Altus Wealth Group LLC Purchases New Stake in Novartis AG (NYSE:NVS)

Altus Wealth Group LLC acquired a new position in shares of Novartis AG (NYSE:NVS - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,439 shares of the company's stock, valued at approximately $495,000.

Other large investors have also recently bought and sold shares of the company. Raiffeisen Bank International AG bought a new position in shares of Novartis in the 4th quarter valued at $25,000. Nexus Investment Management ULC acquired a new stake in Novartis in the first quarter valued at about $25,000. Tsfg LLC grew its position in Novartis by 366.0% in the first quarter. Tsfg LLC now owns 233 shares of the company's stock valued at $26,000 after acquiring an additional 183 shares during the last quarter. Park Square Financial Group LLC acquired a new position in Novartis during the fourth quarter worth about $30,000. Finally, Alpine Bank Wealth Management bought a new position in shares of Novartis in the first quarter worth about $33,000. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Stock Performance

NYSE:NVS opened at $120.30 on Monday. The stock's 50-day moving average is $113.95 and its 200-day moving average is $108.21. Novartis AG has a 1-year low of $96.06 and a 1-year high of $120.92. The company has a current ratio of 0.79, a quick ratio of 0.61 and a debt-to-equity ratio of 0.56. The stock has a market cap of $254.12 billion, a P/E ratio of 18.80, a price-to-earnings-growth ratio of 1.73 and a beta of 0.59.

Novartis (NYSE:NVS - Get Free Report) last posted its 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. Novartis had a net margin of 24.70% and a return on equity of 39.44%. The business had revenue of $13.23 billion for the quarter, compared to the consensus estimate of $12.92 billion. During the same period last year, the company earned $1.80 EPS. The firm's revenue was up 11.9% compared to the same quarter last year. Equities research analysts anticipate that Novartis AG will post 8.45 earnings per share for the current year.

Analysts Set New Price Targets

Separately, BNP Paribas raised shares of Novartis to a "strong-buy" rating in a report on Tuesday, April 15th. Three analysts have rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $123.38.

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.

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