Novartis AG $NVS Position Increased by Empowered Funds LLC

Empowered Funds LLC grew its position in Novartis AG (NYSE:NVS) by 13.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 68,854 shares of the company’s stock after purchasing an additional 8,329 shares during the period. Empowered Funds LLC’s holdings in Novartis were worth $10,517,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in NVS. Arlington Trust Co LLC purchased a new stake in shares of Novartis in the 4th quarter valued at approximately $25,000. Archer Investment Corp grew its position in Novartis by 93.0% during the 1st quarter. Archer Investment Corp now owns 166 shares of the company’s stock worth $25,000 after purchasing an additional 80 shares in the last quarter. CrossGen Wealth LLC acquired a new stake in Novartis during the 4th quarter valued at $28,000. Bank of Jackson Hole Trust raised its stake in Novartis by 425.0% during the 4th quarter. Bank of Jackson Hole Trust now owns 231 shares of the company’s stock valued at $32,000 after purchasing an additional 187 shares during the period. Finally, Measured Wealth Private Client Group LLC purchased a new stake in shares of Novartis in the third quarter valued at $33,000. 13.12% of the stock is owned by hedge funds and other institutional investors.

Novartis Trading Down 0.2%

Shares of NYSE:NVS opened at $158.45 on Friday. The firm has a fifty day moving average of $152.58 and a two-hundred day moving average of $152.70. The firm has a market capitalization of $302.35 billion, a P/E ratio of 23.90, a price-to-earnings-growth ratio of 2.73 and a beta of 0.45. Novartis AG has a 12-month low of $112.34 and a 12-month high of $170.46. The company has a quick ratio of 0.67, a current ratio of 0.86 and a debt-to-equity ratio of 0.89.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Tuesday, June 30th. The company reported $2.41 EPS for the quarter. Novartis had a net margin of 23.29% and a return on equity of 38.56%. The business had revenue of $14.95 billion for the quarter. On average, equities analysts expect that Novartis AG will post 8.82 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NVS has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Novartis in a research report on Friday, July 24th. Citigroup reissued a “buy” rating on shares of Novartis in a research note on Wednesday, July 22nd. Seven equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $141.20.

About Novartis

Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.

The company’s activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.