Headlands Technologies LLC Grows Stock Holdings in Novartis AG $NVS

Headlands Technologies LLC grew its holdings in shares of Novartis AG (NYSE:NVS) by 262.1% during the second quarter, HoldingsChannel reports. The firm owned 7,145 shares of the company’s stock after purchasing an additional 5,172 shares during the quarter. Headlands Technologies LLC’s holdings in Novartis were worth $1,120,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Archer Investment Corp increased its stake in Novartis by 93.0% in the first quarter. Archer Investment Corp now owns 166 shares of the company’s stock valued at $25,000 after purchasing an additional 80 shares during the last quarter. Evolution Wealth Management Inc. boosted its stake in Novartis by 552.0% in the 2nd quarter. Evolution Wealth Management Inc. now owns 163 shares of the company’s stock worth $26,000 after buying an additional 138 shares during the last quarter. Atlatl Advisers LLC purchased a new stake in Novartis in the 2nd quarter valued at about $26,000. CrossGen Wealth LLC acquired a new position in shares of Novartis during the 4th quarter valued at about $28,000. Finally, Bank of Jackson Hole Trust lifted its holdings in shares of Novartis by 425.0% during the 4th quarter. Bank of Jackson Hole Trust now owns 231 shares of the company’s stock worth $32,000 after acquiring an additional 187 shares during the period. Institutional investors and hedge funds own 13.12% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on NVS shares. Citigroup reaffirmed a “buy” rating on shares of Novartis in a research note on Wednesday, July 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Novartis in a report on Friday, July 24th. Seven research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Novartis has an average rating of “Hold” and a consensus price target of $141.20.

Novartis Price Performance

Shares of NYSE NVS opened at $152.22 on Tuesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.86 and a quick ratio of 0.67. Novartis AG has a 1-year low of $121.57 and a 1-year high of $170.46. The company has a market capitalization of $290.46 billion, a price-to-earnings ratio of 22.96, a PEG ratio of 2.64 and a beta of 0.45. The business has a 50-day moving average of $155.14 and a 200-day moving average of $153.72.

Novartis (NYSE:NVS) last announced its earnings results on Tuesday, June 30th. The company reported $2.41 EPS for the quarter. The business had revenue of $14.95 billion for the quarter. Novartis had a return on equity of 38.56% and a net margin of 23.29%. On average, equities analysts anticipate that Novartis AG will post 8.84 EPS for the current fiscal year.

Novartis Company Profile

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.