2 days Ago By ABMN Staff
Parallel Advisors LLC grew its holdings in Novartis AG ( NYSE:NVS – Free Report ) by 7.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,946 shares of the company’s stock after purchasing an additional 896 shares during the period.
Parallel Advisors LLC’s holdings in Novartis were worth $1,378,000 as of its most recent SEC filing. Other hedge funds have also recently modified their holdings of the company. Private Ocean LLC bought a new stake in Novartis in the 1st quarter worth about $25,000.
Frazier Financial Advisors LLC purchased a new stake in shares of Novartis during the 4th quarter valued at about $26,000. Richardson Financial Services Inc. bought a new stake in shares of Novartis in the fourth quarter worth approximately $26,000.
Clearstead Trust LLC grew its stake in shares of Novartis by 73.5% in the first quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock worth $26,000 after acquiring an additional 114 shares during the period.
Finally, New Millennium Group LLC purchased a new position in shares of Novartis during the second quarter valued at approximately $28,000. Hedge funds and other institutional investors own 13.12% of the company’s stock.
Novartis Stock Performance Shares of NVS opened at $115.66 on Monday. The business has a 50-day simple moving average of $113.
58 and a two-hundred day simple moving average of $105.00. The company has a quick ratio of 0.
72, a current ratio of 0.93 and a debt-to-equity ratio of 0.47.
Novartis AG has a 52 week low of $92.19 and a 52 week high of $120.92.
The stock has a market cap of $236.41 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 1.
73 and a beta of 0.57. Analyst Upgrades and Downgrades A number of equities research analysts have commented on the stock.
The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $121.00 target price (up previously from $119.00) on shares of Novartis in a research report on Thursday, September 5th.
Bank of America cut 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 report on Wednesday, September 11th.
Jefferies Financial Group cut Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Novartis in a research report on Friday, July 19th. Finally, Barclays raised shares of Novartis to a “strong sell” rating in a report on Monday, June 24th.
One equities 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $120.
70. Read Our Latest Research Report on Novartis About Novartis ( 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. Read More Receive News & Ratings for Novartis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novartis and related companies with MarketBeat.com's FREE daily email newsletter .
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