Revisor Wealth Management LLC Buys New Stake in Novartis AG $NVS

Key Points

• Revisor Wealth Management LLC has acquired a new stake in Novartis AG, purchasing 2,304 shares valued at approximately $285,000 during the 2nd quarter.
• Novartis reported a strong quarterly performance with $2.42 earnings per share, surpassing estimates, and 12.3% revenue growth year-over-year.
• Analysts have mixed ratings on Novartis, with Goldman Sachs maintaining a "sell" rating and a target price of $118, while others like Morgan Stanley upgraded to "equal weight" with a $123 target.

Revisor Wealth Management LLC bought a new stake in shares of Novartis AG (NYSE:NVS - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,304 shares of the company's stock, valued at approximately $285,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Dimensional Fund Advisors LP lifted its holdings in shares of Novartis by 5.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,606,724 shares of the company's stock valued at $959,535,000 after acquiring an additional 422,869 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Novartis by 60.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,660,485 shares of the company's stock valued at $408,071,000 after acquiring an additional 1,377,252 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Novartis by 2.2% during the 1st quarter. Northern Trust Corp now owns 2,180,281 shares of the company's stock valued at $243,058,000 after acquiring an additional 47,690 shares in the last quarter. New Vernon Capital Holdings II LLC lifted its holdings in shares of Novartis by 12,664.1% during the 1st quarter. New Vernon Capital Holdings II LLC now owns 1,383,244 shares of the company's stock valued at $154,204,000 after acquiring an additional 1,372,407 shares in the last quarter. Finally, Scharf Investments LLC lifted its holdings in shares of Novartis by 0.3% during the 2nd quarter. Scharf Investments LLC now owns 1,262,444 shares of the company's stock valued at $152,770,000 after acquiring an additional 3,805 shares in the last quarter. Institutional investors and hedge funds own 13.12% of the company's stock.

Novartis Stock Down 0.5%

Shares of Novartis stock opened at $122.80 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 0.82 and a debt-to-equity ratio of 0.53. The firm has a market cap of $259.41 billion, a P/E ratio of 17.88, a P/E/G ratio of 1.73 and a beta of 0.63. Novartis AG has a fifty-two week low of $96.06 and a fifty-two week high of $130.46. The business has a 50-day moving average price of $121.88 and a 200 day moving average price of $116.34.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on NVS shares. The Goldman Sachs Group reaffirmed a "sell" rating and set a $118.00 price target (down previously from $119.00) on shares of Novartis in a research note on Friday, September 12th. Morgan Stanley raised shares of Novartis from an "underweight" rating to an "equal weight" rating and set a $123.00 price target on the stock in a research note on Friday, August 8th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Novartis in a research note on Thursday, August 21st. Finally, Wall Street Zen downgraded shares of Novartis from a "strong-buy" rating to a "buy" rating in a research note on Friday, August 22nd. One equities 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 given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price 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.

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