Novartis AG $NVS Stock: Kestra Advisory Services LLC Boosts Stake

Key Points

• Kestra Advisory Services increased its Novartis stake by 4.8% in the third quarter, adding 9,001 shares to hold 194,907 shares valued at about $27.8 million.
• Analysts’ consensus rating is Hold, with six Buy, nine Hold, and three Sell ratings and an average price target of $152.25.
• Novartis beat quarterly estimates, reporting EPS of $2.46 versus $2.25 expected and revenue of $15.03 billion versus $14.53 billion; revenue rose 4.4% year over year.

Kestra Advisory Services LLC grew its holdings in shares of Novartis AG (NYSE:NVS - Free Report) by 4.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 194,907 shares of the company's stock after buying an additional 9,001 shares during the quarter. Kestra Advisory Services LLC's holdings in Novartis were worth $27,788,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Claro Advisors Inc. increased its position in shares of Novartis by 50.5% during the 3rd quarter. Claro Advisors Inc. now owns 3,562 shares of the company's stock valued at $508,000 after purchasing an additional 1,196 shares during the last quarter. Telos Capital Management Inc. raised its holdings in Novartis by 1.0% during the 3rd quarter. Telos Capital Management Inc. now owns 25,748 shares of the company's stock valued at $3,671,000 after buying an additional 265 shares during the period. Commonwealth Equity Services LLC lifted its position in Novartis by 2.7% in the third quarter. Commonwealth Equity Services LLC now owns 152,688 shares of the company's stock worth $21,769,000 after buying an additional 3,997 shares during the last quarter. Pathway Financial Advisers LLC bought a new stake in Novartis in the third quarter worth $87,000. Finally, Optimist Retirement Group LLC lifted its position in Novartis by 2.6% in the third quarter. Optimist Retirement Group LLC now owns 17,209 shares of the company's stock worth $2,453,000 after buying an additional 432 shares during the last quarter. Institutional investors own 13.12% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. UBS Group reiterated a "neutral" rating on shares of Novartis in a research report on Wednesday, October 28th. Morgan Stanley restated an "overweight" rating and issued a $163.00 target price on shares of Novartis in a report on Wednesday, October 28th. Citigroup reaffirmed a "buy" rating on shares of Novartis in a research note on Wednesday, July 22nd. DZ Bank initiated coverage on shares of Novartis in a research note on Wednesday, October 28th. They set a "hold" rating for the company. Finally, Jefferies Financial Group reiterated a "neutral" rating on shares of Novartis in a report on Thursday, July 23rd. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $152.25.

Novartis Trading Up 0.5%

Shares of NYSE NVS opened at $162.73 on Friday. Novartis AG has a fifty-two week low of $123.24 and a fifty-two week high of $170.46. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.70 and a current ratio of 0.88. The company has a market cap of $310.51 billion, a price-to-earnings ratio of 31.06, a PEG ratio of 2.99 and a beta of 0.40. The business's 50 day moving average price is $148.83 and its 200-day moving average price is $152.25.

Novartis (NYSE:NVS - Get Free Report) last posted its quarterly earnings data on Tuesday, October 27th. The company reported $2.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.25 by $0.21. The company had revenue of $15.03 billion during the quarter, compared to analysts' expectations of $14.53 billion. Novartis had a return on equity of 41.04% and a net margin of 18.11%. Novartis's revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.25 EPS. On average, sell-side analysts expect that Novartis AG will post 9.04 earnings per share for the current year.

About Novartis

Novartis AG is a Swiss pharmaceutical company focused on discovering, developing, manufacturing and commercializing innovative medicines. Its research and products address conditions in areas including oncology, immunology, neuroscience, and cardiovascular, renal and metabolic health.

The company's medicines include treatments such as Kisqali for certain breast cancers, Cosentyx for inflammatory diseases, Entresto for heart failure and Kesimpta for multiple sclerosis. Its portfolio also includes radioligand therapies and other specialized treatments.

Novartis was formed in 1996 through the merger of Swiss companies Ciba-Geigy and Sandoz.

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