HB Wealth Management LLC Purchases 3,582 Shares of Novartis AG $NVS

HB Wealth Management LLC lifted its position in shares of Novartis AG (NYSE:NVS) by 26.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 16,939 shares of the company’s stock after purchasing an additional 3,582 shares during the quarter. HB Wealth Management LLC’s holdings in Novartis were worth $2,172,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank of Montreal Can boosted its stake in Novartis by 489.1% during the second quarter. Bank of Montreal Can now owns 564,990 shares of the company’s stock worth $68,369,000 after buying an additional 469,080 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Novartis by 5.3% in the second quarter. Fisher Asset Management LLC now owns 7,121,414 shares of the company’s stock valued at $861,762,000 after acquiring an additional 358,282 shares during the last quarter. Balyasny Asset Management L.P. grew its holdings in shares of Novartis by 52.9% during the second quarter. Balyasny Asset Management L.P. now owns 876,956 shares of the company’s stock worth $106,120,000 after purchasing an additional 303,553 shares during the last quarter. Midwest Trust Co acquired a new stake in Novartis in the 2nd quarter valued at about $32,297,000. Finally, Ameriprise Financial Inc. raised its position in Novartis by 63.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 631,131 shares of the company’s stock worth $76,374,000 after purchasing an additional 244,037 shares during the last quarter. 13.12% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Barclays upgraded Novartis from an “underweight” rating to an “equal weight” rating in a report on Tuesday, January 6th. Cfra set a $126.00 target price on shares of Novartis and gave the company a “hold” rating in a research note on Wednesday, October 29th. Jefferies Financial Group reissued a “hold” rating on shares of Novartis in a research note on Monday, October 27th. Bank of America upgraded shares of Novartis from a “neutral” rating to a “buy” rating in a report on Tuesday, November 25th. Finally, Cfra Research raised shares of Novartis to a “hold” rating in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $119.75.

Novartis Price Performance

NYSE NVS opened at $141.53 on Friday. The stock has a market cap of $298.96 billion, a price-to-earnings ratio of 19.33, a PEG ratio of 1.95 and a beta of 0.51. Novartis AG has a 52-week low of $97.39 and a 52-week high of $143.49. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.68 and a current ratio of 0.88. The business has a 50 day simple moving average of $132.97 and a 200 day simple moving average of $127.05.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.01). The company had revenue of $14.36 billion for the quarter, compared to analyst estimates of $13.70 billion. Novartis had a return on equity of 41.21% and a net margin of 26.49%.The company’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.06 earnings per share. Analysts anticipate that Novartis AG will post 8.45 earnings per share 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.