Managed Asset Portfolios LLC Raises Position in Novartis AG $NVS

Managed Asset Portfolios LLC lifted its holdings in shares of Novartis AG (NYSE:NVS) by 1.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 197,040 shares of the company’s stock after purchasing an additional 2,290 shares during the quarter. Novartis comprises about 3.1% of Managed Asset Portfolios LLC’s investment portfolio, making the stock its 13th biggest position. Managed Asset Portfolios LLC’s holdings in Novartis were worth $23,844,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Essex Savings Bank boosted its stake in Novartis by 1.9% in the 2nd quarter. Essex Savings Bank now owns 4,611 shares of the company’s stock worth $558,000 after buying an additional 85 shares during the last quarter. Physician Wealth Advisors Inc. increased its stake in shares of Novartis by 5.8% during the 2nd quarter. Physician Wealth Advisors Inc. now owns 1,541 shares of the company’s stock valued at $186,000 after acquiring an additional 85 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. lifted its holdings in shares of Novartis by 4.4% during the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 2,062 shares of the company’s stock worth $250,000 after acquiring an additional 87 shares during the period. Forum Financial Management LP lifted its holdings in shares of Novartis by 0.4% during the 2nd quarter. Forum Financial Management LP now owns 24,607 shares of the company’s stock worth $2,978,000 after acquiring an additional 88 shares during the period. Finally, Avidian Wealth Enterprises LLC boosted its position in shares of Novartis by 1.2% in the second quarter. Avidian Wealth Enterprises LLC now owns 7,749 shares of the company’s stock worth $938,000 after acquiring an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Stock Performance

Shares of NVS stock opened at $128.01 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.62 and a debt-to-equity ratio of 0.50. The company has a market cap of $270.41 billion, a PE ratio of 17.49, a P/E/G ratio of 1.93 and a beta of 0.60. The company’s fifty day simple moving average is $127.62 and its 200-day simple moving average is $121.67. Novartis AG has a 52 week low of $96.06 and a 52 week high of $134.00.

Novartis (NYSE:NVS) last announced 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). 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 analysts’ expectations of $13.70 billion. During the same period last year, the company posted $2.06 earnings per share. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, equities research analysts anticipate that Novartis AG will post 8.45 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on NVS. Jefferies Financial Group reaffirmed a “hold” rating on shares of Novartis in a research report on Monday, October 27th. HC Wainwright downgraded Novartis to a “neutral” rating in a report on Monday, October 27th. Cowen reaffirmed a “hold” rating on shares of Novartis in a research report on Monday, November 10th. Cfra Research raised Novartis to a “hold” rating in a research report on Wednesday, October 29th. Finally, The Goldman Sachs Group restated a “sell” rating and set a $118.00 price target (down from $119.00) on shares of Novartis in a research note on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Novartis has a consensus rating of “Hold” and an average target price of $122.33.

Novartis 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.