Novartis AG $NVS Stock Acquired by South Shore Capital Advisors

Key Points

• South Shore Capital Advisors increased its Novartis position by 986% in the third quarter, acquiring 28,299 additional shares and ending with 31,169 shares valued at approximately $4.48 million.
• Several major institutional investors also raised their stakes, while institutional investors and hedge funds collectively owned 13.12% of Novartis.
• Novartis shares recently traded at $153.43, above the analyst consensus price target of $145.60; analysts’ overall rating remains “Hold,” with six Buy, 12 Hold, and two Sell ratings.

South Shore Capital Advisors grew its position in shares of Novartis AG (NYSE:NVS - Free Report) by 986.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,169 shares of the company's stock after purchasing an additional 28,299 shares during the quarter. Novartis makes up about 3.0% of South Shore Capital Advisors' portfolio, making the stock its 6th biggest holding. South Shore Capital Advisors' holdings in Novartis were worth $4,475,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in NVS. Bank of America Corp DE increased its holdings in Novartis by 9.1% in the first quarter. Bank of America Corp DE now owns 4,962,794 shares of the company's stock valued at $758,067,000 after buying an additional 413,778 shares in the last quarter. Envestnet Asset Management Inc. raised its position 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 acquiring an additional 19,595 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Novartis by 1.9% during the 1st quarter. Janus Henderson Group PLC now owns 2,275,938 shares of the company's stock worth $347,649,000 after acquiring an additional 41,520 shares in the last quarter. WCM Investment Management LLC purchased a new stake in shares of Novartis during the 1st quarter worth about $220,004,000. Finally, Sei Investments Co. grew its position in shares of Novartis by 9.6% during the 1st quarter. Sei Investments Co. now owns 619,274 shares of the company's stock valued at $94,594,000 after acquiring an additional 54,262 shares during the period. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Price Performance

NVS traded up $3.23 during midday trading on Tuesday, hitting $153.43. 761,166 shares of the company traded hands, compared to its average volume of 1,982,610. The company has a current ratio of 0.86, a quick ratio of 0.67 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $292.76 billion, a price-to-earnings ratio of 23.14, a PEG ratio of 2.73 and a beta of 0.41. Novartis AG has a 52-week low of $121.57 and a 52-week high of $170.46. The business has a 50 day simple moving average of $148.21 and a two-hundred day simple moving average of $150.45.

Novartis (NYSE:NVS - Get Free Report) last announced its earnings results on Tuesday, June 30th. The company reported $2.41 earnings per share (EPS) for the quarter. The business had revenue of $14.95 billion for the quarter. Novartis had a net margin of 23.29% and a return on equity of 38.56%. On average, equities analysts forecast that Novartis AG will post 8.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Royal Bank Of Canada initiated coverage on Novartis in a research note on Tuesday, September 8th. They issued a "sector perform" rating for the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Novartis in a report on Friday, July 24th. HSBC upgraded Novartis from a "reduce" rating to a "hold" rating and increased their price target for the stock from $123.00 to $136.00 in a research report on Thursday, September 10th. UBS Group reissued a "neutral" rating on shares of Novartis in a report on Thursday, September 17th. Finally, The Goldman Sachs Group restated a "sell" rating on shares of Novartis in a research report on Monday, September 21st. Six investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $145.60.

About Novartis

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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