Park Avenue Securities LLC Raises Position in Novartis AG $NVS

Key Points

• Park Avenue Securities LLC increased its holdings in Novartis AG by 18.9% during the second quarter, now owning 55,319 shares valued at approximately $6.69 million.
• Several institutional investors have modified their positions in Novartis, with a cumulative 13.12% of the stock owned by these entities.
• Novartis reported earnings of $2.42 per share, exceeding analyst estimates, and its quarterly revenue rose 12.3% year-over-year to $14.05 billion.

Park Avenue Securities LLC lifted its position in shares of Novartis AG (NYSE:NVS - Free Report) by 18.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,319 shares of the company's stock after purchasing an additional 8,811 shares during the period. Park Avenue Securities LLC's holdings in Novartis were worth $6,694,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of NVS. Essex Savings Bank lifted its holdings in shares of Novartis by 1.9% in the 2nd quarter. Essex Savings Bank now owns 4,611 shares of the company's stock worth $558,000 after acquiring an additional 85 shares during the last quarter. Physician Wealth Advisors Inc. lifted its stake in Novartis by 5.8% during the 2nd quarter. Physician Wealth Advisors Inc. now owns 1,541 shares of the company's stock valued at $186,000 after acquiring an additional 85 shares during the period. Gallacher Capital Management LLC lifted its stake in shares of Novartis by 1.7% in the 2nd quarter. Gallacher Capital Management LLC now owns 5,371 shares of the company's stock worth $650,000 after purchasing an additional 92 shares during the period. Osprey Private Wealth LLC raised its stake in Novartis by 1.5% during the 2nd quarter. Osprey Private Wealth LLC now owns 6,675 shares of the company's stock worth $814,000 after acquiring an additional 100 shares during the period. Finally, Tranquilli Financial Advisor LLC raised its stake in Novartis by 2.4% during the 1st quarter. Tranquilli Financial Advisor LLC now owns 4,438 shares of the company's stock worth $495,000 after acquiring an additional 103 shares during the period. Hedge funds and other institutional investors own 13.12% of the company's stock.

Novartis Stock Up 0.4%

NYSE NVS traded up $0.51 during mid-day trading on Monday, reaching $123.44. 992,438 shares of the company's stock traded hands, compared to its average volume of 1,055,355. The company has a market cap of $260.76 billion, a price-to-earnings ratio of 17.97, a P/E/G ratio of 1.72 and a beta of 0.63. Novartis AG has a 1-year low of $96.06 and a 1-year high of $130.46. The company has a current ratio of 0.82, a quick ratio of 0.62 and a debt-to-equity ratio of 0.53. The company has a fifty day simple moving average of $121.81 and a 200-day simple moving average of $116.29.

Novartis (NYSE:NVS - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The company reported $2.42 EPS for the quarter, topping analysts' consensus estimates of $2.38 by $0.04. Novartis had a return on equity of 41.08% and a net margin of 25.64%.The company had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $13.94 billion. During the same quarter in the previous year, the business earned $1.97 EPS. The company's quarterly revenue was up 12.3% compared to the same quarter last year. As a group, equities research analysts expect that Novartis AG will post 8.45 EPS for the current year.

Analyst Ratings Changes

Several research firms have commented on NVS. Morgan Stanley raised shares of Novartis from an "underweight" rating to an "equal weight" rating and set a $123.00 price objective for the company in a research note on Friday, August 8th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Novartis in a research note on Thursday, August 21st. The Goldman Sachs Group reissued a "sell" rating and issued a $118.00 price target (down from $119.00) on shares of Novartis in a report on Friday, September 12th. Finally, Wall Street Zen downgraded Novartis from a "strong-buy" rating to a "buy" rating in a research note on Friday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $120.33.

Novartis Profile

Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.