Register Financial Advisors LLC Purchases New Stake in Novartis AG (NYSE:NVS)

Register Financial Advisors LLC purchased a new stake in Novartis AG (NYSE:NVS) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 581 shares of the company’s stock, valued at approximately $56,000.

Several other hedge funds have also added to or reduced their stakes in NVS. Wellington Management Group LLP boosted its holdings in Novartis by 1.2% during the fourth quarter. Wellington Management Group LLP now owns 4,746,599 shares of the company’s stock worth $479,264,000 after buying an additional 54,683 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Novartis by 2.4% during the fourth quarter. Fisher Asset Management LLC now owns 1,442,003 shares of the company’s stock worth $145,599,000 after purchasing an additional 33,791 shares during the period. Natixis Advisors L.P. raised its position in shares of Novartis by 0.4% during the fourth quarter. Natixis Advisors L.P. now owns 931,127 shares of the company’s stock worth $94,014,000 after purchasing an additional 3,270 shares during the period. Truist Financial Corp raised its position in shares of Novartis by 10.9% during the third quarter. Truist Financial Corp now owns 863,859 shares of the company’s stock worth $87,993,000 after purchasing an additional 85,075 shares during the period. Finally, Chevy Chase Trust Holdings LLC raised its position in shares of Novartis by 11.3% during the fourth quarter. Chevy Chase Trust Holdings LLC now owns 815,804 shares of the company’s stock worth $82,372,000 after purchasing an additional 82,909 shares during the period. Institutional investors own 13.12% of the company’s stock.

Wall Street Analyst Weigh In

NVS has been the topic of a number of research analyst reports. Barclays raised Novartis to a “strong sell” rating in a research report on Monday, June 24th. BMO Capital Markets lifted their target price on Novartis from $114.00 to $116.00 and gave the company a “market perform” rating in a research report on Wednesday, April 24th. Finally, The Goldman Sachs Group initiated coverage on Novartis in a research report on Thursday, May 30th. They issued a “buy” rating and a $120.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $116.67.

Novartis Stock Down 0.1 %

Shares of Novartis stock opened at $106.46 on Friday. The business’s 50 day simple moving average is $102.22 and its 200 day simple moving average is $101.19. Novartis AG has a 52-week low of $92.19 and a 52-week high of $108.78. The firm has a market cap of $217.60 billion, a PE ratio of 14.37, a P/E/G ratio of 1.64 and a beta of 0.58. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.71 and a current ratio of 0.90.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.07. The firm had revenue of $11.83 billion for the quarter, compared to analyst estimates of $11.50 billion. Novartis had a return on equity of 32.15% and a net margin of 31.33%. On average, analysts predict that Novartis AG will post 7.27 earnings per share for the current fiscal 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.