Naviter Wealth LLC Grows Stock Position in Novartis AG $NVS

Naviter Wealth LLC increased its holdings in shares of Novartis AG (NYSE:NVS – Free Report) by 5.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,083 shares of the company’s stock after buying an additional 2,090 shares during the quarter. Naviter Wealth LLC’s holdings in Novartis were worth $5,092,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Ativo Capital Management LLC lifted its position in Novartis by 13.4% during the second quarter. Ativo Capital Management LLC now owns 13,725 shares of the company’s stock worth $1,661,000 after buying an additional 1,625 shares during the period. Cornerstone Wealth Group LLC lifted its position in Novartis by 3.7% during the second quarter. Cornerstone Wealth Group LLC now owns 32,611 shares of the company’s stock worth $3,946,000 after buying an additional 1,173 shares during the period. Hudson Capital Management LLC purchased a new position in Novartis during the second quarter worth about $248,000. Verdence Capital Advisors LLC purchased a new position in Novartis during the second quarter worth about $211,000. Finally, Delaney Dennis R purchased a new position in Novartis during the second quarter worth about $209,000. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on NVS shares. Morgan Stanley upgraded Novartis from an “underweight” rating to an “equal weight” rating and set a $123.00 price objective on the stock in a report on Friday, August 8th. Weiss Ratings restated a “buy (b)” rating on shares of Novartis in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Novartis in a report on Thursday, August 21st. Wall Street Zen upgraded Novartis from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, The Goldman Sachs Group restated a “sell” rating and issued a $118.00 price objective (down from $119.00) on shares of Novartis in a report on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Novartis presently has a consensus rating of “Hold” and a consensus price target of $120.33.

View Our Latest Stock Analysis on NVS

Novartis Stock Performance

Shares of NYSE:NVS opened at $129.31 on Tuesday. The company has a market cap of $273.16 billion, a P/E ratio of 18.82, a PEG ratio of 1.80 and a beta of 0.64. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.62 and a current ratio of 0.82. Novartis AG has a one year low of $96.06 and a one year high of $133.55. The business’s 50-day simple moving average is $125.37 and its 200 day simple moving average is $118.07.

Novartis (NYSE:NVS – Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.38 by $0.04. The business had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $13.94 billion. Novartis had a return on equity of 41.08% and a net margin of 25.64%.The company’s revenue was up 12.3% on a year-over-year basis. During the same period last year, the business posted $1.97 EPS. On average, sell-side analysts forecast that Novartis AG will post 8.45 earnings per share for the current fiscal year.

Novartis Profile

(Free Report)

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.

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