Novartis AG (NYSE:NVS) Shares Purchased by Farther Finance Advisors LLC

Farther Finance Advisors LLC increased its position in shares of Novartis AG (NYSE:NVS) by 27.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,628 shares of the company’s stock after acquiring an additional 3,389 shares during the quarter. Farther Finance Advisors LLC’s holdings in Novartis were worth $1,713,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in shares of Novartis by 35.6% during the 4th quarter. JPMorgan Chase & Co. now owns 423,142 shares of the company’s stock valued at $41,176,000 after acquiring an additional 111,066 shares during the last quarter. Csenge Advisory Group boosted its position in shares of Novartis by 63.5% during the 4th quarter. Csenge Advisory Group now owns 16,395 shares of the company’s stock valued at $1,595,000 after acquiring an additional 6,369 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Novartis by 129.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 98,412 shares of the company’s stock valued at $9,560,000 after buying an additional 55,581 shares during the last quarter. Altrius Capital Management Inc boosted its stake in Novartis by 4.5% during the fourth quarter. Altrius Capital Management Inc now owns 77,783 shares of the company’s stock worth $7,569,000 after buying an additional 3,345 shares during the period. Finally, TigerOak Management L.L.C. acquired a new stake in shares of Novartis during the fourth quarter valued at about $301,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Stock Down 0.5%

Shares of NYSE:NVS opened at $117.99 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.04 and a quick ratio of 0.84. The firm has a market capitalization of $249.24 billion, a PE ratio of 20.07, a price-to-earnings-growth ratio of 1.70 and a beta of 0.59. The firm’s 50-day moving average is $111.14 and its two-hundred day moving average is $106.86. Novartis AG has a 1 year low of $96.06 and a 1 year high of $120.92.

Novartis (NYSE:NVS) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.16. The company had revenue of $13.23 billion for the quarter, compared to analyst estimates of $12.92 billion. Novartis had a net margin of 23.56% and a return on equity of 37.24%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.80 earnings per share. Analysts predict that Novartis AG will post 8.45 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NVS shares. Morgan Stanley started coverage on shares of Novartis in a research report on Wednesday, February 12th. They set an “underweight” rating for the company. BNP Paribas upgraded shares of Novartis to a “strong-buy” rating in a research report on Tuesday, April 15th. Finally, UBS Group reaffirmed a “neutral” rating on shares of Novartis in a research note on Thursday, February 13th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $123.38.

Novartis Profile

Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.