Crossmark Global Holdings Inc. grew its position in Novartis AG (NYSE:NVS - Free Report) by 28.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,617 shares of the company's stock after purchasing an additional 7,824 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Novartis were worth $4,096,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of NVS. Founders Financial Securities LLC lifted its position in shares of Novartis by 3.4% during the 2nd quarter. Founders Financial Securities LLC now owns 2,832 shares of the company's stock worth $301,000 after purchasing an additional 94 shares during the last quarter. Steigerwald Gordon & Koch Inc. boosted its position in shares of Novartis by 4.8% in the third quarter. Steigerwald Gordon & Koch Inc. now owns 2,091 shares of the company's stock valued at $241,000 after acquiring an additional 95 shares during the period. NBC Securities Inc. grew its stake in shares of Novartis by 0.9% in the second quarter. NBC Securities Inc. now owns 10,492 shares of the company's stock worth $1,116,000 after acquiring an additional 97 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Novartis by 5.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,013 shares of the company's stock valued at $196,000 after purchasing an additional 98 shares during the last quarter. Finally, Portside Wealth Group LLC boosted its holdings in Novartis by 3.4% in the 2nd quarter. Portside Wealth Group LLC now owns 3,000 shares of the company's stock valued at $319,000 after purchasing an additional 99 shares during the period. 13.12% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on the stock. BMO Capital Markets upped their price objective on shares of Novartis from $118.00 to $120.00 and gave the company a "market perform" rating in a research report on Wednesday, October 30th. Bank of America lowered Novartis from a "buy" rating to a "neutral" rating and cut their target price for the company from $135.00 to $130.00 in a research note on Wednesday, September 11th. Jefferies Financial Group downgraded shares of Novartis from a "buy" rating to a "hold" rating in a research note on Tuesday, September 3rd. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $121.00 price objective (up from $119.00) on shares of Novartis in a report on Thursday, September 5th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Novartis in a research note on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $121.50.
Get Our Latest Analysis on Novartis
Novartis Trading Down 0.9 %
NYSE:NVS traded down $0.93 during trading hours on Tuesday, hitting $104.74. 359,161 shares of the stock were exchanged, compared to its average volume of 1,337,905. The company has a market capitalization of $214.09 billion, a P/E ratio of 12.27, a price-to-earnings-growth ratio of 1.55 and a beta of 0.58. Novartis AG has a twelve month low of $92.35 and a twelve month high of $120.92. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 0.55. The company's 50 day moving average is $114.25 and its two-hundred day moving average is $109.83.
Novartis (NYSE:NVS - Get Free Report) last released its earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.94 by $0.12. The company had revenue of $12.82 billion for the quarter, compared to the consensus estimate of $12.62 billion. Novartis had a net margin of 35.96% and a return on equity of 34.80%. During the same period in the prior year, the company posted $1.74 EPS. On average, sell-side analysts anticipate that Novartis AG will post 7.56 earnings per share for the current fiscal year.
Novartis Profile
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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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