Callan Family Office LLC Raises Stock Holdings in Novartis AG $NVS

Key Points

• Callan Family Office LLC significantly increased its stake in Novartis AG by 233.5% during the second quarter, owning 87,048 shares valued at approximately $10.5 million.
• Analysts have varying views on Novartis, with one brokerage downgrading it from a "strong-buy" to a "buy" rating, while Goldman Sachs issued a sell rating and lowered the price target to $118.00.
• Novartis reported a 12.3% year-over-year increase in revenue for the last quarter, achieving $14.05 billion in revenue with an EPS of $2.42, surpassing estimates.

Callan Family Office LLC raised its position in Novartis AG (NYSE:NVS - Free Report) by 233.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 87,048 shares of the company's stock after buying an additional 60,949 shares during the period. Callan Family Office LLC's holdings in Novartis were worth $10,534,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. GFG Capital LLC acquired a new stake in Novartis in the 2nd quarter worth about $26,000. Leo Wealth LLC raised its position in shares of Novartis by 15.6% during the 2nd quarter. Leo Wealth LLC now owns 16,380 shares of the company's stock valued at $1,982,000 after buying an additional 2,210 shares during the period. Ignite Planners LLC raised its position in shares of Novartis by 3.0% during the 2nd quarter. Ignite Planners LLC now owns 5,970 shares of the company's stock valued at $682,000 after buying an additional 174 shares during the period. Spectrum Asset Management Inc. NB CA purchased a new stake in Novartis in the second quarter valued at approximately $2,984,000. Finally, Venturi Wealth Management LLC raised its position in Novartis by 9.1% in the second quarter. Venturi Wealth Management LLC now owns 12,957 shares of the company's stock valued at $1,568,000 after purchasing an additional 1,081 shares during the period. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on NVS. Wall Street Zen lowered Novartis from a "strong-buy" rating to a "buy" rating in a research report on Friday, August 22nd. Weiss Ratings reiterated a "buy (b)" rating on shares of Novartis in a research note on Wednesday. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Novartis in a research note on Thursday, August 21st. The Goldman Sachs Group restated 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. Finally, Morgan Stanley raised shares of Novartis from an "underweight" rating to an "equal weight" rating and set a $123.00 target price for the company in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $120.33.

Novartis Trading Down 1.0%

Shares of NVS opened at $131.04 on Friday. The firm's 50-day moving average is $124.85 and its two-hundred day moving average is $117.72. The firm has a market capitalization of $276.81 billion, a P/E ratio of 19.07, a PEG ratio of 1.83 and a beta of 0.64. Novartis AG has a twelve month low of $96.06 and a twelve month high of $133.55. The company has a current ratio of 0.82, a quick ratio of 0.62 and a debt-to-equity ratio of 0.53.

Novartis (NYSE:NVS - Get Free Report) last released its quarterly 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 analyst estimates of $13.94 billion. Novartis had a net margin of 25.64% and a return on equity of 41.08%. The company's quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.97 earnings per share. On average, research analysts predict 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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