Novartis AG $NVS Shares Purchased by Royal Bank of Canada

Key Points

• Royal Bank of Canada increased its Novartis stake by 7.1% in the first quarter, purchasing 40,788 additional shares for a total of 618,710 shares valued at approximately $94.5 million.
• Other institutional investors also raised or initiated positions, with hedge funds and institutions collectively owning 13.12% of Novartis.
• Novartis reported quarterly revenue of $14.95 billion and EPS of $2.41. Although several analysts maintain Buy ratings, the stock’s consensus rating is Hold, with an average price target of $141.20 versus its recent price of $156.18.

Royal Bank of Canada raised its position in Novartis AG (NYSE:NVS - Free Report) by 7.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 618,710 shares of the company's stock after buying an additional 40,788 shares during the period. Royal Bank of Canada's holdings in Novartis were worth $94,508,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of NVS. Empowered Funds LLC boosted its holdings in Novartis by 13.8% in the first quarter. Empowered Funds LLC now owns 68,854 shares of the company's stock valued at $10,517,000 after purchasing an additional 8,329 shares during the last quarter. Maverick Capital Ltd. increased its holdings in Novartis by 37.7% during the 1st quarter. Maverick Capital Ltd. now owns 15,247 shares of the company's stock worth $2,329,000 after purchasing an additional 4,174 shares during the last quarter. Quantinno Capital Management LP increased its holdings in Novartis by 13.1% during the 1st quarter. Quantinno Capital Management LP now owns 340,728 shares of the company's stock worth $52,046,000 after purchasing an additional 39,537 shares during the last quarter. Gateway Wealth Partners LLC acquired a new position in shares of Novartis in the 1st quarter valued at approximately $705,000. Finally, Royal Capital Wealth Management LLC acquired a new position in shares of Novartis in the 1st quarter valued at approximately $213,000. 13.12% of the stock is owned by hedge funds and other institutional investors.

Novartis Stock Down 1.4%

NYSE:NVS opened at $156.18 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.67 and a current ratio of 0.86. The company has a market capitalization of $298.01 billion, a price-to-earnings ratio of 23.56, a price-to-earnings-growth ratio of 2.71 and a beta of 0.45. Novartis AG has a one year low of $112.34 and a one year high of $170.46. The stock has a 50-day simple moving average of $152.66 and a 200 day simple moving average of $152.72.

Novartis (NYSE:NVS - Get Free Report) last announced its quarterly earnings data on Tuesday, June 30th. The company reported $2.41 earnings per share (EPS) for the quarter. Novartis had a return on equity of 38.56% and a net margin of 23.29%.The firm had revenue of $14.95 billion for the quarter. Sell-side analysts predict that Novartis AG will post 8.85 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on NVS. 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 report on Wednesday, July 22nd. Seven 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 stock. According to MarketBeat.com, Novartis presently has a consensus rating of "Hold" and an average target price of $141.20.

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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