Bristlecone Advisors LLC Acquires New Shares in Novartis AG $NVS

Bristlecone Advisors LLC acquired a new stake in Novartis AG (NYSE:NVS) in the second quarter, according to its most recent filing with the SEC. The fund acquired 1,726 shares of the company’s stock, valued at approximately $209,000.

Several other large investors have also recently bought and sold shares of NVS. Brighton Jones LLC boosted its holdings in Novartis by 76.5% in the 4th quarter. Brighton Jones LLC now owns 6,153 shares of the company’s stock valued at $599,000 after purchasing an additional 2,666 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Novartis by 14.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 112,469 shares of the company’s stock valued at $12,328,000 after purchasing an additional 14,057 shares during the period. Mather Group LLC. boosted its holdings in Novartis by 4.2% in the 1st quarter. Mather Group LLC. now owns 7,911 shares of the company’s stock valued at $882,000 after purchasing an additional 322 shares during the period. Summit Trail Advisors LLC boosted its holdings in Novartis by 10.0% in the 1st quarter. Summit Trail Advisors LLC now owns 6,360 shares of the company’s stock valued at $734,000 after purchasing an additional 580 shares during the period. Finally, Rossby Financial LCC bought a new position in Novartis in the 1st quarter valued at $288,000. 13.12% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Novartis in a report on Thursday, August 21st. Morgan Stanley raised shares of Novartis from an “underweight” rating to an “equal weight” rating and set a $123.00 price objective for the company in a report on Friday, August 8th. Wall Street Zen raised shares of Novartis from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Novartis in a report on Monday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Novartis in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $122.33.

Novartis Price Performance

Shares of NYSE:NVS opened at $121.73 on Thursday. The stock has a market cap of $257.15 billion, a PE ratio of 16.63, a PEG ratio of 1.73 and a beta of 0.64. The company’s fifty day moving average is $127.52 and its 200 day moving average is $120.01. Novartis AG has a 52 week low of $96.06 and a 52 week high of $133.55. The company has a quick ratio of 0.62, a current ratio of 0.82 and a debt-to-equity ratio of 0.53.

Novartis (NYSE:NVS) last issued its earnings results on Tuesday, October 28th. The company reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.01). The business had revenue of $13.91 billion during the quarter, compared to analysts’ expectations of $13.70 billion. Novartis had a return on equity of 42.01% and a net margin of 26.49%.Novartis’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.06 EPS. Research analysts anticipate that Novartis AG will post 8.45 earnings per share for the current year.

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.