Richard C. Young & CO. LTD. Increases Position in Novartis AG (NYSE:NVS)

Richard C. Young & CO. LTD. boosted its holdings in Novartis AG (NYSE:NVS) by 13.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 108,837 shares of the company’s stock after purchasing an additional 12,493 shares during the quarter. Novartis comprises 1.9% of Richard C. Young & CO. LTD.’s portfolio, making the stock its 18th largest position. Richard C. Young & CO. LTD.’s holdings in Novartis were worth $9,938,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Harvest Group Wealth Management LLC bought a new position in shares of Novartis in the first quarter worth approximately $27,000. Asset Dedication LLC lifted its stake in shares of Novartis by 98.7% in the second quarter. Asset Dedication LLC now owns 304 shares of the company’s stock worth $27,000 after buying an additional 151 shares in the last quarter. Financial Gravity Wealth Inc. bought a new position in shares of Novartis in the first quarter worth approximately $33,000. Camarda Financial Advisors LLC bought a new position in shares of Novartis in the first quarter worth approximately $36,000. Finally, Vigilant Capital Management LLC bought a new position in shares of Novartis in the second quarter worth approximately $37,000. Institutional investors and hedge funds own 11.23% of the company’s stock.

Several research analysts have recently issued reports on NVS shares. Argus upped their target price on shares of Novartis to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Novartis from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a research report on Friday, July 19th. Kepler Capital Markets downgraded shares of Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. restated a “sell” rating on shares of Novartis in a research report on Friday, July 5th. Finally, Liberum Capital upgraded shares of Novartis from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Novartis currently has an average rating of “Hold” and a consensus price target of $90.63.

NVS stock traded down $0.02 during midday trading on Friday, reaching $88.98. 1,118,602 shares of the company’s stock traded hands, compared to its average volume of 1,983,461. Novartis AG has a 52-week low of $71.40 and a 52-week high of $95.00. The stock has a market cap of $204.19 billion, a P/E ratio of 17.48, a PEG ratio of 1.99 and a beta of 0.58. The company has a current ratio of 0.94, a quick ratio of 0.74 and a debt-to-equity ratio of 0.43. The stock’s 50-day moving average is $90.98 and its 200 day moving average is $88.63.

Novartis (NYSE:NVS) last announced its earnings results on Thursday, July 18th. The company reported $1.34 EPS for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.14. Novartis had a net margin of 23.27% and a return on equity of 18.55%. The business had revenue of $11.76 billion during the quarter, compared to analysts’ expectations of $11.45 billion. During the same period in the prior year, the company earned $1.29 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis. As a group, research analysts expect that Novartis AG will post 5.15 EPS for the current fiscal year.

Novartis Profile

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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