Geneos Wealth Management Inc. Acquires 3,126 Shares of Novartis AG $NVS

Key Points

• Geneos Wealth Management Inc. has increased its holdings in Novartis AG by 10.4% in the 1st quarter, now owning 33,282 shares valued at approximately $3.71 million.
• Novartis reported a quarterly earnings per share of $2.42, beating expectations, with revenue of $14.05 billion, marking a 12.3% year-over-year increase.
• Recent analyst ratings show a mix of opinions on Novartis stock, with one analyst downgrading to "buy" and others giving ratings ranging from "Strong Buy" to "Sell".

Geneos Wealth Management Inc. increased its holdings in Novartis AG (NYSE:NVS - Free Report) by 10.4% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 33,282 shares of the company's stock after buying an additional 3,126 shares during the quarter. Geneos Wealth Management Inc.'s holdings in Novartis were worth $3,710,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Continuum Advisory LLC increased its holdings in Novartis by 10.3% in the 4th quarter. Continuum Advisory LLC now owns 1,021 shares of the company's stock worth $99,000 after buying an additional 95 shares in the last quarter. Tranquilli Financial Advisor LLC increased its holdings in Novartis by 2.4% in the 1st quarter. Tranquilli Financial Advisor LLC now owns 4,438 shares of the company's stock worth $495,000 after buying an additional 103 shares in the last quarter. Intergy Private Wealth LLC increased its holdings in Novartis by 3.9% in the 1st quarter. Intergy Private Wealth LLC now owns 2,757 shares of the company's stock worth $307,000 after buying an additional 104 shares in the last quarter. Keudell Morrison Wealth Management increased its holdings in Novartis by 3.8% in the 1st quarter. Keudell Morrison Wealth Management now owns 2,828 shares of the company's stock worth $315,000 after buying an additional 104 shares in the last quarter. Finally, Chicago Partners Investment Group LLC increased its holdings in Novartis by 4.5% in the 1st quarter. Chicago Partners Investment Group LLC now owns 2,495 shares of the company's stock worth $279,000 after buying an additional 107 shares in the last quarter. 13.12% of the stock is currently owned by institutional investors.

Novartis Stock Down 1.2%

NVS opened at $126.49 on Thursday. Novartis AG has a 1-year low of $96.06 and a 1-year high of $130.46. 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 $267.20 billion, a PE ratio of 18.41, a PEG ratio of 1.79 and a beta of 0.63. The firm's 50 day simple moving average is $121.56 and its two-hundred day simple moving average is $115.51.

Novartis (NYSE:NVS - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The company reported $2.42 earnings per share for the quarter, beating 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 firm had revenue of $14.05 billion for the quarter, compared to analysts' expectations of $13.94 billion. During the same period in the previous year, the firm earned $1.97 EPS. The business's quarterly revenue was up 12.3% on a year-over-year basis. As a group, equities analysts forecast that Novartis AG will post 8.45 EPS for the current year.

Wall Street Analyst Weigh In

NVS has been the subject of several research analyst reports. Wall Street Zen downgraded Novartis from a "strong-buy" rating to a "buy" rating in a report on Friday, August 22nd. Morgan Stanley upgraded Novartis from an "underweight" rating to an "equal weight" rating and set a $123.00 price target for the company in a research note on Friday, August 8th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Novartis in a research note on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Novartis currently has an average rating of "Hold" and an average target price of $121.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.