Novartis AG $NVS Shares Newly Purchased by Leo Wealth LLC

Key Points

• Leo Wealth LLC purchased 9,718 Novartis shares in the third quarter, valued at approximately $1.386 million.
• Institutional ownership of Novartis stands at 13.12%, with several major investors—including Bank of America, Envestnet and Sei Investments—also increasing their positions.
• Analysts maintain a consensus “Hold” rating with a target price of $145.60. Novartis shares recently opened at $153.93, compared with a 12-month range of $121.57 to $170.46.

Leo Wealth LLC bought a new stake in shares of Novartis AG (NYSE:NVS - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 9,718 shares of the company's stock, valued at approximately $1,386,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of NVS. Bank of America Corp DE increased its position in Novartis by 9.1% in the 1st quarter. Bank of America Corp DE now owns 4,962,794 shares of the company's stock valued at $758,067,000 after acquiring an additional 413,778 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Novartis by 0.8% in the second quarter. Envestnet Asset Management Inc. now owns 2,330,979 shares of the company's stock worth $365,308,000 after purchasing an additional 19,595 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Novartis by 1.9% in the first quarter. Janus Henderson Group PLC now owns 2,275,938 shares of the company's stock worth $347,649,000 after purchasing an additional 41,520 shares in the last quarter. WCM Investment Management LLC bought a new position in shares of Novartis in the first quarter worth $220,004,000. Finally, Sei Investments Co. increased its holdings in shares of Novartis by 9.6% during the first quarter. Sei Investments Co. now owns 619,274 shares of the company's stock valued at $94,594,000 after purchasing an additional 54,262 shares during the period. Institutional investors own 13.12% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on NVS shares. Sanford C. Bernstein restated a "neutral" rating on shares of Novartis in a research note on Wednesday, July 22nd. UBS Group restated a "neutral" rating on shares of Novartis in a research report on Thursday, September 17th. JPMorgan Chase & Co. reaffirmed a "buy" rating on shares of Novartis in a report on Sunday, August 9th. HSBC upgraded Novartis from a "reduce" rating to a "hold" rating and increased their price objective for the company from $123.00 to $136.00 in a research report on Thursday, September 10th. Finally, Royal Bank Of Canada began coverage on Novartis in a research report on Tuesday, September 8th. They set a "sector perform" rating for the company. Six equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $145.60.

Novartis Stock Performance

Shares of Novartis stock opened at $153.93 on Tuesday. Novartis AG has a 12 month low of $121.57 and a 12 month high of $170.46. The company has a quick ratio of 0.67, a current ratio of 0.86 and a debt-to-equity ratio of 0.89. The stock has a market cap of $293.72 billion, a PE ratio of 23.22, a price-to-earnings-growth ratio of 2.74 and a beta of 0.41. The business has a fifty day simple moving average of $148.13 and a 200-day simple moving average of $151.40.

Novartis Company Profile

Novartis AG is a Switzerland-based pharmaceutical company focused on the discovery, development and commercialization of innovative medicines. The company's research and commercial activities span areas including cardiovascular, renal and metabolic diseases, immunology, neuroscience, oncology and hematology. Its portfolio includes prescription medicines such as Entresto, Cosentyx, Kisqali, Kesimpta, Leqvio, Pluvicto and Scemblix.

Novartis serves patients and healthcare providers in markets around the world.

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