3,511 Shares in Novartis AG $NVS Purchased by Pure Financial Advisors LLC

Key Points

• Pure Financial Advisors LLC purchased 3,511 shares of Novartis AG, valued at approximately $425,000, in the second quarter.
• Novartis stock opened at $132.41 and achieved a market cap of $279.70 billion; it has a consensus rating of "Hold" with a price target of $120.33.
• Recent analyst ratings varied, with Wall Street Zen downgrading Novartis from "strong-buy" to "buy," while Deutsche Bank maintained a "buy" rating.

Pure Financial Advisors LLC acquired a new position in shares of Novartis AG (NYSE:NVS - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 3,511 shares of the company's stock, valued at approximately $425,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SOA Wealth Advisors LLC. acquired a new position in Novartis in the 2nd quarter valued at about $40,000. First Pacific Financial purchased a new position in shares of Novartis in the 2nd quarter valued at about $3,153,000. Bartlett & CO. Wealth Management LLC boosted its stake in shares of Novartis by 0.7% in the 2nd quarter. Bartlett & CO. Wealth Management LLC now owns 85,823 shares of the company's stock valued at $10,385,000 after buying an additional 636 shares during the period. PFG Investments LLC boosted its stake in shares of Novartis by 3.8% in the 2nd quarter. PFG Investments LLC now owns 3,050 shares of the company's stock valued at $369,000 after buying an additional 112 shares during the period. Finally, Truist Financial Corp boosted its stake in shares of Novartis by 3.7% in the 2nd quarter. Truist Financial Corp now owns 798,467 shares of the company's stock valued at $96,622,000 after buying an additional 28,726 shares during the period. 13.12% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Wall Street Zen cut Novartis from a "strong-buy" rating to a "buy" rating in a research note on Friday, August 22nd. Weiss Ratings reiterated a "buy (b)" rating on shares of Novartis in a research note on Saturday, September 27th. Morgan Stanley upgraded Novartis from an "underweight" rating to an "equal weight" rating and set a $123.00 price objective for the company in a research note on Friday, August 8th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Novartis in a research note on Thursday, August 21st. Finally, The Goldman Sachs Group reiterated a "sell" rating and issued a $118.00 price objective (down previously from $119.00) on shares of Novartis in a research note on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $120.33.

Novartis Price Performance

NVS stock opened at $132.41 on Friday. The business has a 50 day moving average price of $123.57 and a 200 day moving average price of $117.18. The stock has a market cap of $279.70 billion, a price-to-earnings ratio of 19.27, a PEG ratio of 1.83 and a beta of 0.64. Novartis AG has a fifty-two week low of $96.06 and a fifty-two week high of $133.37. The company has a quick ratio of 0.62, a current ratio of 0.82 and a debt-to-equity ratio of 0.53.

Novartis (NYSE:NVS - Get Free Report) last posted its earnings results on Thursday, July 17th. The company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.04. Novartis had a return on equity of 41.08% and a net margin of 25.64%.The firm had revenue of $14.05 billion during the quarter, compared to analysts' expectations of $13.94 billion. During the same quarter in the previous year, the business earned $1.97 earnings per share. The firm's revenue was up 12.3% compared to the same quarter last year. Equities research analysts anticipate that Novartis AG will post 8.45 earnings per share for the current fiscal year.

About Novartis

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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