CORDA Investment Management LLC. Has $13.99 Million Holdings in Novartis AG (NYSE:NVS)

CORDA Investment Management LLC. lifted its holdings in Novartis AG (NYSE:NVS) by 0.3% in the 1st quarter, Holdings Channel reports. The firm owned 163,670 shares of the company’s stock after buying an additional 540 shares during the quarter. CORDA Investment Management LLC.’s holdings in Novartis were worth $13,990,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Phoenix Wealth Advisors acquired a new stake in shares of Novartis in the 4th quarter valued at $27,000. Regent Peak Wealth Advisors LLC acquired a new position in Novartis during the 4th quarter worth $34,000. Meeder Asset Management Inc. lifted its position in Novartis by 309.7% during the 1st quarter. Meeder Asset Management Inc. now owns 422 shares of the company’s stock worth $36,000 after acquiring an additional 319 shares during the last quarter. Better Money Decisions LLC acquired a new position in Novartis during the 1st quarter worth $39,000. Finally, Northwest Investment Counselors LLC acquired a new position in Novartis during the 1st quarter worth $41,000. 10.11% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have weighed in on NVS shares. Argus reissued a “hold” rating on shares of Novartis in a research report on Tuesday, March 16th. Oddo Bhf raised shares of Novartis from a “neutral” rating to an “outperform” rating in a research report on Wednesday, April 28th. Morgan Stanley reissued an “overweight” rating on shares of Novartis in a research report on Tuesday, May 11th. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Novartis in a research report on Wednesday, April 28th. Finally, Sanford C. Bernstein started coverage on shares of Novartis in a report on Monday, March 22nd. They set a “market perform” rating on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $108.50.

Shares of NYSE:NVS traded down $0.51 on Friday, hitting $92.99. 27,351 shares of the company were exchanged, compared to its average volume of 1,980,951. The firm’s 50 day moving average price is $87.96. Novartis AG has a one year low of $77.04 and a one year high of $98.52. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.74 and a quick ratio of 0.50. The stock has a market capitalization of $212.83 billion, a price-to-earnings ratio of 26.70, a price-to-earnings-growth ratio of 2.18 and a beta of 0.54.

Novartis (NYSE:NVS) last posted its earnings results on Monday, April 26th. The company reported $1.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.54 by ($0.02). The business had revenue of $12.41 billion during the quarter, compared to the consensus estimate of $12.63 billion. Novartis had a net margin of 16.31% and a return on equity of 24.15%. The business’s revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.56 EPS. As a group, equities analysts expect that Novartis AG will post 6.33 EPS for the current year.

Novartis Profile

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company operates through two segments, Innovative Medicines and Sandoz. The Innovative Medicines segment offers prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, established, and cardiovascular, renal and metabolism medicine products.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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