Bessemer Group Inc. Has $1.88 Million Position in Novartis AG $NVS

Bessemer Group Inc. raised its position in Novartis AG (NYSE:NVS) by 37.9% in the 2nd quarter, Holdings Channel reports. The firm owned 15,573 shares of the company’s stock after buying an additional 4,284 shares during the period. Bessemer Group Inc.’s holdings in Novartis were worth $1,883,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. GFG Capital LLC acquired a new position in shares of Novartis in the 2nd quarter valued at $26,000. WPG Advisers LLC acquired a new stake in Novartis during the 1st quarter worth $25,000. Barrett & Company Inc. bought a new position in Novartis during the second quarter worth about $31,000. MCF Advisors LLC grew its stake in Novartis by 66.0% in the second quarter. MCF Advisors LLC now owns 264 shares of the company’s stock valued at $32,000 after acquiring an additional 105 shares during the period. Finally, Highline Wealth Partners LLC grew its stake in Novartis by 82.4% in the second quarter. Highline Wealth Partners LLC now owns 290 shares of the company’s stock valued at $35,000 after acquiring an additional 131 shares during the period. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Price Performance

NYSE:NVS opened at $122.71 on Friday. Novartis AG has a 52-week low of $96.06 and a 52-week high of $133.55. The company has a market cap of $259.20 billion, a P/E ratio of 16.76, a P/E/G ratio of 1.93 and a beta of 0.64. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.62 and a current ratio of 0.88. The stock’s 50-day simple moving average is $127.44 and its 200 day simple moving average is $120.03.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $2.25 earnings per share for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.01). The company had revenue of $13.91 billion during the quarter, compared to the consensus estimate of $13.70 billion. Novartis had a net margin of 26.49% and a return on equity of 41.21%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.06 earnings per share. As a group, sell-side analysts forecast that Novartis AG will post 8.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on NVS shares. Wall Street Zen raised Novartis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Weiss Ratings restated a “buy (b)” rating on shares of Novartis in a report on Wednesday, October 8th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Novartis in a research note on Monday. HC Wainwright downgraded shares of Novartis to a “neutral” rating in a research report on Monday. Finally, Cfra set a $126.00 price objective on shares of Novartis and gave the stock a “hold” rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Novartis currently has a consensus rating of “Hold” and an average target price of $122.33.

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.