Naviter Wealth LLC Increases Position in Novartis AG $NVS

Key Points

• Naviter Wealth LLC increased its stake in Novartis AG by 5.2% in the second quarter, acquiring a total of 42,083 shares worth approximately $5.1 million.
• Analysts have varying ratings for Novartis, with Morgan Stanley upgrading the stock to an "equal weight" rating and Goldman Sachs setting a target price of $118.00.
• Novartis reported **$2.42 EPS** in its latest earnings, exceeding expectations and showcasing a **12.3% revenue growth** year-over-year.

Naviter Wealth LLC lifted its stake in Novartis AG (NYSE:NVS - Free Report) by 5.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,083 shares of the company's stock after purchasing an additional 2,090 shares during the period. Naviter Wealth LLC's holdings in Novartis were worth $5,092,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NVS. Brighton Jones LLC boosted its stake in shares of Novartis by 76.5% during the 4th quarter. Brighton Jones LLC now owns 6,153 shares of the company's stock worth $599,000 after acquiring an additional 2,666 shares in the last quarter. GAMMA Investing LLC raised its holdings in Novartis by 29.9% during the first quarter. GAMMA Investing LLC now owns 6,524 shares of the company's stock worth $727,000 after purchasing an additional 1,500 shares during the last quarter. Warther Private Wealth LLC purchased a new stake in Novartis during the first quarter worth $233,000. Hanson & Doremus Investment Management boosted its position in Novartis by 624.5% during the first quarter. Hanson & Doremus Investment Management now owns 4,528 shares of the company's stock worth $505,000 after purchasing an additional 3,903 shares in the last quarter. Finally, Trust Point Inc. acquired a new stake in Novartis in the first quarter valued at $613,000. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NVS has been the topic of several research reports. Morgan Stanley raised Novartis from an "underweight" rating to an "equal weight" rating and set a $123.00 target price on the stock in a report on Friday, August 8th. The Goldman Sachs Group reissued 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. Wall Street Zen raised Novartis from a "buy" rating to a "strong-buy" rating in a report on Saturday. Weiss Ratings reissued a "buy (b)" rating on shares of Novartis in a report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Novartis in a report on Thursday, August 21st. 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 given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $120.33.

Novartis Stock Down 0.6%

NVS opened at $129.31 on Tuesday. The company has a quick ratio of 0.62, a current ratio of 0.82 and a debt-to-equity ratio of 0.53. The firm has a market cap of $273.16 billion, a P/E ratio of 18.82, a PEG ratio of 1.80 and a beta of 0.64. Novartis AG has a 52 week low of $96.06 and a 52 week high of $133.55. The business's fifty day simple moving average is $125.37 and its 200 day simple moving average is $118.07.

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, beating analysts' consensus estimates of $2.38 by $0.04. The business had revenue of $14.05 billion for the quarter, compared to analyst estimates of $13.94 billion. Novartis had a return on equity of 41.08% and a net margin of 25.64%.The business's revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.97 earnings per share. As a group, equities research analysts anticipate 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.

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