Novartis AG (NYSE:NVS) Shares Bought by Greenup Street Wealth Management LLC

by · The Markets Daily

Greenup Street Wealth Management LLC lifted its holdings in shares of Novartis AG (NYSE:NVS – Free Report) by 6.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 35,979 shares of the company’s stock after buying an additional 2,111 shares during the period. Greenup Street Wealth Management LLC’s holdings in Novartis were worth $4,138,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in shares of Novartis by 23.1% in the second quarter. Dimensional Fund Advisors LP now owns 7,407,692 shares of the company’s stock valued at $788,626,000 after buying an additional 1,389,610 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Novartis by 0.6% during the 1st quarter. Janus Henderson Group PLC now owns 2,568,728 shares of the company’s stock worth $248,473,000 after purchasing an additional 16,015 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Novartis by 0.6% during the 1st quarter. Principal Financial Group Inc. now owns 2,523,334 shares of the company’s stock worth $244,082,000 after purchasing an additional 14,686 shares during the period. Mondrian Investment Partners LTD increased its holdings in shares of Novartis by 40.1% in the 1st quarter. Mondrian Investment Partners LTD now owns 2,065,739 shares of the company’s stock valued at $199,819,000 after purchasing an additional 590,830 shares in the last quarter. Finally, Magnetar Financial LLC lifted its stake in shares of Novartis by 53.7% in the first quarter. Magnetar Financial LLC now owns 1,906,046 shares of the company’s stock valued at $184,372,000 after purchasing an additional 666,104 shares during the period. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Stock Performance

NYSE:NVS opened at $116.51 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.93 and a debt-to-equity ratio of 0.47. The company has a market cap of $238.15 billion, a P/E ratio of 14.77, a P/E/G ratio of 1.73 and a beta of 0.57. Novartis AG has a fifty-two week low of $92.19 and a fifty-two week high of $120.92. The firm’s 50 day moving average is $116.20 and its two-hundred day moving average is $107.75.

Novartis (NYSE:NVS – Get Free Report) last posted its quarterly earnings results on Thursday, July 18th. The company reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.10. The company had revenue of $12.87 billion for the quarter, compared to the consensus estimate of $12.24 billion. Novartis had a net margin of 33.76% and a return on equity of 34.56%. During the same quarter last year, the firm posted $1.83 earnings per share. Analysts expect that Novartis AG will post 7.52 EPS for the current year.

Analyst Ratings Changes

A number of research firms have commented on NVS. The Goldman Sachs Group reiterated a “neutral” rating and set a $121.00 target price (up from $119.00) on shares of Novartis in a research report on Thursday, September 5th. Bank of America cut shares of Novartis from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $135.00 to $130.00 in a research note on Wednesday, September 11th. Jefferies Financial Group cut shares of Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Novartis in a report on Friday, July 19th. Finally, Barclays raised shares of Novartis to a “strong sell” rating in a research note on Monday, June 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $120.70.

Check Out Our Latest Analysis on Novartis

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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