4,392 Shares in Novartis AG $NVS Purchased by Financial & Tax Architects LLC

Financial & Tax Architects LLC bought a new position in Novartis AG (NYSE:NVS) in the 3rd quarter, Holdings Channel reports. The fund bought 4,392 shares of the company’s stock, valued at approximately $626,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NVS. Turtle Creek Wealth Advisors LLC bought a new stake in Novartis during the 3rd quarter worth approximately $430,000. KG Capital Management lifted its holdings in Novartis by 11.9% during the third quarter. KG Capital Management now owns 2,289 shares of the company’s stock valued at $326,000 after purchasing an additional 243 shares in the last quarter. Mather Group LLC. boosted its position in shares of Novartis by 1.4% in the third quarter. Mather Group LLC. now owns 9,708 shares of the company’s stock worth $1,384,000 after purchasing an additional 138 shares during the period. Hudock Inc. boosted its position in shares of Novartis by 12.1% in the third quarter. Hudock Inc. now owns 2,410 shares of the company’s stock worth $344,000 after purchasing an additional 261 shares during the period. Finally, Triumph Capital Management boosted its position in shares of Novartis by 9.8% in the third quarter. Triumph Capital Management now owns 826 shares of the company’s stock worth $118,000 after purchasing an additional 74 shares during the period. Institutional investors own 13.12% of the company’s stock.

Novartis Trading Up 2.4%

NVS stock opened at $150.34 on Friday. Novartis AG has a 1-year low of $121.57 and a 1-year high of $170.46. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.86 and a quick ratio of 0.67. The company has a market capitalization of $286.86 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 2.66 and a beta of 0.41. The business has a 50 day simple moving average of $148.46 and a two-hundred day simple moving average of $150.47.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Tuesday, June 30th. The company reported $2.41 earnings per share (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 during the quarter. Research analysts anticipate that Novartis AG will post 8.91 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on NVS shares. Bank of America reissued a “buy” rating on shares of Novartis in a research note on Tuesday, September 8th. UBS Group reissued a “neutral” rating on shares of Novartis in a report on Thursday, September 17th. Citigroup reissued a “buy” rating on shares of Novartis in a report on Wednesday, July 22nd. Jefferies Financial Group restated a “neutral” rating on shares of Novartis in a research report on Thursday, July 23rd. Finally, Berenberg Bank lowered their price objective on Novartis from $147.00 to $130.00 and set a “hold” rating on the stock in a research report on Friday, September 11th. Six equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Novartis currently has a consensus rating of “Hold” and an average price target of $145.60.

About Novartis

Novartis AG is a Switzerland-based pharmaceutical company focused on the discovery, development and commercialization of innovative medicines. The company’s research and commercial activities center on cardiovascular, renal and metabolic diseases, immunology, neuroscience, oncology and hematology. Its portfolio includes prescription medicines such as Entresto, Cosentyx, Kesimpta, Kisqali, Pluvicto, Leqvio and Jakavi, as well as other therapies for serious and chronic conditions.

Novartis serves patients and healthcare providers in markets worldwide, with operations spanning North America, Europe, Asia and other international regions.