Sagespring Wealth Partners LLC Buys 2,351 Shares of Novartis AG $NVS

Sagespring Wealth Partners LLC boosted its stake in Novartis AG (NYSE:NVS - Free Report) by 40.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,110 shares of the company's stock after purchasing an additional 2,351 shares during the quarter. Sagespring Wealth Partners LLC's holdings in Novartis were worth $981,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. GFG Capital LLC bought a new position in Novartis in the 2nd quarter worth about $26,000. WPG Advisers LLC bought a new position in shares of Novartis in the first quarter valued at approximately $25,000. Tsfg LLC boosted its position in shares of Novartis by 366.0% in the first quarter. Tsfg LLC now owns 233 shares of the company's stock valued at $26,000 after acquiring an additional 183 shares during the period. Barrett & Company Inc. bought a new position in Novartis in the 2nd quarter valued at $31,000. Finally, MCF Advisors LLC boosted its holdings in Novartis by 66.0% in the 2nd quarter. MCF Advisors LLC now owns 264 shares of the company's stock valued at $32,000 after purchasing an additional 105 shares during the period. Institutional investors own 13.12% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Weiss Ratings reissued a "buy (b)" rating on shares of Novartis in a report on Wednesday, October 8th. Morgan Stanley raised 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. Wall Street Zen upgraded Novartis from a "buy" rating to a "strong-buy" rating in a research report on Saturday, October 11th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Novartis in a research report on Thursday, August 21st. Finally, The Goldman Sachs Group reiterated a "sell" rating and set a $118.00 target price (down from $119.00) on shares of Novartis in a research report on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $120.33.

Novartis Trading Down 0.2%

Shares of NVS stock opened at $129.98 on Thursday. The business has a 50-day moving average price of $125.95 and a two-hundred day moving average price of $118.24. The firm has a market cap of $274.56 billion, a P/E ratio of 18.92, a price-to-earnings-growth ratio of 1.80 and a beta of 0.64. Novartis AG has a 12-month low of $96.06 and a 12-month high of $133.55. The company has a quick ratio of 0.62, a current ratio of 0.82 and a debt-to-equity ratio of 0.53.

Novartis (NYSE:NVS - Get Free Report) last released its earnings results on Thursday, July 17th. The company reported $2.42 earnings per share for the quarter, topping analysts' consensus estimates of $2.38 by $0.04. The company had revenue of $14.05 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.97 EPS. Equities analysts anticipate that Novartis AG will post 8.45 EPS for the current fiscal year.

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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