Aaron Wealth Advisors LLC Grows Holdings in Novartis AG (NYSE:NVS)

by · The Markets Daily

Aaron Wealth Advisors LLC lifted its position in shares of Novartis AG (NYSE:NVS – Free Report) by 3.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,574 shares of the company’s stock after buying an additional 457 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in Novartis were worth $1,625,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of NVS. Oregon Pacific Wealth Management LLC purchased a new stake in Novartis in the 1st quarter worth approximately $205,000. Keybank National Association OH boosted its holdings in shares of Novartis by 0.5% during the first quarter. Keybank National Association OH now owns 43,635 shares of the company’s stock worth $4,864,000 after purchasing an additional 200 shares during the last quarter. Rossby Financial LCC acquired a new stake in shares of Novartis during the first quarter worth $288,000. Summit Trail Advisors LLC grew its position in shares of Novartis by 10.0% in the first quarter. Summit Trail Advisors LLC now owns 6,360 shares of the company’s stock valued at $734,000 after purchasing an additional 580 shares during the period. Finally, Mather Group LLC. increased its stake in Novartis by 4.2% in the first quarter. Mather Group LLC. now owns 7,911 shares of the company’s stock valued at $882,000 after purchasing an additional 322 shares during the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Trading Up 1.7%

NVS stock opened at $123.06 on Wednesday. The company has a quick ratio of 0.61, a current ratio of 0.79 and a debt-to-equity ratio of 0.56. The company has a market cap of $259.95 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 1.74 and a beta of 0.59. The business has a fifty day simple moving average of $114.40 and a 200-day simple moving average of $108.47. Novartis AG has a 52 week low of $96.06 and a 52 week high of $123.85.

Novartis (NYSE:NVS – Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.12 by $0.16. The company had revenue of $13.23 billion during the quarter, compared to analyst estimates of $12.92 billion. Novartis had a return on equity of 39.44% and a net margin of 24.70%. The firm’s revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.80 earnings per share. On average, equities research analysts expect that Novartis AG will post 8.45 EPS for the current year.

Analyst Ratings Changes

Separately, BNP Paribas raised Novartis to a “strong-buy” rating in a research note on Tuesday, April 15th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Novartis currently has a consensus rating of “Hold” and a consensus price target of $123.38.

Read Our Latest Report on NVS

About Novartis

(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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