Geneos Wealth Management Inc. Purchases 14,032 Shares of Novartis AG $NVS

Geneos Wealth Management Inc. increased its position in Novartis AG (NYSE:NVS) by 27.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 64,760 shares of the company’s stock after purchasing an additional 14,032 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Novartis were worth $8,305,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. GFG Capital LLC bought a new position in shares of Novartis during the 2nd quarter worth about $26,000. Legacy Investment Solutions LLC bought a new position in Novartis during the second quarter worth about $30,000. Barrett & Company Inc. acquired a new stake in Novartis during the second quarter valued at approximately $31,000. MCF Advisors LLC grew its stake in shares of Novartis by 66.0% in the 2nd quarter. MCF Advisors LLC now owns 264 shares of the company’s stock valued at $32,000 after purchasing an additional 105 shares during the period. Finally, Highline Wealth Partners LLC raised its holdings in shares of Novartis by 82.4% in the 2nd quarter. Highline Wealth Partners LLC now owns 290 shares of the company’s stock worth $35,000 after buying an additional 131 shares in the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NVS. HSBC reaffirmed a “reduce” rating and issued a $112.00 price target on shares of Novartis in a research note on Wednesday, December 10th. Cfra Research upgraded shares of Novartis to a “hold” rating in a research report on Wednesday, October 29th. Cowen restated a “hold” rating on shares of Novartis in a research report on Monday, November 10th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $118.00 price objective (down previously from $119.00) on shares of Novartis in a report on Friday, September 12th. Finally, JPMorgan Chase & Co. raised Novartis from a “neutral” rating to an “overweight” rating in a report on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $119.75.

Novartis Trading Down 0.4%

Shares of NYSE NVS opened at $137.92 on Tuesday. Novartis AG has a 1-year low of $97.39 and a 1-year high of $140.18. The company has a 50-day moving average of $131.47 and a two-hundred day moving average of $126.43. The company has a market cap of $291.35 billion, a PE ratio of 18.84, a P/E/G ratio of 1.91 and a beta of 0.51. The company has a current ratio of 0.88, a quick ratio of 0.68 and a debt-to-equity ratio of 0.50.

Novartis (NYSE:NVS) last released its quarterly earnings results on Tuesday, October 28th. The company reported $2.25 EPS for the quarter, missing the consensus estimate of $2.26 by ($0.01). Novartis had a net margin of 26.49% and a return on equity of 41.21%. The company had revenue of $14.36 billion for the quarter, compared to the consensus estimate of $13.70 billion. During the same period last year, the company earned $2.06 earnings per share. Novartis’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, equities analysts expect 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.