Northeast Investment Management Has $3.42 Million Stake in Novartis AG (NYSE:NVS)

Northeast Investment Management boosted its stake in Novartis AG (NYSE:NVS) by 24.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,153 shares of the company’s stock after buying an additional 6,223 shares during the quarter. Northeast Investment Management’s holdings in Novartis were worth $3,423,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of NVS. NBC Securities Inc. grew its stake in Novartis by 0.9% in the second quarter. NBC Securities Inc. now owns 10,492 shares of the company’s stock valued at $1,116,000 after acquiring an additional 97 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Novartis by 5.1% during the first quarter. EverSource Wealth Advisors LLC now owns 2,013 shares of the company’s stock worth $196,000 after buying an additional 98 shares during the period. Portside Wealth Group LLC boosted its position in shares of Novartis by 3.4% during the second quarter. Portside Wealth Group LLC now owns 3,000 shares of the company’s stock worth $319,000 after buying an additional 99 shares during the period. Evermay Wealth Management LLC boosted its position in shares of Novartis by 9.3% during the first quarter. Evermay Wealth Management LLC now owns 1,176 shares of the company’s stock worth $114,000 after buying an additional 100 shares during the period. Finally, Essex LLC boosted its position in shares of Novartis by 4.3% during the second quarter. Essex LLC now owns 2,450 shares of the company’s stock worth $261,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 13.12% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on NVS shares. Barclays raised Novartis to a “strong sell” rating in a research report on Monday, June 24th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Novartis in a research note on Friday, July 19th. Jefferies Financial Group upped their price objective on Novartis from $121.00 to $122.50 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Finally, The Goldman Sachs Group started coverage on Novartis in a research note on Thursday, May 30th. They issued a “buy” rating and a $120.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $118.13.

Novartis Stock Performance

Shares of NYSE NVS traded up $0.10 during trading hours on Wednesday, reaching $119.94. 860,029 shares of the stock were exchanged, compared to its average volume of 1,418,804. The firm has a market capitalization of $245.16 billion, a price-to-earnings ratio of 16.19, a P/E/G ratio of 1.69 and a beta of 0.57. Novartis AG has a 52 week low of $92.19 and a 52 week high of $120.67. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.72 and a current ratio of 0.93. The stock’s fifty day simple moving average is $110.90 and its 200 day simple moving average is $103.60.

Novartis (NYSE:NVS) last issued its quarterly earnings results on Thursday, July 18th. The company reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.10. The business had revenue of $12.87 billion for the quarter, compared to the consensus estimate of $12.24 billion. Novartis had a return on equity of 34.56% and a net margin of 33.76%. During the same quarter in the prior year, the business posted $1.83 earnings per share. Sell-side analysts predict that Novartis AG will post 7.44 EPS for the current year.

About Novartis

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.