Novartis AG (NYSE:NVS) Shares Purchased by Traveka Wealth LLC

Traveka Wealth LLC increased its position in shares of Novartis AG (NYSE:NVS) by 3.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,525 shares of the company’s stock after acquiring an additional 128 shares during the period. Traveka Wealth LLC’s holdings in Novartis were worth $405,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Raymond James & Associates grew its holdings in Novartis by 1.3% during the second quarter. Raymond James & Associates now owns 536,607 shares of the company’s stock worth $57,127,000 after acquiring an additional 6,767 shares during the period. Manning & Napier Advisors LLC purchased a new position in Novartis in the 2nd quarter worth about $15,044,000. O Shaughnessy Asset Management LLC increased its stake in Novartis by 6.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 180,764 shares of the company’s stock worth $17,485,000 after purchasing an additional 11,080 shares in the last quarter. Integral Health Asset Management LLC increased its stake in Novartis by 33.3% in the 2nd quarter. Integral Health Asset Management LLC now owns 300,000 shares of the company’s stock worth $31,938,000 after purchasing an additional 75,000 shares in the last quarter. Finally, FORA Capital LLC purchased a new position in Novartis in the 1st quarter worth about $2,968,000. 13.12% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Novartis Stock Performance

Novartis stock traded down $0.05 during trading hours on Tuesday, reaching $113.81. 137,799 shares of the company were exchanged, compared to its average volume of 1,361,198. The firm has a market cap of $232.63 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 1.71 and a beta of 0.57. The company has a current ratio of 0.93, a quick ratio of 0.72 and a debt-to-equity ratio of 0.47. The stock has a 50-day moving average of $115.43 and a 200 day moving average of $106.68. Novartis AG has a 12 month low of $92.19 and a 12 month high of $120.92.

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

About Novartis

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.