Novartis AG $NVS Shares Bought by Empowered Funds LLC

Key Points

• Empowered Funds LLC increased its Novartis stake by 13.8% in the first quarter, purchasing 8,329 additional shares for a total of 68,854 shares valued at approximately $10.5 million.
• Several other institutional investors also expanded their positions, while institutional investors and hedge funds collectively own 13.12% of Novartis.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $141.20. Novartis reported quarterly revenue of $14.95 billion and earnings of $2.41 per share, while its stock opened at $158.45.

Empowered Funds LLC boosted its holdings in shares of Novartis AG (NYSE:NVS - Free Report) by 13.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 68,854 shares of the company's stock after buying an additional 8,329 shares during the quarter. Empowered Funds LLC's holdings in Novartis were worth $10,517,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. BXM Wealth LLC grew its position in Novartis by 726.9% in the 4th quarter. BXM Wealth LLC now owns 42,817 shares of the company's stock valued at $5,903,000 after buying an additional 37,639 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Novartis by 14.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 113,737 shares of the company's stock worth $15,681,000 after buying an additional 14,352 shares in the last quarter. HF Advisory Group LLC raised its position in shares of Novartis by 401.0% during the 4th quarter. HF Advisory Group LLC now owns 54,741 shares of the company's stock worth $7,547,000 after buying an additional 43,814 shares in the last quarter. Concurrent Investment Advisors LLC lifted its stake in shares of Novartis by 36.6% in the 4th quarter. Concurrent Investment Advisors LLC now owns 14,815 shares of the company's stock worth $2,043,000 after acquiring an additional 3,967 shares during the period. Finally, Evergreen Capital Management LLC boosted its holdings in shares of Novartis by 68.2% in the fourth quarter. Evergreen Capital Management LLC now owns 47,245 shares of the company's stock valued at $6,514,000 after acquiring an additional 19,155 shares in the last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on NVS shares. Weiss Ratings reiterated a "buy (b)" rating on shares of Novartis in a research note on Friday, July 24th. Citigroup reaffirmed a "buy" rating on shares of Novartis in a research note on Wednesday, July 22nd. Seven investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Novartis presently has a consensus rating of "Hold" and an average price target of $141.20.

Novartis Stock Down 0.2%

NVS stock opened at $158.45 on Friday. The firm has a market cap of $302.35 billion, a PE ratio of 23.90, a P/E/G ratio of 2.73 and a beta of 0.45. Novartis AG has a 12 month low of $112.34 and a 12 month high of $170.46. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.86 and a quick ratio of 0.67. The firm has a 50 day simple moving average of $152.58 and a 200 day simple moving average of $152.70.

Novartis (NYSE:NVS - Get Free Report) last posted its quarterly earnings results on Tuesday, June 30th. The company reported $2.41 earnings per share (EPS) for the quarter. Novartis had a net margin of 23.29% and a return on equity of 38.56%. The firm had revenue of $14.95 billion for the quarter. Equities research analysts forecast that Novartis AG will post 8.82 earnings per share for the current fiscal year.

Novartis Company Profile

Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.

The company's activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.

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