Atomi Financial Group Inc. Has $2.12 Million Position in Novartis AG (NYSE:NVS)

Atomi Financial Group Inc. boosted its position in Novartis AG (NYSE:NVS) by 31.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,391 shares of the company’s stock after buying an additional 4,389 shares during the quarter. Atomi Financial Group Inc.’s holdings in Novartis were worth $2,115,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of NVS. Founders Financial Securities LLC grew its holdings in shares of Novartis by 3.4% in the 2nd quarter. Founders Financial Securities LLC now owns 2,832 shares of the company’s stock valued at $301,000 after acquiring an additional 94 shares in the last quarter. NBC Securities Inc. grew its stake in Novartis by 0.9% in the second quarter. NBC Securities Inc. now owns 10,492 shares of the company’s stock valued at $1,116,000 after purchasing an additional 97 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Novartis by 5.1% in the first quarter. EverSource Wealth Advisors LLC now owns 2,013 shares of the company’s stock valued at $196,000 after purchasing an additional 98 shares in the last quarter. Portside Wealth Group LLC increased its position in shares of Novartis by 3.4% during the 2nd quarter. Portside Wealth Group LLC now owns 3,000 shares of the company’s stock worth $319,000 after purchasing an additional 99 shares during the last quarter. Finally, Evermay Wealth Management LLC raised its stake in shares of Novartis by 9.3% during the 1st quarter. Evermay Wealth Management LLC now owns 1,176 shares of the company’s stock worth $114,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

Analyst Upgrades and Downgrades

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

Novartis Stock Performance

Shares of NVS traded up $0.07 during trading hours on Tuesday, hitting $113.93. The company had a trading volume of 162,267 shares, compared to its average volume of 1,361,324. The business has a fifty day moving average of $115.43 and a 200-day moving average of $106.68. 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 firm has a market cap of $232.87 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 1.71 and a beta of 0.57. Novartis AG has a 12 month low of $92.19 and a 12 month high of $120.92.

Novartis (NYSE:NVS) last announced its quarterly earnings results on Thursday, July 18th. The company reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.10. The business had revenue of $12.87 billion for the quarter, compared to analyst estimates of $12.24 billion. Novartis had a net margin of 33.76% and a return on equity of 34.56%. During the same quarter in the prior year, the business earned $1.83 EPS. Equities analysts anticipate that Novartis AG will post 7.5 EPS 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.