ICONIQ Capital LLC Acquires 4,228 Shares of Novartis AG $NVS

ICONIQ Capital LLC increased its holdings in shares of Novartis AG (NYSE:NVS) by 53.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 12,135 shares of the company’s stock after acquiring an additional 4,228 shares during the period. ICONIQ Capital LLC’s holdings in Novartis were worth $1,468,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Glenview Trust co grew its holdings in Novartis by 2.3% during the 2nd quarter. Glenview Trust co now owns 3,800 shares of the company’s stock valued at $460,000 after buying an additional 84 shares in the last quarter. Essex Savings Bank boosted its position in shares of Novartis by 1.9% during the second quarter. Essex Savings Bank now owns 4,611 shares of the company’s stock worth $558,000 after acquiring an additional 85 shares during the last quarter. Physician Wealth Advisors Inc. grew its stake in Novartis by 5.8% during the second quarter. Physician Wealth Advisors Inc. now owns 1,541 shares of the company’s stock valued at $186,000 after acquiring an additional 85 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. increased its holdings in Novartis by 4.4% in the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 2,062 shares of the company’s stock valued at $250,000 after acquiring an additional 87 shares during the last quarter. Finally, Forum Financial Management LP lifted its stake in Novartis by 0.4% in the 2nd quarter. Forum Financial Management LP now owns 24,607 shares of the company’s stock worth $2,978,000 after purchasing an additional 88 shares in the last quarter. 13.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NVS. HC Wainwright lowered Novartis to a “neutral” rating in a research report on Monday, October 27th. The Goldman Sachs Group restated a “sell” rating and set a $118.00 price target (down previously from $119.00) on shares of Novartis in a report on Friday, September 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Novartis in a research note on Thursday, August 21st. Cfra set a $126.00 target price on Novartis and gave the company a “hold” rating in a research report on Wednesday, October 29th. Finally, Wall Street Zen upgraded shares of Novartis from a “hold” rating to a “buy” rating in a research report on Friday, November 28th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $119.75.

Novartis Price Performance

NYSE:NVS opened at $132.50 on Friday. The firm has a market capitalization of $279.90 billion, a price-to-earnings ratio of 18.10, a PEG ratio of 1.87 and a beta of 0.52. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.88 and a quick ratio of 0.68. The business has a 50 day simple moving average of $129.41 and a 200-day simple moving average of $123.99. Novartis AG has a 1 year low of $96.06 and a 1 year high of $134.24.

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