Novartis AG (NYSE:NVS) Shares Acquired by Diversify Wealth Management LLC

Diversify Wealth Management LLC lifted its position in shares of Novartis AG (NYSE:NVS) by 17.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,240 shares of the company’s stock after acquiring an additional 1,072 shares during the quarter. Diversify Wealth Management LLC’s holdings in Novartis were worth $717,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Bank of Montreal Can increased its holdings in Novartis by 343.5% in the 2nd quarter. Bank of Montreal Can now owns 657,903 shares of the company’s stock worth $70,652,000 after acquiring an additional 509,567 shares in the last quarter. World Investment Advisors LLC acquired a new stake in shares of Novartis in the third quarter valued at about $30,063,000. Fisher Asset Management LLC increased its stake in shares of Novartis by 15.7% during the third quarter. Fisher Asset Management LLC now owns 1,706,009 shares of the company’s stock worth $196,225,000 after purchasing an additional 231,851 shares in the last quarter. Mediolanum International Funds Ltd acquired a new position in shares of Novartis during the 3rd quarter worth about $24,096,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Novartis in the 3rd quarter valued at about $21,078,000. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on NVS. Erste Group Bank reissued a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. BMO Capital Markets increased their price objective on Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Finally, HSBC cut shares of Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. Two equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $121.50.

Novartis Stock Up 2.2 %

NYSE NVS opened at $99.69 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 0.55. Novartis AG has a 52 week low of $92.35 and a 52 week high of $120.92. The business’s fifty day simple moving average is $100.44 and its 200-day simple moving average is $108.94. The firm has a market cap of $203.76 billion, a PE ratio of 11.58, a P/E/G ratio of 1.34 and a beta of 0.57.

Novartis (NYSE:NVS) last posted its earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.12. The company had revenue of $12.82 billion for the quarter, compared to analyst estimates of $12.62 billion. Novartis had a net margin of 35.96% and a return on equity of 34.80%. During the same period in the previous year, the business posted $1.74 EPS. As a group, equities analysts anticipate that Novartis AG will post 7.63 earnings per share for the current year.

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.