Wealthsimple US Ltd. Increases Stock Position in Novartis AG (NYSE:NVS)

Wealthsimple US Ltd. lifted its position in shares of Novartis AG (NYSE:NVS) by 5.0% during the 1st quarter, Holdings Channel.com reports. The fund owned 2,606 shares of the company’s stock after buying an additional 123 shares during the period. Novartis makes up 0.1% of Wealthsimple US Ltd.’s holdings, making the stock its 20th largest holding. Wealthsimple US Ltd.’s holdings in Novartis were worth $223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in NVS. Phoenix Wealth Advisors acquired a new position in shares of Novartis during the 4th quarter worth approximately $27,000. Regent Peak Wealth Advisors LLC acquired a new position in shares of Novartis during the 4th quarter worth approximately $34,000. Meeder Asset Management Inc. raised its position in shares of 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 purchasing an additional 319 shares during the last quarter. Veriti Management LLC acquired a new position in Novartis in the 4th quarter valued at $42,000. Finally, Hoese & Co LLP acquired a new position in Novartis in the 4th quarter valued at $42,000. 10.11% of the stock is currently owned by institutional investors and hedge funds.

Shares of Novartis stock traded down $0.58 on Friday, hitting $92.92. The company had a trading volume of 19,901 shares, compared to its average volume of 1,980,951. The business has a 50-day simple moving average of $87.96. The company has a current ratio of 0.74, a quick ratio of 0.50 and a debt-to-equity ratio of 0.51. The stock has a market cap of $212.67 billion, a P/E ratio of 26.87, a PEG ratio of 2.18 and a beta of 0.54. Novartis AG has a 52 week low of $77.04 and a 52 week high of $98.52.

Novartis (NYSE:NVS) last issued 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 for the quarter, compared to the consensus estimate of $12.63 billion. Novartis had a return on equity of 24.15% and a net margin of 16.31%. The company’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.56 earnings per share. On average, equities analysts expect that Novartis AG will post 6.33 EPS for the current year.

NVS has been the subject of a number of research reports. Argus reaffirmed a “hold” rating on shares of Novartis in a research report on Tuesday, March 16th. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Novartis in a research report on Wednesday, April 28th. Oddo Bhf raised shares of Novartis from a “neutral” rating to an “outperform” rating in a research report on Wednesday, April 28th. Sanford C. Bernstein began coverage on shares of Novartis in a research report on Monday, March 22nd. They set a “market perform” rating on the stock. Finally, UBS Group reaffirmed a “buy” rating on shares of Novartis in a research report on Monday, April 19th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $108.50.

Novartis Company 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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