32,292 Shares in Novartis AG $NVS Acquired by Kingstone Capital Partners Texas LLC

Key Points

• Kingstone Capital Partners Texas LLC acquired 32,292 shares of Novartis AG, valued at approximately $3.9 million, during the second quarter of this year.
• Novartis' latest quarterly earnings report revealed earnings per share of $2.42, surpassing expectations, and reflecting a 12.3% increase in revenue compared to the previous year.
• Recent analyst ratings on Novartis vary, with some upgrading to "equal weight" while others maintain a "sell" rating, resulting in an average target price of $120.33.

Kingstone Capital Partners Texas LLC purchased a new stake in Novartis AG (NYSE:NVS - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 32,292 shares of the company's stock, valued at approximately $3,908,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NVS. Nexus Investment Management ULC bought a new position in shares of Novartis in the 1st quarter valued at approximately $25,000. WPG Advisers LLC bought a new stake in Novartis in the 1st quarter valued at $25,000. Tsfg LLC grew its position in Novartis by 366.0% during the first quarter. Tsfg LLC now owns 233 shares of the company's stock worth $26,000 after buying an additional 183 shares in the last quarter. Park Square Financial Group LLC acquired a new position in shares of Novartis in the fourth quarter valued at $30,000. Finally, Alpine Bank Wealth Management acquired a new stake in Novartis during the first quarter valued at approximately $33,000. 13.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on NVS. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Novartis in a report on Thursday, August 21st. Morgan Stanley upgraded Novartis from an "underweight" rating to an "equal weight" rating and set a $123.00 price target on the stock in a research report on Friday, August 8th. The Goldman Sachs Group reissued a "sell" rating and issued a $118.00 price objective (down previously from $119.00) on shares of Novartis in a research note on Friday, September 12th. Finally, Wall Street Zen cut 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 assigned a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $120.33.

Novartis Trading Up 0.4%

NVS traded up $0.51 during midday trading on Monday, hitting $123.44. 992,438 shares of the company were exchanged, compared to its average volume of 1,870,115. The firm has a market capitalization of $260.76 billion, a P/E ratio of 17.97, a P/E/G ratio of 1.72 and a beta of 0.63. The firm's 50 day moving average price is $121.77 and its 200-day moving average price is $116.24. 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 1-year low of $96.06 and a 1-year high of $130.46.

Novartis (NYSE:NVS - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The company reported $2.42 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 company had revenue of $14.05 billion for the quarter, compared to analyst estimates of $13.94 billion. During the same period in the previous year, the firm earned $1.97 earnings per share. The firm'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 fiscal year.

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.