Novartis AG (NYSE:NVS) Shares Bought by Seven Eight Capital LP

Seven Eight Capital LP grew its holdings in Novartis AG (NYSE:NVS) by 229.8% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 13,647 shares of the company’s stock after buying an additional 9,509 shares during the period. Seven Eight Capital LP’s holdings in Novartis were worth $1,453,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in NVS. Hsbc Holdings PLC purchased a new stake in Novartis during the 2nd quarter valued at approximately $22,979,000. O Brien Greene & Co. Inc increased its holdings in shares of Novartis by 2.2% in the second quarter. O Brien Greene & Co. Inc now owns 5,698 shares of the company’s stock valued at $607,000 after purchasing an additional 124 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in shares of Novartis by 19.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 69,774 shares of the company’s stock worth $7,324,000 after purchasing an additional 11,355 shares during the last quarter. Argent Trust Co lifted its holdings in shares of Novartis by 4.6% during the second quarter. Argent Trust Co now owns 35,575 shares of the company’s stock worth $3,787,000 after purchasing an additional 1,574 shares during the period. Finally, Mercer Global Advisors Inc. ADV grew its position in Novartis by 3.6% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 153,055 shares of the company’s stock valued at $16,294,000 after buying an additional 5,285 shares during the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Novartis Trading Up 0.0 %

Shares of Novartis stock opened at $116.00 on Friday. The company has a 50-day moving average of $114.14 and a two-hundred day moving average of $105.36. The stock has a market cap of $237.10 billion, a PE ratio of 15.65, a price-to-earnings-growth ratio of 1.75 and a beta of 0.57. The company has a current ratio of 0.93, a quick ratio of 0.72 and a debt-to-equity ratio of 0.47. Novartis AG has a 12-month low of $92.19 and a 12-month high of $120.92.

Novartis (NYSE:NVS) last released its quarterly earnings data on Thursday, July 18th. The company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.10. The firm had revenue of $12.87 billion during 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 period last year, the business posted $1.83 EPS. On average, research analysts anticipate that Novartis AG will post 7.5 EPS for the current fiscal year.

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.