Novartis AG $NVS Shares Purchased by Mission Wealth Management LP

Key Points

• Mission Wealth Management LP increased its Novartis holdings by 85.7% in the second quarter, adding 9,086 shares to own 19,690 shares valued at approximately $3.09 million.
• Other institutional investors also added or expanded positions, although hedge funds and institutional investors collectively own only 13.12% of Novartis shares.
• Analysts have a consensus “Hold” rating with a $141.20 price target. Novartis recently reported quarterly EPS of $2.41 on $14.95 billion in revenue, while shares opened at $152.35.

Mission Wealth Management LP raised its holdings in shares of Novartis AG (NYSE:NVS - Free Report) by 85.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,690 shares of the company's stock after buying an additional 9,086 shares during the period. Mission Wealth Management LP's holdings in Novartis were worth $3,086,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Archer Investment Corp increased its stake in Novartis by 93.0% during the first quarter. Archer Investment Corp now owns 166 shares of the company's stock valued at $25,000 after purchasing an additional 80 shares during the last quarter. Arlington Trust Co LLC bought a new position in shares of Novartis in the 4th quarter worth about $25,000. CrossGen Wealth LLC acquired a new position in shares of Novartis in the 4th quarter valued at about $28,000. Bank of Jackson Hole Trust grew its position in shares of Novartis by 425.0% during the 4th quarter. Bank of Jackson Hole Trust now owns 231 shares of the company's stock valued at $32,000 after buying an additional 187 shares during the last quarter. Finally, Nalls Sherbakoff Group LLC acquired a new stake in Novartis during the fourth quarter worth about $34,000. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on NVS. Weiss Ratings restated a "buy (b)" rating on shares of Novartis in a research note on Friday, July 24th. Citigroup restated a "buy" rating on shares of Novartis in a research report on Wednesday, July 22nd. Seven equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Novartis presently has a consensus rating of "Hold" and a consensus target price of $141.20.

Novartis Stock Down 1.5%

NVS stock opened at $152.35 on Thursday. Novartis AG has a 52-week low of $119.97 and a 52-week high of $170.46. The company's 50 day simple moving average is $153.61 and its 200-day simple moving average is $153.38. 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 market capitalization of $290.71 billion, a P/E ratio of 22.98, a P/E/G ratio of 2.65 and a beta of 0.45.

Novartis (NYSE:NVS - Get Free Report) last posted its quarterly earnings data on Tuesday, June 30th. The company reported $2.41 EPS for the quarter. The firm had revenue of $14.95 billion during the quarter. Novartis had a net margin of 23.29% and a return on equity of 38.56%. As a group, equities research analysts anticipate that Novartis AG will post 8.85 EPS for the current year.

Novartis 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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