Crux Wealth Advisors Boosts Position in Novartis AG $NVS

Key Points

• Crux Wealth Advisors increased its stake in Novartis AG by 46.4% in the second quarter, now holding 10,146 shares valued at approximately $1.23 million.
• Novartis recently reported earnings of $2.42 per share for the quarter, exceeding analysts' expectations and showing a 12.3% increase in revenue year-over-year.
• Several analysts have updated their ratings on Novartis, with a consensus rating of "Hold" and a target price of approximately $120.33.

Crux Wealth Advisors raised its stake in Novartis AG (NYSE:NVS - Free Report) by 46.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,146 shares of the company's stock after buying an additional 3,218 shares during the period. Crux Wealth Advisors' holdings in Novartis were worth $1,228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. Essex Savings Bank boosted its holdings in shares of Novartis by 1.9% in the second quarter. Essex Savings Bank now owns 4,611 shares of the company's stock valued at $558,000 after purchasing an additional 85 shares during the period. Physician Wealth Advisors Inc. lifted its holdings in shares of Novartis by 5.8% in the 2nd quarter. Physician Wealth Advisors Inc. now owns 1,541 shares of the company's stock worth $186,000 after buying an additional 85 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. grew its position in shares of Novartis by 4.4% during the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 2,062 shares of the company's stock worth $250,000 after buying an additional 87 shares in the last quarter. Gallacher Capital Management LLC increased its stake in shares of Novartis by 1.7% during the second quarter. Gallacher Capital Management LLC now owns 5,371 shares of the company's stock valued at $650,000 after buying an additional 92 shares during the period. Finally, Ascent Group LLC increased its stake in shares of Novartis by 0.7% during the second quarter. Ascent Group LLC now owns 14,121 shares of the company's stock valued at $1,709,000 after buying an additional 97 shares during the period. 13.12% of the stock is owned by hedge funds and other institutional investors.

Novartis Price Performance

Shares of NVS opened at $131.46 on Friday. The company has a 50 day moving average of $126.54 and a two-hundred day moving average of $118.58. 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 AG has a twelve month low of $96.06 and a twelve month high of $133.55. The company has a market cap of $277.69 billion, a price-to-earnings ratio of 19.13, a price-to-earnings-growth ratio of 1.82 and a beta of 0.64.

Novartis (NYSE:NVS - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $2.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business's quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.97 earnings per share. As a group, analysts predict that Novartis AG will post 8.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on NVS shares. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Novartis in a report on Thursday, August 21st. Wall Street Zen upgraded shares of Novartis from a "buy" rating to a "strong-buy" rating in a research note on Saturday, October 11th. Morgan Stanley raised shares of 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. The Goldman Sachs Group restated a "sell" rating and set a $118.00 target price (down previously from $119.00) on shares of Novartis in a report on Friday, September 12th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Novartis in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Novartis currently has a consensus rating of "Hold" and a consensus target price of $120.33.

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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