Curi RMB Capital LLC Purchases New Stake in Novartis AG $NVS

Key Points

• Curi RMB Capital LLC has acquired a new stake in Novartis AG, purchasing 55,850 shares valued at approximately $6.2 million in the first quarter.
• Novartis reported earnings per share of $2.42 for the latest quarter, surpassing expectations, with a revenue increase of 12.3% year-over-year to $14.05 billion.
• Research analysts have mixed views on Novartis, with a current average rating of "Hold" and a consensus target price of $124.33.

Curi RMB Capital LLC acquired a new position in Novartis AG (NYSE:NVS - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 55,850 shares of the company's stock, valued at approximately $6,226,000.

Other large investors also recently added to or reduced their stakes in the company. Raiffeisen Bank International AG bought a new stake in shares of Novartis during the fourth quarter worth approximately $25,000. Nexus Investment Management ULC bought a new position in Novartis in the first quarter valued at approximately $25,000. WPG Advisers LLC acquired a new stake in Novartis during the 1st quarter worth $25,000. Tsfg LLC raised its position in shares of Novartis by 366.0% during the 1st 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. Finally, Park Square Financial Group LLC acquired a new position in shares of Novartis in the 4th quarter valued at $30,000. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Stock Performance

Shares of Novartis stock opened at $128.49 on Friday. Novartis AG has a 12 month low of $96.06 and a 12 month high of $129.21. The company has a current ratio of 0.82, a quick ratio of 0.62 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $271.41 billion, a PE ratio of 18.70, a PEG ratio of 1.80 and a beta of 0.63. The stock's fifty day simple moving average is $121.06 and its 200 day simple moving average is $114.94.

Novartis (NYSE:NVS - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.04. The company had revenue of $14.05 billion during 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 company's revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.97 earnings per share. On average, research analysts predict that Novartis AG will post 8.45 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on NVS shares. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Novartis in a research report on Thursday, August 21st. Morgan Stanley upgraded Novartis from an "underweight" rating to an "equal weight" rating and set a $123.00 target price on the stock in a report on Friday, August 8th. Finally, Wall Street Zen lowered Novartis from a "strong-buy" rating to a "buy" rating in a research report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Novartis currently has an average rating of "Hold" and a consensus target price of $124.33.

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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