Novartis AG $NVS Shares Acquired by University of Texas Texas AM Investment Management Co.

Key Points

• University of Texas Texas A&M Investment Management Co. increased its Novartis stake by 988.9% in the third quarter, adding 48,644 shares to hold 53,563 shares valued at about $7.6 million.
• Novartis beat quarterly earnings and revenue estimates, reporting EPS of $2.46 versus $2.25 expected and revenue of $15.03 billion; revenue rose 4.4% year over year.
• Analyst sentiment is mixed: the stock has a consensus “Hold” rating and an average price target of $152.25, below its reported Monday opening price of $162.73.

University of Texas Texas AM Investment Management Co. lifted its holdings in shares of Novartis AG (NYSE:NVS - Free Report) by 988.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 53,563 shares of the company's stock after buying an additional 48,644 shares during the period. Novartis accounts for approximately 1.0% of University of Texas Texas AM Investment Management Co.'s holdings, making the stock its 23rd biggest position. University of Texas Texas AM Investment Management Co.'s holdings in Novartis were worth $7,636,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of NVS. Family Capital Management Inc. grew its holdings in shares of Novartis by 8.5% during the third quarter. Family Capital Management Inc. now owns 3,591 shares of the company's stock valued at $512,000 after purchasing an additional 282 shares during the last quarter. M Holdings Securities Inc. acquired a new stake in shares of Novartis during the 3rd quarter worth approximately $314,000. Brighton Jones LLC raised its position in shares of Novartis by 33.2% during the 3rd quarter. Brighton Jones LLC now owns 11,601 shares of the company's stock worth $1,654,000 after purchasing an additional 2,892 shares during the period. Kimelman & Baird LLC raised its position in shares of Novartis by 46.7% during the 3rd quarter. Kimelman & Baird LLC now owns 10,050 shares of the company's stock worth $1,433,000 after purchasing an additional 3,200 shares during the period. Finally, Ethic Inc. lifted its holdings in shares of Novartis by 15.7% in the 3rd quarter. Ethic Inc. now owns 125,843 shares of the company's stock worth $17,941,000 after purchasing an additional 17,059 shares during the last quarter. Institutional investors and hedge funds own 13.12% of the company's stock.

Novartis Stock Performance

Shares of NYSE NVS opened at $162.73 on Monday. Novartis AG has a 1 year low of $123.24 and a 1 year high of $170.46. The firm has a market cap of $310.51 billion, a P/E ratio of 31.06, a PEG ratio of 2.99 and a beta of 0.40. The stock has a fifty day moving average price of $148.83 and a two-hundred day moving average price of $152.25. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.70 and a current ratio of 0.88.

Novartis (NYSE:NVS - Get Free Report) last posted its quarterly earnings results on Tuesday, October 27th. The company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.25 by $0.21. The company had revenue of $15.03 billion for the quarter, compared to analysts' expectations of $14.53 billion. Novartis had a return on equity of 41.04% and a net margin of 18.11%. The firm's revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.25 earnings per share. Research analysts forecast that Novartis AG will post 9.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NVS. Wall Street Zen upgraded Novartis from a "hold" rating to a "buy" rating in a research note on Saturday, October 31st. UBS Group reiterated a "neutral" rating on shares of Novartis in a research note on Wednesday, October 28th. Berenberg Bank reduced their price target on shares of Novartis from $147.00 to $130.00 and set a "hold" rating for the company in a report on Friday, September 11th. JPMorgan Chase & Co. reissued a "buy" rating on shares of Novartis in a report on Sunday, August 9th. Finally, The Goldman Sachs Group restated a "sell" rating on shares of Novartis in a research report on Monday, September 21st. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Novartis currently has a consensus rating of "Hold" and an average price target of $152.25.

Novartis Profile

Novartis AG is a Swiss pharmaceutical company focused on discovering, developing, manufacturing and commercializing innovative medicines. Its research and products address conditions in areas including oncology, immunology, neuroscience, and cardiovascular, renal and metabolic health.

The company's medicines include treatments such as Kisqali for certain breast cancers, Cosentyx for inflammatory diseases, Entresto for heart failure and Kesimpta for multiple sclerosis. Its portfolio also includes radioligand therapies and other specialized treatments.

Novartis was formed in 1996 through the merger of Swiss companies Ciba-Geigy and Sandoz.

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