Plancorp LLC Acquires 3,719 Shares of Novartis AG $NVS

Key Points

• Plancorp LLC increased its holdings in Novartis AG by 43.4% in Q2, acquiring an additional 3,719 shares, bringing its total to 12,288 shares valued at approximately $1.49 million.
• Novartis reported $2.42 earnings per share for the recent quarter, exceeding analyst expectations and marking a 12.3% year-over-year revenue growth to $14.05 billion.
• Analysts generally maintain a mixed outlook on Novartis, with ratings ranging from Strong Buy to Sell, and an average price target of $120.33.

Plancorp LLC grew its holdings in Novartis AG (NYSE:NVS - Free Report) by 43.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 12,288 shares of the company's stock after purchasing an additional 3,719 shares during the period. Plancorp LLC's holdings in Novartis were worth $1,487,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Focus Partners Wealth lifted its holdings in Novartis by 16.8% during the 1st quarter. Focus Partners Wealth now owns 47,548 shares of the company's stock worth $5,311,000 after buying an additional 6,849 shares during the period. Marshall Financial Group LLC bought a new stake in Novartis during the 2nd quarter worth approximately $1,909,000. Geneos Wealth Management Inc. increased its holdings in Novartis by 10.4% during 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. Wealthcare Advisory Partners LLC increased its holdings in Novartis by 9.0% during 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. Finally, Dynamic Advisor Solutions LLC grew its holdings in shares of Novartis by 23.4% in the second quarter. Dynamic Advisor Solutions LLC now owns 20,377 shares of the company's stock valued at $2,466,000 after acquiring an additional 3,861 shares in the last quarter. Institutional investors own 13.12% of the company's stock.

Novartis Stock Up 0.1%

Shares of NYSE:NVS opened at $122.95 on Thursday. Novartis AG has a 52-week low of $96.06 and a 52-week high of $130.46. The firm has a market capitalization of $259.72 billion, a P/E ratio of 17.90, a P/E/G ratio of 1.72 and a beta of 0.63. The stock has a 50 day moving average price of $121.97 and a 200-day moving average price of $116.38. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.62 and a current ratio of 0.82.

Novartis (NYSE:NVS - Get Free Report) last released its earnings results on Thursday, July 17th. The company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.04. Novartis had a net margin of 25.64% and a return on equity of 41.08%. The firm had revenue of $14.05 billion during the quarter, compared to analyst estimates of $13.94 billion. During the same period last year, the business earned $1.97 earnings per share. The business's revenue was up 12.3% on a year-over-year basis. As a group, equities research analysts anticipate that Novartis AG will post 8.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Novartis in a research note on Thursday, August 21st. The Goldman Sachs Group reiterated 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. Wall Street Zen cut Novartis from a "strong-buy" rating to a "buy" rating in a research note on Friday, August 22nd. Finally, Morgan Stanley raised Novartis from an "underweight" rating to an "equal weight" rating and set a $123.00 target price on the stock in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Novartis presently 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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