Miles Capital Inc. maintained its stake in Novartis AG (NYSE:NVS) during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 6,000 shares of the company's stock at the end of the second quarter. LLC acquired a new position in Novartis AG during the first quarter worth approximately $119,000.
Hedge funds have recently added to or reduced their stakes in the company. Moreno Evelyn V boosted its position in Novartis AG by 15.3% in the first quarter. Howe & Rusling Inc. now owns 1,341 shares of the company's stock valued at $100,000 after buying an additional 882 shares in the last quarter. J P Morgan Chase & Co reaffirmed a "neutral" rating on shares of Novartis AG in a research report on Tuesday, April 18th. North Star Investment Management Corp. now owns 1,526 shares of the company's stock valued at $113,000 after buying an additional 511 shares during the period. BlackRock Inc. bought a new position in shares of Novartis AG during the first quarter valued at approximately $210,378,000. AT Bancorp now owns 11,690 shares of the company's stock valued at $868,000 after buying an additional 470 shares during the last quarter. PA increased its stake in Novartis AG by 3,276.1% in the fourth quarter. Fulton Bank N.A. now owns 22,897 shares of the company's stock valued at $1,701,000 after buying an additional 272 shares during the last quarter. During the same period in the prior year, the company earned $1.23 earnings per share.
Shares of Novartis AG (NYSE:NVS) opened at 83.27 on Tuesday. With 1.64 million shares average volume, it will take short sellers 2 days to cover their NVS's short positions. The stock has a market capitalization of $200.02 billion, a P/E ratio of 31.788 and a beta of 0.73. Novartis AG has a 1-year low of $66.93 and a 1-year high of $86.90. The stock has a 50 day moving average of $81.82 and a 200-day moving average of $76.18. Credit Suisse downgraded Novartis AG (ADR) (NYSE:NVS) on Wednesday, January 11 to "Neutral" rating. The company reported $1.13 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $1.10 by $0.03. The firm had revenue of $12.24 billion during the quarter, compared to analysts' expectations of $12.20 billion. Novartis AG had a return on equity of 15.46% and a net margin of 13.10%. During the same quarter previous year, the company earned $1.23 earnings per share. On average, analysts forecast that Novartis AG will post $4.71 EPS for the current fiscal year.
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Several equities analysts have recently commented on NVS shares. Finally, UBS AG reissued a "neutral" rating on shares of Novartis AG in a research note on Wednesday, May 24th. Cowen and Company cut Novartis AG from an "outperform" rating to a "market perform" rating and decreased their price objective for the company from $87.00 to $77.00 in a report on Wednesday, April 5th. Finally, TheStreet raised Novartis AG from a "c+" rating to a "b" rating in a research note on Friday, June 2nd. Zacks Investment Research upgraded shares of Novartis AG from a "strong sell" rating to a "hold" rating in a report on Monday, May 1st. Morgan Stanley reaffirmed a "sell" rating on shares of Novartis AG in a research note on Tuesday, June 6th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. Novartis AG now has a consensus rating of "Hold" and a consensus price target of $81.71.
In related news, major shareholder Bioventures Ltd Novartis purchased 266,667 shares of the firm's stock in a transaction on Wednesday, July 5th. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Jolley Asset Management, LLC expanded its stake by buying 45 shares an increase of 0.1% from 03/31/2017 to 06/30/2017.
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