Valeo Financial Advisors LLC lifted its stake in shares of Novartis AG (NYSE:NVS – Free Report) by 8.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,266 shares of the company’s stock after acquiring an additional 746 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Novartis were worth $1,121,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of NVS. WPG Advisers LLC purchased a new position in Novartis during the 1st quarter worth $25,000. Tsfg LLC increased its stake in shares of Novartis by 366.0% during the first quarter. Tsfg LLC now owns 233 shares of the company’s stock valued at $26,000 after buying an additional 183 shares during the period. Barrett & Company Inc. purchased a new position in shares of Novartis during the second quarter valued at $31,000. MCF Advisors LLC increased its stake in shares of Novartis by 66.0% during the second quarter. MCF Advisors LLC now owns 264 shares of the company’s stock valued at $32,000 after buying an additional 105 shares during the period. Finally, Alpine Bank Wealth Management purchased a new position in Novartis during the 1st quarter valued at about $33,000. 13.12% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research firms have recently commented on NVS. Weiss Ratings restated a “buy (b)” rating on shares of Novartis in a report on Saturday, September 27th. The Goldman Sachs Group reissued a “sell” rating and set a $118.00 price objective (down from $119.00) on shares of Novartis in a report on Friday, September 12th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Novartis in a report on Thursday, August 21st. Wall Street Zen downgraded Novartis from a “strong-buy” rating to a “buy” rating in a report on Friday, August 22nd. Finally, Morgan Stanley upgraded Novartis from an “underweight” rating to an “equal weight” rating and set a $123.00 target price on the stock in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $120.33.
Novartis Price Performance
NYSE NVS opened at $131.57 on Wednesday. Novartis AG has a 12-month low of $96.06 and a 12-month high of $133.55. The firm’s fifty day simple moving average is $124.18 and its two-hundred day simple moving average is $117.48. The company has a current ratio of 0.82, a quick ratio of 0.62 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $277.93 billion, a P/E ratio of 19.15, a P/E/G ratio of 1.83 and a beta of 0.64.
Novartis (NYSE:NVS – Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.04. Novartis had a return on equity of 41.08% and a net margin of 25.64%.The firm had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $13.94 billion. During the same period in the previous year, the business earned $1.97 EPS. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. Analysts forecast that Novartis AG will post 8.45 EPS for the current fiscal year.
About Novartis
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.
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