Novartis AG (NYSE:NVS) Shares Purchased by Argent Trust Co

Argent Trust Co grew its stake in Novartis AG (NYSE:NVS) by 4.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,575 shares of the company’s stock after purchasing an additional 1,574 shares during the period. Argent Trust Co’s holdings in Novartis were worth $3,787,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James & Associates increased its holdings in Novartis by 1.3% in the second quarter. Raymond James & Associates now owns 536,607 shares of the company’s stock valued at $57,127,000 after buying an additional 6,767 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in Novartis in the 2nd quarter worth about $15,044,000. O Shaughnessy Asset Management LLC boosted its position in Novartis by 6.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 180,764 shares of the company’s stock worth $17,485,000 after purchasing an additional 11,080 shares in the last quarter. TD Asset Management Inc grew its holdings 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 purchasing an additional 41,815 shares during the period. Finally, FORA Capital LLC purchased a new stake in shares of Novartis in the first quarter valued at approximately $2,968,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Stock Performance

NYSE NVS opened at $115.70 on Wednesday. The stock has a fifty day simple moving average of $113.91 and a 200-day simple moving average of $105.21. The company has a current ratio of 0.93, a quick ratio of 0.72 and a debt-to-equity ratio of 0.47. The stock has a market cap of $236.49 billion, a PE ratio of 15.61, a P/E/G ratio of 1.73 and a beta of 0.57. Novartis AG has a twelve month low of $92.19 and a twelve month high of $120.92.

Novartis (NYSE:NVS) last announced its earnings results on Thursday, July 18th. The company reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.10. The company had revenue of $12.87 billion during the quarter, compared to analyst estimates of $12.24 billion. Novartis had a net margin of 33.76% and a return on equity of 34.56%. During the same quarter last year, the firm posted $1.83 earnings per share. Equities analysts anticipate that Novartis AG will post 7.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on NVS shares. The Goldman Sachs Group reissued a “neutral” rating and issued a $121.00 price target (up previously from $119.00) on shares of Novartis in a report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Novartis in a research note on Friday, July 19th. Jefferies Financial Group cut Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. Barclays raised Novartis to a “strong sell” rating in a research note on Monday, June 24th. Finally, Bank of America downgraded Novartis from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $135.00 to $130.00 in a research note on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $120.70.

Novartis 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.