Cornerstone Wealth Group LLC raised its position in Novartis AG (NYSE:NVS – Free Report) by 5.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,671 shares of the company’s stock after purchasing an additional 1,549 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Novartis were worth $2,887,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Xponance Inc. purchased a new position in Novartis in the second quarter worth approximately $233,000. AQR Capital Management LLC increased its position in shares of Novartis by 257.7% during the 2nd quarter. AQR Capital Management LLC now owns 9,702 shares of the company’s stock worth $1,033,000 after purchasing an additional 6,990 shares during the last quarter. Ascent Group LLC increased its position in shares of Novartis by 5.7% during the 2nd quarter. Ascent Group LLC now owns 6,416 shares of the company’s stock worth $683,000 after purchasing an additional 345 shares during the last quarter. Creative Planning raised its holdings in Novartis by 4.7% in the 2nd quarter. Creative Planning now owns 331,465 shares of the company’s stock valued at $35,288,000 after buying an additional 14,858 shares during the period. Finally, Magnolia Capital Advisors LLC purchased a new position in Novartis during the second quarter worth about $2,267,000. Hedge funds and other institutional investors own 13.12% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on NVS shares. HSBC downgraded shares of Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. BMO Capital Markets upped their price target on Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, Novartis currently has an average rating of “Hold” and an average price target of $123.38.
Novartis Price Performance
Novartis stock opened at $99.93 on Monday. 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 firm has a market cap of $204.25 billion, a PE ratio of 11.61, a price-to-earnings-growth ratio of 1.42 and a beta of 0.57. The company’s 50 day moving average is $100.09 and its two-hundred day moving average is $108.69.
Novartis (NYSE:NVS – Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.12. Novartis had a return on equity of 34.80% and a net margin of 35.96%. The business had revenue of $12.82 billion for the quarter, compared to analysts’ expectations of $12.62 billion. During the same period last year, the firm earned $1.74 earnings per share. On average, research analysts expect that Novartis AG will post 7.62 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.
See Also
- Five stocks we like better than Novartis
- Short Selling: How to Short a Stock
- D-Wave: Recent Updates Propel Shares Off 2025 Lows
- How to Effectively Use the MarketBeat Ratings Screener
- Health-Tech Revival: 3 Stocks Set for a Big 2025 Rebound
- Industrial Products Stocks Investing
- How the $500 Billion Stargate Investment Can Boost These Stocks
Want to see what other hedge funds are holding NVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Novartis AG (NYSE:NVS – Free Report).
Receive News & Ratings for Novartis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novartis and related companies with MarketBeat.com's FREE daily email newsletter.