Vise Technologies Inc. Invests $3.34 Million in Novartis AG $NVS

Vise Technologies Inc. bought a new stake in Novartis AG (NYSE:NVS) during the second quarter, HoldingsChannel.com reports. The fund bought 27,627 shares of the company’s stock, valued at approximately $3,343,000.

Several other hedge funds have also bought and sold shares of NVS. Allworth Financial LP increased its position in Novartis by 1.0% during the second quarter. Allworth Financial LP now owns 95,858 shares of the company’s stock worth $11,600,000 after buying an additional 971 shares during the last quarter. Addison Advisors LLC boosted its stake in shares of Novartis by 8.6% during the 2nd quarter. Addison Advisors LLC now owns 2,972 shares of the company’s stock worth $360,000 after acquiring an additional 236 shares during the period. Americana Partners LLC increased its holdings in shares of Novartis by 3.1% during the 2nd quarter. Americana Partners LLC now owns 26,547 shares of the company’s stock worth $3,212,000 after acquiring an additional 792 shares during the last quarter. Altman Advisors Inc. raised its stake in Novartis by 3.3% in the 2nd quarter. Altman Advisors Inc. now owns 17,000 shares of the company’s stock valued at $2,093,000 after acquiring an additional 547 shares during the period. Finally, King Luther Capital Management Corp lifted its holdings in Novartis by 27.4% during the 2nd quarter. King Luther Capital Management Corp now owns 14,106 shares of the company’s stock valued at $1,707,000 after purchasing an additional 3,038 shares during the last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Stock Performance

NYSE NVS opened at $127.07 on Tuesday. The company has a quick ratio of 0.62, a current ratio of 0.88 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $268.43 billion, a P/E ratio of 17.36, a P/E/G ratio of 1.93 and a beta of 0.60. Novartis AG has a 12-month low of $96.06 and a 12-month high of $133.55. The firm has a 50-day moving average price of $127.31 and a two-hundred day moving average price of $120.91.

Novartis (NYSE:NVS) last announced its 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 return on equity of 41.21% and a net margin of 26.49%.The business had revenue of $13.91 billion for the quarter, compared to the consensus estimate of $13.70 billion. During the same period in the prior year, the business posted $2.06 earnings per share. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. Analysts anticipate that Novartis AG will post 8.45 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have commented on NVS. Wall Street Zen downgraded shares of Novartis from a “strong-buy” rating to a “hold” rating in a report on Saturday, November 1st. HC Wainwright lowered shares of Novartis to a “neutral” rating in a research note on Monday, October 27th. Cfra Research upgraded shares of Novartis to a “hold” rating in a research report on Wednesday, October 29th. Weiss Ratings restated a “buy (b-)” rating on shares of Novartis in a report on Friday, October 31st. Finally, The Goldman Sachs Group reiterated a “sell” rating and set a $118.00 target price (down previously from $119.00) on shares of Novartis in a research note on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company 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.