Sequoia Financial Advisors LLC grew its position in shares of Novartis AG (NYSE:NVS - Free Report) by 15.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,963 shares of the company's stock after purchasing an additional 5,186 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Novartis were worth $4,594,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the company. Brighton Jones LLC boosted its position in Novartis by 76.5% during the fourth quarter. Brighton Jones LLC now owns 6,153 shares of the company's stock valued at $599,000 after acquiring an additional 2,666 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Novartis by 29.9% in the 1st quarter. GAMMA Investing LLC now owns 6,524 shares of the company's stock valued at $727,000 after purchasing an additional 1,500 shares during the period. Trust Point Inc. acquired a new position in shares of Novartis in the 1st quarter valued at about $613,000. Sowell Financial Services LLC bought a new stake in Novartis in the first quarter worth approximately $722,000. Finally, Sagespring Wealth Partners LLC increased its holdings in Novartis by 67.7% in the first quarter. Sagespring Wealth Partners LLC now owns 5,759 shares of the company's stock worth $642,000 after purchasing an additional 2,325 shares in the last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.
Novartis Price Performance
NVS stock opened at $130.31 on Wednesday. The company has a market capitalization of $275.27 billion, a P/E ratio of 18.97, a price-to-earnings-growth ratio of 1.79 and a beta of 0.64. 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 AG has a 52-week low of $96.06 and a 52-week high of $133.55. The business has a 50-day simple moving average of $125.62 and a two-hundred day simple moving average of $118.16.
Novartis (NYSE:NVS - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The company reported $2.42 EPS for the quarter, beating analysts' consensus estimates of $2.38 by $0.04. Novartis had a return on equity of 41.08% and a net margin of 25.64%.The business had revenue of $14.05 billion during the quarter, compared to analyst estimates of $13.94 billion. During the same period in the prior year, the firm posted $1.97 EPS. Novartis's quarterly revenue was up 12.3% compared to the same quarter last year. Research analysts expect that Novartis AG will post 8.45 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on NVS. Morgan Stanley raised shares of Novartis from an "underweight" rating to an "equal weight" rating and set a $123.00 price objective for the company in a research report on Friday, August 8th. The Goldman Sachs Group reissued a "sell" rating and set a $118.00 target price (down from $119.00) on shares of Novartis in a research note on Friday, September 12th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Novartis in a report on Thursday, August 21st. Weiss Ratings reiterated a "buy (b)" rating on shares of Novartis in a report on Wednesday, October 8th. Finally, Wall Street Zen raised Novartis from a "buy" rating to a "strong-buy" rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $120.33.
Check Out Our Latest Stock Analysis on Novartis
About Novartis
(
Free Report)
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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