Savvy Advisors Inc. Has $1.13 Million Stock Position in Novartis AG $NVS

Savvy Advisors Inc. lifted its stake in shares of Novartis AG (NYSE:NVS) by 19.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,328 shares of the company’s stock after purchasing an additional 1,547 shares during the quarter. Savvy Advisors Inc.’s holdings in Novartis were worth $1,129,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NVS. GFG Capital LLC bought a new position in Novartis in the second quarter worth approximately $26,000. WPG Advisers LLC acquired a new position in shares of Novartis during the first quarter worth approximately $25,000. Barrett & Company Inc. acquired a new position in shares of Novartis during the second quarter worth approximately $31,000. MCF Advisors LLC lifted its holdings in shares of Novartis by 66.0% in the 2nd quarter. MCF Advisors LLC now owns 264 shares of the company’s stock worth $32,000 after purchasing an additional 105 shares in the last quarter. Finally, Highline Wealth Partners LLC grew its position in Novartis by 82.4% in the 2nd quarter. Highline Wealth Partners LLC now owns 290 shares of the company’s stock valued at $35,000 after purchasing an additional 131 shares during the period. 13.12% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on NVS shares. Cfra set a $126.00 price objective on shares of Novartis and gave the stock a “hold” rating in a report on Wednesday. The Goldman Sachs Group restated a “sell” rating and issued a $118.00 target price (down previously from $119.00) on shares of Novartis in a report on Friday, September 12th. Morgan Stanley raised shares of Novartis from an “underweight” rating to an “equal weight” rating and set a $123.00 price target on the stock in a research report on Friday, August 8th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Novartis in a report on Thursday, August 21st. Finally, Jefferies Financial Group restated a “hold” rating on shares of Novartis in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $122.33.

Novartis Stock Performance

Shares of NVS opened at $122.71 on Friday. The stock has a 50 day moving average of $127.44 and a 200 day moving average of $120.03. The company has a market capitalization of $259.20 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 1.93 and a beta of 0.64. Novartis AG has a 12 month low of $96.06 and a 12 month high of $133.55. The company has a current ratio of 0.88, a quick ratio of 0.62 and a debt-to-equity ratio of 0.50.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $2.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.01). Novartis had a net margin of 26.49% and a return on equity of 41.21%. The business had revenue of $13.91 billion during the quarter, compared to the consensus estimate of $13.70 billion. During the same quarter last year, the company earned $2.06 EPS. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Novartis AG will post 8.45 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.