Dynamic Advisor Solutions LLC Raises Position in Novartis AG $NVS

Key Points

• Dynamic Advisor Solutions LLC increased its stake in Novartis AG by 23.4% after acquiring an additional 3,861 shares, bringing its total holdings to 20,377 shares worth approximately $2.47 million.
• Novartis' recent quarterly earnings report revealed an EPS of $2.42, exceeding expectations, with revenue increasing 12.3% year-over-year to $14.05 billion.
• Analyst ratings on Novartis varied, with a consensus rating of "Hold" and a target price of $120.33, reflecting a mix of upgrades and downgrades from various financial institutions.

Dynamic Advisor Solutions LLC lifted its stake in Novartis AG (NYSE:NVS - Free Report) by 23.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,377 shares of the company's stock after purchasing an additional 3,861 shares during the period. Dynamic Advisor Solutions LLC's holdings in Novartis were worth $2,466,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Nexus Investment Management ULC bought a new position in Novartis in the 1st quarter worth $25,000. WPG Advisers LLC bought a new position in Novartis in the 1st quarter worth $25,000. Tsfg LLC boosted its holdings in Novartis by 366.0% in the 1st quarter. Tsfg LLC now owns 233 shares of the company's stock worth $26,000 after buying an additional 183 shares during the period. Alpine Bank Wealth Management bought a new position in Novartis in the 1st quarter worth $33,000. Finally, Park Square Financial Group LLC bought a new position in Novartis in the 4th quarter worth $30,000. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Novartis Stock Performance

NYSE:NVS traded up $0.55 during mid-day trading on Friday, hitting $122.84. The company's stock had a trading volume of 1,284,721 shares, compared to its average volume of 1,058,087. Novartis AG has a 1 year low of $96.06 and a 1 year high of $130.46. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.82 and a quick ratio of 0.62. The stock has a market cap of $259.49 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 1.71 and a beta of 0.63. The business's fifty day moving average is $121.77 and its two-hundred day moving average is $116.19.

Novartis (NYSE:NVS - Get Free Report) last posted 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. Novartis had a net margin of 25.64% and a return on equity of 41.08%. The company had revenue of $14.05 billion for the quarter, compared to analyst estimates of $13.94 billion. During the same period in the prior year, the company earned $1.97 earnings per share. The firm's revenue was up 12.3% on a year-over-year basis. Analysts anticipate that Novartis AG will post 8.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NVS has been the subject of several recent analyst reports. The Goldman Sachs Group reaffirmed a "sell" rating and issued a $118.00 target price (down previously from $119.00) on shares of Novartis in a report on Friday, September 12th. Morgan Stanley raised shares of Novartis from an "underweight" rating to an "equal weight" rating and set a $123.00 price objective for the company in a report on Friday, August 8th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Novartis in a report on Thursday, August 21st. Finally, Wall Street Zen downgraded shares of Novartis from a "strong-buy" rating to a "buy" rating in a report on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target 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.