Logan Capital Management Inc. Buys 6,058 Shares of Novartis AG $NVS

Logan Capital Management Inc. lifted its stake in Novartis AG (NYSE:NVS) by 11.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 58,363 shares of the company’s stock after purchasing an additional 6,058 shares during the quarter. Logan Capital Management Inc.’s holdings in Novartis were worth $8,047,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of NVS. Todd Asset Management LLC lifted its position in Novartis by 5.8% during the 3rd quarter. Todd Asset Management LLC now owns 439,879 shares of the company’s stock valued at $56,411,000 after purchasing an additional 23,978 shares during the period. Fisher Asset Management LLC raised its stake in shares of Novartis by 1.7% during the third quarter. Fisher Asset Management LLC now owns 7,239,366 shares of the company’s stock worth $928,376,000 after buying an additional 117,952 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Novartis by 18.1% in the third quarter. JPMorgan Chase & Co. now owns 537,543 shares of the company’s stock valued at $68,935,000 after buying an additional 82,226 shares during the period. BXM Wealth LLC boosted its stake in Novartis by 726.9% in the fourth quarter. BXM Wealth LLC now owns 42,817 shares of the company’s stock valued at $5,903,000 after acquiring an additional 37,639 shares during the last quarter. Finally, Spire Wealth Management grew its holdings in Novartis by 2,561.0% during the 4th quarter. Spire Wealth Management now owns 38,983 shares of the company’s stock worth $5,375,000 after acquiring an additional 37,518 shares during the period. Institutional investors own 13.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on NVS shares. Morgan Stanley upped their target price on shares of Novartis from $143.00 to $170.00 and gave the company an “overweight” rating in a research report on Thursday, March 26th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Novartis in a research note on Thursday, February 12th. TD Cowen reiterated a “hold” rating on shares of Novartis in a report on Tuesday, February 17th. Argus upgraded Novartis from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a report on Wednesday, March 11th. Finally, Sanford C. Bernstein upgraded Novartis to a “hold” rating in a research report on Thursday, March 19th. Seven investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $141.20.

Novartis Stock Performance

NVS stock opened at $153.96 on Friday. Novartis AG has a 1-year low of $112.34 and a 1-year high of $170.46. The company has a current ratio of 0.85, a quick ratio of 0.65 and a debt-to-equity ratio of 0.96. The firm has a market cap of $293.77 billion, a PE ratio of 22.06, a P/E/G ratio of 2.61 and a beta of 0.46. The business’s 50-day moving average price is $149.51 and its two-hundred day moving average price is $148.03.

Novartis (NYSE:NVS) last released its quarterly earnings results on Monday, April 27th. The company reported $1.99 EPS for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.12). Novartis had a return on equity of 38.82% and a net margin of 24.87%.The business had revenue of $13.52 billion for the quarter, compared to analyst estimates of $13.44 billion. During the same period in the prior year, the business earned $2.28 EPS. The company’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, research analysts forecast that Novartis AG will post 8.83 earnings per share for the current year.

Novartis Profile

Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.

The company’s activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.