Callan Capital LLC Grows Position in Novartis AG (NYSE:NVS)

Callan Capital LLC boosted its holdings in shares of Novartis AG (NYSE:NVS) by 24.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,988 shares of the company’s stock after buying an additional 1,762 shares during the quarter. Callan Capital LLC’s holdings in Novartis were worth $957,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Private Ocean LLC purchased a new stake in shares of Novartis during the first quarter valued at $25,000. Frazier Financial Advisors LLC acquired a new position in shares of Novartis during the 4th quarter worth about $26,000. Richardson Financial Services Inc. acquired a new position in shares of Novartis during the 4th quarter worth about $26,000. Clearstead Trust LLC raised its position in shares of Novartis by 73.5% during the 1st quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock worth $26,000 after purchasing an additional 114 shares during the last quarter. Finally, New Millennium Group LLC acquired a new stake in Novartis in the 2nd quarter valued at about $28,000. Institutional investors own 13.12% of the company’s stock.

Novartis Stock Up 0.0 %

NVS stock opened at $116.00 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. 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 simple moving average is $114.14 and its 200 day simple moving average is $105.36. The stock has a market cap of $237.10 billion, a PE ratio of 15.65, a price-to-earnings-growth ratio of 1.75 and a beta of 0.57.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Thursday, July 18th. The company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.10. The business had revenue of $12.87 billion during the quarter, compared to analyst estimates of $12.24 billion. Novartis had a return on equity of 34.56% and a net margin of 33.76%. During the same quarter in the prior year, the firm posted $1.83 earnings per share. As a group, sell-side analysts predict that Novartis AG will post 7.5 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Novartis 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.