Novartis AG $NVS Stock Bought by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada increased its Novartis stake by 20.2% in the third quarter, holding 103,905 shares valued at approximately $14.7 million. Other institutional investors also expanded or initiated positions, though institutions and hedge funds collectively own 13.12% of the stock.
• Novartis shares opened at $150.62, with a market capitalization of $287.4 billion, a P/E ratio of 22.72 and a 52-week trading range of $121.57 to $170.46. The company reported quarterly revenue of $14.95 billion and EPS of $2.41.
• Analyst sentiment is mixed: six analysts rate Novartis a Buy, twelve a Hold and two a Sell, producing an overall Hold consensus and an average price target of $145.60.

TD Waterhouse Canada Inc. grew its holdings in shares of Novartis AG (NYSE:NVS - Free Report) by 20.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 103,905 shares of the company's stock after acquiring an additional 17,448 shares during the period. TD Waterhouse Canada Inc.'s holdings in Novartis were worth $14,661,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. SOA Wealth Advisors LLC. lifted its stake in shares of Novartis by 4,316.2% in the second quarter. SOA Wealth Advisors LLC. now owns 14,750 shares of the company's stock worth $2,312,000 after acquiring an additional 14,416 shares in the last quarter. Mission Wealth Management LP grew its stake in Novartis by 85.7% during the 2nd quarter. Mission Wealth Management LP now owns 19,690 shares of the company's stock valued at $3,086,000 after purchasing an additional 9,086 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Novartis by 40.4% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 195,986 shares of the company's stock valued at $30,715,000 after purchasing an additional 56,424 shares in the last quarter. Somerville Kurt F purchased a new stake in Novartis during the 2nd quarter worth approximately $1,636,000. Finally, Engineers Gate Manager LP purchased a new stake in Novartis during the 2nd quarter worth approximately $4,529,000. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Stock Performance

Shares of NVS stock opened at $150.62 on Monday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.67 and a current ratio of 0.86. Novartis AG has a one year low of $121.57 and a one year high of $170.46. The company's 50-day simple moving average is $148.34 and its 200-day simple moving average is $150.47. The stock has a market capitalization of $287.40 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 2.73 and a beta of 0.41.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on NVS shares. Berenberg Bank cut their target price on Novartis from $147.00 to $130.00 and set a "hold" rating on the stock in a research report on Friday, September 11th. The Goldman Sachs Group reissued a "sell" rating on shares of Novartis in a research report on Monday, September 21st. Citigroup restated a "buy" rating on shares of Novartis in a research note on Wednesday, July 22nd. Jefferies Financial Group restated a "neutral" rating on shares of Novartis in a research note on Thursday, July 23rd. Finally, JPMorgan Chase & Co. reaffirmed a "buy" rating on shares of Novartis in a report on Sunday, August 9th. Six equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $145.60.

Novartis 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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