Patriot Financial Group Insurance Agency LLC Raises Stake in Novartis AG $NVS

Key Points

• Patriot Financial Group Insurance Agency LLC increased its stake in Novartis AG by 22.1% during the second quarter, bringing its holdings to 15,617 shares valued at approximately $1,890,000.
• Novartis reported $2.42 EPS for the last quarter, exceeding estimates by $0.04, with revenue of $14.05 billion, marking a 12.3% year-over-year growth.
• Research analysts have mixed ratings on Novartis, with an average target price of $120.33, reflecting a range of recommendations from "strong buy" to "sell".

Patriot Financial Group Insurance Agency LLC boosted its position in Novartis AG (NYSE:NVS - Free Report) by 22.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,617 shares of the company's stock after buying an additional 2,831 shares during the period. Patriot Financial Group Insurance Agency LLC's holdings in Novartis were worth $1,890,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Sonora Investment Management Group LLC purchased a new stake in Novartis in the 2nd quarter worth approximately $266,000. Focus Partners Wealth boosted its position in Novartis by 16.8% in the 1st quarter. Focus Partners Wealth now owns 47,548 shares of the company's stock worth $5,311,000 after purchasing an additional 6,849 shares in the last quarter. Marshall Financial Group LLC purchased a new stake in Novartis in the 2nd quarter worth approximately $1,909,000. Geneos Wealth Management Inc. boosted its position in Novartis by 10.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 33,282 shares of the company's stock worth $3,710,000 after purchasing an additional 3,126 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC boosted its position in Novartis by 9.0% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 3,041 shares of the company's stock worth $339,000 after purchasing an additional 252 shares in the last quarter. Hedge funds and other institutional investors own 13.12% of the company's stock.

Novartis Stock Down 0.6%

NYSE NVS opened at $130.94 on Friday. The business has a fifty day moving average price of $123.28 and a 200 day moving average price of $117.04. Novartis AG has a one year low of $96.06 and a one year high of $131.96. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.62 and a current ratio of 0.82. The company has a market cap of $276.59 billion, a P/E ratio of 19.06, a P/E/G ratio of 1.84 and a beta of 0.64.

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, beating the consensus estimate of $2.38 by $0.04. Novartis had a return on equity of 41.08% and a net margin of 25.64%.The firm had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $13.94 billion. During the same period in the prior year, the company earned $1.97 EPS. The firm's revenue was up 12.3% compared to the same quarter last year. Research analysts anticipate that Novartis AG will post 8.45 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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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