Novartis AG (NYSE:NVS) Shares Bought by Integral Health Asset Management LLC

Integral Health Asset Management LLC lifted its position in Novartis AG (NYSE:NVS) by 33.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 300,000 shares of the company’s stock after acquiring an additional 75,000 shares during the quarter. Novartis accounts for approximately 3.0% of Integral Health Asset Management LLC’s holdings, making the stock its 8th largest position. Integral Health Asset Management LLC’s holdings in Novartis were worth $31,938,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Private Ocean LLC acquired a new position in shares of Novartis in the 1st quarter worth approximately $25,000. Richardson Financial Services Inc. bought a new stake in shares of Novartis in the 4th quarter worth approximately $26,000. New Millennium Group LLC bought a new stake in shares of Novartis in the 2nd quarter worth approximately $28,000. Clearstead Trust LLC lifted its holdings in shares of Novartis by 73.5% in 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, Lynx Investment Advisory bought a new stake in shares of Novartis in the 2nd quarter worth approximately $29,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Stock Down 0.0 %

Shares of Novartis stock opened at $115.94 on Monday. The business’s fifty day moving average price is $114.22 and its two-hundred day moving average price is $105.50. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.93 and a quick ratio of 0.72. The company has a market capitalization of $236.98 billion, a P/E ratio of 15.65, a PEG ratio of 1.75 and a beta of 0.57. Novartis AG has a 1-year low of $92.19 and a 1-year high of $120.92.

Novartis (NYSE:NVS) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $12.24 billion. During the same quarter in the previous year, the business earned $1.83 EPS. As a group, research analysts forecast that Novartis AG will post 7.5 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. 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 report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Novartis in a report on Friday, July 19th. Jefferies Financial Group downgraded Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. Barclays raised Novartis to a “strong sell” rating in a research note on Monday, June 24th. Finally, Bank of America downgraded Novartis from a “buy” rating to a “neutral” rating and cut their target price for the company from $135.00 to $130.00 in a research note on Wednesday, September 11th. One investment 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. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $120.70.

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.