New Vernon Capital Holdings II LLC Has $154.20 Million Stake in Novartis AG $NVS

Key Points

• New Vernon Capital Holdings II LLC significantly increased its stake in Novartis AG by 12,664.1%, now holding approximately $154.20 million worth of shares, making it the firm's 15th largest holding.
• Several hedge funds have recently acquired positions in Novartis, with institutional investors owning about 13.12% of the company's stock.
• Analyst ratings for Novartis show a consensus "Hold" rating, with a price target of $124.33, following recent adjustments from various brokerages.

New Vernon Capital Holdings II LLC lifted its stake in shares of Novartis AG (NYSE:NVS - Free Report) by 12,664.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,383,244 shares of the company's stock after purchasing an additional 1,372,407 shares during the period. Novartis makes up about 0.7% of New Vernon Capital Holdings II LLC's investment portfolio, making the stock its 15th biggest position. New Vernon Capital Holdings II LLC owned approximately 0.07% of Novartis worth $154,204,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. 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 valued at $99,000 after buying an additional 95 shares during the period. 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 valued at $495,000 after buying an additional 103 shares during the period. 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 valued at $307,000 after buying an additional 104 shares during the period. 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 valued at $315,000 after buying an additional 104 shares during the period. 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 valued at $279,000 after buying an additional 107 shares during the period. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Trading Down 1.4%

NVS traded down $1.74 during trading on Wednesday, reaching $126.31. 579,988 shares of the company's stock were exchanged, compared to its average volume of 1,897,178. Novartis AG has a one year low of $96.06 and a one 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 stock has a market capitalization of $266.82 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 1.80 and a beta of 0.63. The firm has a fifty day moving average price of $121.51 and a two-hundred day moving average price of $115.43.

Novartis (NYSE:NVS - Get Free Report) last posted its earnings results on Thursday, July 17th. The company reported $2.42 earnings per share for the quarter, topping analysts' consensus estimates of $2.38 by $0.04. Novartis had a net margin of 25.64% and a return on equity of 41.08%. The firm 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 posted $1.97 EPS. The company's revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, equities research analysts forecast that Novartis AG will post 8.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on NVS. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Novartis in a report on Thursday, August 21st. Morgan Stanley raised shares of Novartis from an "underweight" rating to an "equal weight" rating and set a $123.00 price target on the stock in a report on Friday, August 8th. Finally, Wall Street Zen lowered shares of 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 given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $124.33.

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.