Envestnet Asset Management Inc. Raises Stock Position in Novartis AG $NVS

Envestnet Asset Management Inc. lifted its position in Novartis AG (NYSE:NVS) by 8.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,736,891 shares of the company’s stock after buying an additional 128,302 shares during the period. Envestnet Asset Management Inc. owned approximately 0.08% of Novartis worth $210,181,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. WPG Advisers LLC purchased a new position in shares of Novartis in the 1st quarter worth approximately $25,000. GFG Capital LLC purchased a new position in shares of Novartis in the 2nd quarter worth approximately $26,000. Barrett & Company Inc. purchased a new stake in Novartis during the 2nd quarter worth approximately $31,000. MCF Advisors LLC grew its position in Novartis by 66.0% during the 2nd quarter. MCF Advisors LLC now owns 264 shares of the company’s stock worth $32,000 after purchasing an additional 105 shares during the last quarter. Finally, Investment Management Corp VA ADV grew its position in Novartis by 172.2% during the 1st quarter. Investment Management Corp VA ADV now owns 313 shares of the company’s stock worth $35,000 after purchasing an additional 198 shares during the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Stock Performance

Shares of NYSE NVS opened at $129.12 on Tuesday. 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 company has a 50 day simple moving average of $127.66 and a two-hundred day simple moving average of $119.78. Novartis AG has a 12 month low of $96.06 and a 12 month high of $133.55. The stock has a market cap of $272.76 billion, a price-to-earnings ratio of 18.79, a PEG ratio of 1.82 and a beta of 0.64.

Analyst Ratings Changes

NVS has been the topic of several research analyst reports. Jefferies Financial Group reissued a “hold” rating on shares of Novartis in a research report on Monday. The Goldman Sachs Group reissued a “sell” rating and set a $118.00 target price (down previously from $119.00) on shares of Novartis in a research report on Friday, September 12th. Wall Street Zen raised shares of Novartis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Morgan Stanley raised shares of Novartis from an “underweight” rating to an “equal weight” rating and set a $123.00 target price on the stock in a research report on Friday, August 8th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Novartis in a research report on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Novartis presently has a consensus rating of “Hold” and an average price target of $120.33.

Novartis Company 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.