Crestwood Advisors Group LLC Purchases Shares of 2,104 Novartis AG (NYSE:NVS)

by · The Cerbat Gem

Crestwood Advisors Group LLC acquired a new position in shares of Novartis AG (NYSE:NVS – Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,104 shares of the company’s stock, valued at approximately $242,000.

Other hedge funds also recently modified their holdings of the company. Martin Investment Management LLC increased its holdings in Novartis by 2.5% during the 3rd quarter. Martin Investment Management LLC now owns 234,636 shares of the company’s stock valued at $26,988,000 after purchasing an additional 5,700 shares in the last quarter. Henry James International Management Inc. grew its holdings in shares of Novartis by 2.8% during the third quarter. Henry James International Management Inc. now owns 45,981 shares of the company’s stock worth $5,289,000 after purchasing an additional 1,245 shares during the last quarter. Blue Square Asset Management LLC grew its holdings in shares of Novartis by 2.1% during the third quarter. Blue Square Asset Management LLC now owns 21,110 shares of the company’s stock worth $2,428,000 after purchasing an additional 426 shares during the last quarter. BSW Wealth Partners raised its holdings in shares of Novartis by 9.0% in the third quarter. BSW Wealth Partners now owns 7,727 shares of the company’s stock valued at $889,000 after buying an additional 637 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in Novartis by 8.4% during the 3rd quarter. Van ECK Associates Corp now owns 310,713 shares of the company’s stock worth $35,443,000 after buying an additional 24,123 shares in the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Jefferies Financial Group cut shares of Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd. Bank of America downgraded Novartis from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $135.00 to $130.00 in a report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Novartis in a research report on Friday, July 19th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $121.00 price target (up previously from $119.00) on shares of Novartis in a report on Thursday, September 5th. Finally, BMO Capital Markets boosted their price objective on Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Novartis currently has an average rating of “Hold” and an average target price of $121.50.

Check Out Our Latest Stock Report on NVS

Novartis Price Performance

Novartis stock opened at $106.81 on Thursday. The firm has a market capitalization of $218.32 billion, a P/E ratio of 12.41, a PEG ratio of 1.61 and a beta of 0.58. The business has a 50-day moving average of $115.11 and a 200-day moving average of $109.55. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 0.55. Novartis AG has a 1 year low of $92.35 and a 1 year high of $120.92.

Novartis (NYSE:NVS – Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.12. The firm had revenue of $12.82 billion during the quarter, compared to analysts’ expectations of $12.62 billion. Novartis had a net margin of 35.96% and a return on equity of 34.80%. During the same quarter in the previous year, the company earned $1.74 earnings per share. On average, equities analysts anticipate that Novartis AG will post 7.56 EPS for the current year.

About Novartis

(Free Report)

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.

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