Novartis AG $NVS Shares Bought by Truist Financial Corp

Key Points

• Truist Financial Corp increased its holdings in Novartis AG by 3.7%, owning 798,467 shares valued at approximately $96.6 million at the end of the second quarter.
• Novartis reported $2.42 EPS for the last quarter, exceeding analysts' expectations, with a revenue increase of 12.3% year-over-year.
• Research analysts have mixed views on Novartis, with ratings ranging from "Strong Buy" to "Sell," and a current consensus rating of "Hold" with an average price target of $120.33.

Truist Financial Corp raised its holdings in Novartis AG (NYSE:NVS - Free Report) by 3.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 798,467 shares of the company's stock after purchasing an additional 28,726 shares during the period. Truist Financial Corp's holdings in Novartis were worth $96,622,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. WPG Advisers LLC purchased a new position in shares of Novartis in the first quarter valued at approximately $25,000. Tsfg LLC lifted its position in shares of Novartis by 366.0% in the first quarter. Tsfg LLC now owns 233 shares of the company's stock valued at $26,000 after acquiring an additional 183 shares in the last quarter. MCF Advisors LLC lifted its position in shares of Novartis by 66.0% in the second quarter. MCF Advisors LLC now owns 264 shares of the company's stock valued at $32,000 after acquiring an additional 105 shares in the last quarter. Alpine Bank Wealth Management purchased a new position in shares of Novartis in the first quarter valued at approximately $33,000. Finally, Investment Management Corp VA ADV lifted its position in shares of Novartis by 172.2% in the first quarter. Investment Management Corp VA ADV now owns 313 shares of the company's stock valued at $35,000 after acquiring an additional 198 shares in the last quarter. 13.12% of the stock is owned by institutional investors and hedge funds.

Novartis Stock Performance

Shares of Novartis stock opened at $131.52 on Thursday. Novartis AG has a one year low of $96.06 and a one year high of $131.96. The company has a market cap of $277.82 billion, a price-to-earnings ratio of 19.14, a PEG ratio of 1.79 and a beta of 0.64. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.62 and a current ratio of 0.82. The business's 50 day moving average price is $123.00 and its 200 day moving average price is $116.91.

Novartis (NYSE:NVS - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The company reported $2.42 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $13.94 billion. During the same quarter last year, the business posted $1.97 earnings per share. The firm's revenue was up 12.3% compared to the same quarter last year. On average, research analysts predict that Novartis AG will post 8.45 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NVS. Morgan Stanley upgraded Novartis from an "underweight" rating to an "equal weight" rating and set a $123.00 target price on the stock in a research report on Friday, August 8th. 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 restated a "sell" rating and issued a $118.00 target price (down previously from $119.00) on shares of Novartis in a research report on Friday, September 12th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Novartis in a research report on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Novartis currently has a consensus rating of "Hold" and an average price target of $120.33.

Novartis 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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