Novartis AG (NVS) Shares Bought by Chicago Partners Investment Group LLC

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Chicago Partners Investment Group LLC increased its holdings in shares of Novartis AG (NYSE:NVS) by 40.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 2,573 shares of the company’s stock after acquiring an additional 735 shares during the period. Chicago Partners Investment Group LLC’s holdings in Novartis were worth $222,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Quad Cities Investment Group LLC bought a new stake in shares of Novartis during the 2nd quarter worth approximately $139,000. WESPAC Advisors SoCal LLC bought a new stake in shares of Novartis during the 3rd quarter worth approximately $152,000. Moneta Group Investment Advisors LLC bought a new stake in shares of Novartis during the 2nd quarter worth approximately $174,000. Flagship Harbor Advisors LLC bought a new stake in shares of Novartis during the 2nd quarter worth approximately $199,000. Finally, Linscomb & Williams Inc. bought a new stake in shares of Novartis during the 2nd quarter worth approximately $200,000. 10.95% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Novartis in a research note on Tuesday. Wolfe Research initiated coverage on Novartis in a report on Tuesday, October 23rd. They set an “outperform” rating on the stock. Goldman Sachs Group restated a “neutral” rating on shares of Novartis in a report on Wednesday, October 10th. Guggenheim initiated coverage on Novartis in a report on Monday, October 8th. They set a “neutral” rating on the stock. Finally, Zacks Investment Research upgraded Novartis from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a report on Tuesday, September 18th. Twelve investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $84.86.

NVS opened at $89.22 on Friday. The firm has a market cap of $203.75 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 1.95 and a beta of 0.73. Novartis AG has a 52 week low of $72.30 and a 52 week high of $94.19. The company has a current ratio of 1.20, a quick ratio of 0.96 and a debt-to-equity ratio of 0.29.

Novartis (NYSE:NVS) last released its quarterly earnings data on Thursday, October 18th. The company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.31 by $0.01. The company had revenue of $12.78 billion for the quarter, compared to the consensus estimate of $12.88 billion. Novartis had a return on equity of 15.81% and a net margin of 25.98%. Novartis’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the business posted $1.29 EPS. On average, equities research analysts forecast that Novartis AG will post 5.17 EPS for the current fiscal year.

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Novartis Profile

Novartis AG researches, develops, manufactures, and markets a range of healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines to enhance health outcomes for patients and health-care providers. This segment also commercializes products in the areas of oncology and rare diseases, ophthalmology, immunology and dermatology, neuroscience, respiratory, cardio-metabolic, and established medicines.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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