First Pacific Financial Takes $3.15 Million Position in Novartis AG $NVS

Key Points

• First Pacific Financial has acquired a new stake in Novartis AG, purchasing 26,055 shares valued at approximately $3.15 million during the 2nd quarter.
• Novartis reported $2.42 EPS for the quarter, surpassing analysts' expectations and showing a revenue increase of 12.3% year-over-year, amounting to $14.05 billion.
• Analysts hold a consensus rating of "Hold" for Novartis, with price targets ranging from $118.00 to $123.00, reflecting varying outlooks on the stock's potential performance.

First Pacific Financial purchased a new stake in shares of Novartis AG (NYSE:NVS - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 26,055 shares of the company's stock, valued at approximately $3,153,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. WPG Advisers LLC bought a new position in shares of Novartis during the 1st quarter valued at $25,000. Tsfg LLC increased its stake in shares of Novartis by 366.0% in the 1st quarter. Tsfg LLC now owns 233 shares of the company's stock worth $26,000 after purchasing an additional 183 shares in the last quarter. MCF Advisors LLC increased its stake in shares of Novartis by 66.0% in the 2nd quarter. MCF Advisors LLC now owns 264 shares of the company's stock worth $32,000 after purchasing an additional 105 shares in the last quarter. Highline Wealth Partners LLC increased its stake in shares of Novartis by 82.4% in the 2nd quarter. Highline Wealth Partners LLC now owns 290 shares of the company's stock worth $35,000 after purchasing an additional 131 shares in the last quarter. Finally, Maseco LLP purchased a new stake in shares of Novartis in the 2nd quarter worth $36,000. 13.12% of the stock is owned by institutional investors.

Novartis Stock Performance

Shares of NYSE:NVS opened at $128.18 on Wednesday. The firm has a 50 day moving average of $122.73 and a 200 day moving average of $116.81. The company has a market capitalization of $270.77 billion, a price-to-earnings ratio of 18.66, a price-to-earnings-growth ratio of 1.74 and a beta of 0.63. 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 52 week low of $96.06 and a 52 week high of $130.46.

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. Novartis had a return on equity of 41.08% and a net margin of 25.64%.The business had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $13.94 billion. During the same period in the prior year, the firm posted $1.97 earnings per share. The business's quarterly revenue was up 12.3% on a year-over-year basis. On average, sell-side analysts predict that Novartis AG will post 8.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Morgan Stanley upgraded Novartis from an "underweight" rating to an "equal weight" rating and set a $123.00 price objective for the company in a research note on Friday, August 8th. Wall Street Zen lowered Novartis from a "strong-buy" rating to a "buy" rating in a research note on Friday, August 22nd. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Novartis in a research note on Thursday, August 21st. Finally, The Goldman Sachs Group restated a "sell" rating and set a $118.00 price objective (down previously from $119.00) on shares of Novartis in a research report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $120.33.

Novartis Company 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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