Parr Mcknight Wealth Management Group LLC Buys 3,149 Shares of Novartis AG (NYSE:NVS)

Parr Mcknight Wealth Management Group LLC grew its stake in Novartis AG (NYSE:NVS - Free Report) by 15.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,885 shares of the company's stock after purchasing an additional 3,149 shares during the period. Parr Mcknight Wealth Management Group LLC's holdings in Novartis were worth $2,663,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. POM Investment Strategies LLC grew its stake in shares of Novartis by 1,275.0% in the 1st quarter. POM Investment Strategies LLC now owns 495 shares of the company's stock valued at $55,000 after purchasing an additional 459 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Novartis by 19.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,222 shares of the company's stock valued at $136,000 after purchasing an additional 200 shares during the period. Principal Securities Inc. grew its stake in shares of Novartis by 0.4% in the 1st quarter. Principal Securities Inc. now owns 28,870 shares of the company's stock valued at $3,218,000 after purchasing an additional 113 shares during the period. Valeo Financial Advisors LLC boosted its holdings in shares of Novartis by 25.9% in the 1st quarter. Valeo Financial Advisors LLC now owns 8,520 shares of the company's stock worth $950,000 after acquiring an additional 1,755 shares in the last quarter. Finally, May Hill Capital LLC boosted its holdings in shares of Novartis by 53.8% in the 1st quarter. May Hill Capital LLC now owns 4,190 shares of the company's stock worth $467,000 after acquiring an additional 1,466 shares in the last quarter. 13.12% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, BNP Paribas raised Novartis to a "strong-buy" rating in a report on Tuesday, April 15th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $123.67.

Novartis Stock Up 1.0%

NYSE:NVS opened at $122.95 on Thursday. The stock's fifty day moving average price is $115.63 and its two-hundred day moving average price is $109.42. Novartis AG has a 52-week low of $96.06 and a 52-week high of $124.45. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.61 and a current ratio of 0.79. The company has a market cap of $259.72 billion, a price-to-earnings ratio of 19.21, a P/E/G ratio of 1.67 and a beta of 0.59.

Novartis (NYSE:NVS - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.16. Novartis had a return on equity of 39.44% and a net margin of 24.70%. The firm had revenue of $13.23 billion for the quarter, compared to the consensus estimate of $12.92 billion. During the same quarter in the prior year, the business earned $1.80 EPS. The business's revenue for the quarter was up 11.9% compared to the same quarter last year. On average, analysts anticipate that Novartis AG will post 8.45 EPS for the current year.

Novartis Company 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.

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