counsel LLC boosted its stake in shares of Novartis AG (NYSE:NVS) by 2.4% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,671 shares of the company’s stock after purchasing an additional 939 shares during the period. Woodmont Investment Counsel LLC’s holdings in Novartis were worth $3,837,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Aaron Wealth Advisors LLC grew its position in Novartis by 21.6% during the fourth quarter. Aaron Wealth Advisors LLC now owns 5,904 shares of the company’s stock valued at $596,000 after purchasing an additional 1,050 shares in the last quarter. First Trust Direct Indexing L.P. lifted its stake in Novartis by 10.6% in the fourth quarter. First Trust Direct Indexing L.P. now owns 20,560 shares of the company’s stock valued at $2,076,000 after acquiring an additional 1,974 shares during the last quarter. Naviter Wealth LLC lifted its stake in Novartis by 24.5% in the fourth quarter. Naviter Wealth LLC now owns 41,219 shares of the company’s stock valued at $4,162,000 after acquiring an additional 8,116 shares during the last quarter. TD Asset Management Inc lifted its stake in Novartis by 314.8% in the fourth quarter. TD Asset Management Inc now owns 55,096 shares of the company’s stock valued at $5,563,000 after acquiring an additional 41,815 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC lifted its stake in Novartis by 368.3% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 20,251 shares of the company’s stock valued at $2,045,000 after acquiring an additional 15,927 shares during the last quarter. 13.12% of the stock is owned by hedge funds and other institutional investors.

Novartis Stock Down 0.0 %

Shares of NYSE NVS traded down $0.03 during midday trading on Tuesday, reaching $106.51. The company’s stock had a trading volume of 714,135 shares, compared to its average volume of 1,467,238. The company has a current ratio of 0.90, a quick ratio of 0.71 and a debt-to-equity ratio of 0.43. Novartis AG has a fifty-two week low of $92.19 and a fifty-two week high of $108.78. The stock has a market capitalization of $217.71 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 1.64 and a beta of 0.57. The stock has a 50 day simple moving average of $102.22 and a 200-day simple moving average of $101.22.

Novartis (NYSE:NVS) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.07. Novartis had a net margin of 31.33% and a return on equity of 32.15%. The company had revenue of $11.83 billion for the quarter, compared to the consensus estimate of $11.50 billion. Equities research analysts predict that Novartis AG will post 7.27 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NVS. BMO Capital Markets upped their price objective on shares of Novartis from $114.00 to $116.00 and gave the stock a “market perform” rating in a report on Wednesday, April 24th. Jefferies Financial Group increased their target price on shares of Novartis from $121.00 to $122.50 and gave the stock a “buy” rating in a research report on Tuesday. Barclays raised shares of Novartis to a “strong sell” rating in a research note on Monday, June 24th. Finally, The Goldman Sachs Group assumed coverage on shares of Novartis in a research note on Thursday, May 30th. They set a “buy” rating and a $120.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Novartis has a consensus rating of “Hold” and a consensus price target of $118.13.

Novartis Company Profile

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.