3,196 Shares in Novartis AG $NVS Bought by Ethos Financial Group LLC

Ethos Financial Group LLC acquired a new position in Novartis AG (NYSE:NVS) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,196 shares of the company’s stock, valued at approximately $387,000.

Several other institutional investors also recently made changes to their positions in NVS. Anchor Capital Advisors LLC acquired a new position in shares of Novartis during the 2nd quarter worth $208,000. Atlantic Union Bankshares Corp boosted its holdings in Novartis by 62.4% during the second quarter. Atlantic Union Bankshares Corp now owns 28,557 shares of the company’s stock worth $3,456,000 after buying an additional 10,969 shares in the last quarter. Csenge Advisory Group grew its position in Novartis by 2.4% during the second quarter. Csenge Advisory Group now owns 18,408 shares of the company’s stock worth $2,131,000 after buying an additional 432 shares during the period. Genus Capital Management Inc. grew its position in Novartis by 6.7% during the second quarter. Genus Capital Management Inc. now owns 3,089 shares of the company’s stock worth $374,000 after buying an additional 194 shares during the period. Finally, Moors & Cabot Inc. increased its holdings in Novartis by 6.2% in the second quarter. Moors & Cabot Inc. now owns 31,062 shares of the company’s stock valued at $3,759,000 after buying an additional 1,815 shares in the last quarter. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Novartis Stock Performance

NYSE NVS opened at $126.43 on Friday. The business’s 50-day moving average price is $127.30 and its 200 day moving average price is $120.66. The company has a current ratio of 0.88, a quick ratio of 0.62 and a debt-to-equity ratio of 0.50. Novartis AG has a twelve month low of $96.06 and a twelve month high of $133.55. The company has a market capitalization of $267.06 billion, a PE ratio of 17.27, a price-to-earnings-growth ratio of 1.93 and a beta of 0.60.

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Morgan Stanley raised Novartis from an “equal weight” rating to an “overweight” rating in a research note on Friday, October 31st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Novartis in a report on Friday, October 31st. Cfra set a $126.00 target price on Novartis and gave the company a “hold” rating in a report on Wednesday, October 29th. Cfra Research upgraded Novartis to a “hold” rating in a research report on Wednesday, October 29th. Finally, Wall Street Zen lowered shares of Novartis from a “strong-buy” rating to a “hold” rating in a research report on Saturday, November 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $122.33.

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.