Merit Financial Group LLC Has $3.69 Million Stake in Novartis AG $NVS

Key Points

• Merit Financial Group LLC increased its stake in Novartis AG by 52.8% in Q2, owning 30,520 shares valued at $3.69 million after purchasing additional shares during the period.
• A diverse range of institutional investors have increased their positions in Novartis, with a total of 13.12% institutional ownership noted.
• Analysts have mixed perspectives on Novartis, with ratings ranging from strong buy to sell, and an average price target set at $120.33.

Merit Financial Group LLC increased its holdings in shares of Novartis AG (NYSE:NVS - Free Report) by 52.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 30,520 shares of the company's stock after purchasing an additional 10,542 shares during the period. Merit Financial Group LLC's holdings in Novartis were worth $3,693,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVS. Simplicity Wealth LLC lifted its holdings in shares of Novartis by 140.5% during the second quarter. Simplicity Wealth LLC now owns 8,586 shares of the company's stock worth $1,039,000 after buying an additional 5,016 shares during the last quarter. Apexium Financial LP increased its position in Novartis by 21.9% during the second quarter. Apexium Financial LP now owns 2,613 shares of the company's stock worth $316,000 after acquiring an additional 469 shares during the period. QRG Capital Management Inc. increased its position in Novartis by 3.1% during the second quarter. QRG Capital Management Inc. now owns 191,635 shares of the company's stock worth $23,190,000 after acquiring an additional 5,767 shares during the period. Ascent Group LLC raised its stake in Novartis by 0.7% during the 2nd quarter. Ascent Group LLC now owns 14,121 shares of the company's stock valued at $1,709,000 after purchasing an additional 97 shares during the last quarter. Finally, Barrett & Company Inc. bought a new stake in Novartis in the 2nd quarter valued at $31,000. Institutional investors and hedge funds own 13.12% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Novartis in a report on Thursday, August 21st. Wall Street Zen downgraded Novartis from a "strong-buy" rating to a "buy" rating in a research report on Friday, August 22nd. The Goldman Sachs Group reaffirmed a "sell" rating and issued a $118.00 price target (down previously from $119.00) on shares of Novartis in a report on Friday, September 12th. Weiss Ratings reiterated a "buy (b)" rating on shares of Novartis in a research report on Saturday, September 27th. Finally, Morgan Stanley upgraded Novartis from an "underweight" rating to an "equal weight" rating and set a $123.00 price objective on the stock in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $120.33.

Novartis Price Performance

Shares of NVS stock opened at $132.35 on Tuesday. The stock's fifty day simple moving average is $123.90 and its 200 day simple moving average is $117.38. Novartis AG has a one year low of $96.06 and a one year high of $133.55. The firm has a market cap of $279.58 billion, a price-to-earnings ratio of 19.26, a P/E/G ratio of 1.83 and a beta of 0.64. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.82 and a quick ratio of 0.62.

Novartis (NYSE:NVS - Get Free Report) last released its quarterly earnings data 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. Novartis had a return on equity of 41.08% and a net margin of 25.64%.The firm had revenue of $14.05 billion during the quarter, compared to analyst estimates of $13.94 billion. During the same period in the prior year, the company posted $1.97 earnings per share. The business's revenue for the quarter was up 12.3% compared to the same quarter last year. On average, analysts expect that Novartis AG will post 8.45 earnings per share for the current fiscal year.

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.

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