Wealth Enhancement Advisory Services LLC Increases Holdings in Novartis AG $NVS

Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Novartis AG (NYSE:NVS) by 23.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 180,188 shares of the company’s stock after purchasing an additional 33,655 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Novartis were worth $23,704,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the business. GFG Capital LLC purchased a new position in shares of Novartis in the second quarter worth about $26,000. Legacy Investment Solutions LLC bought a new position in Novartis during the 2nd quarter worth approximately $30,000. Barrett & Company Inc. purchased a new position in Novartis in the 2nd quarter worth approximately $31,000. MCF Advisors LLC increased its stake in Novartis by 66.0% in 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 period. Finally, Highline Wealth Partners LLC lifted its position 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 purchasing an additional 131 shares during the last quarter. 13.12% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NVS. Cfra set a $126.00 target price on shares of Novartis and gave the stock a “hold” rating in a research note on Wednesday, October 29th. TD Cowen restated a “hold” rating on shares of Novartis in a research report on Monday, November 10th. Cfra Research raised shares of Novartis to a “hold” rating in a research note on Wednesday, October 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Novartis in a research note on Monday, December 29th. Finally, Bank of America raised Novartis from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 25th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Novartis currently has a consensus rating of “Hold” and an average target price of $119.75.

Novartis Trading Up 1.1%

Shares of NVS opened at $145.10 on Thursday. Novartis AG has a 1-year low of $97.71 and a 1-year high of $146.35. The company has a current ratio of 0.88, a quick ratio of 0.68 and a debt-to-equity ratio of 0.50. The firm’s 50-day moving average price is $135.64 and its 200-day moving average price is $128.31. The firm has a market capitalization of $306.51 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 1.87 and a beta of 0.51.

Novartis (NYSE:NVS) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $2.25 earnings per share 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 firm had revenue of $14.36 billion for the quarter, compared to the consensus estimate of $13.70 billion. During the same period in the previous year, the firm posted $2.06 earnings per share. The business’s revenue was up 8.5% compared to the same quarter last year. Sell-side analysts anticipate that Novartis AG will post 8.45 EPS for the current year.

Novartis Company Profile

Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.

The company’s activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.