Gateway Wealth Partners LLC Purchases Shares of 4,616 Novartis AG $NVS

Gateway Wealth Partners LLC acquired a new stake in Novartis AG (NYSE:NVS) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 4,616 shares of the company’s stock, valued at approximately $705,000.

Other large investors have also recently made changes to their positions in the company. Auto Owners Insurance Co grew its holdings in Novartis by 13,687.0% during the 4th quarter. Auto Owners Insurance Co now owns 4,628,296 shares of the company’s stock worth $638,103,000 after acquiring an additional 4,594,726 shares in the last quarter. WCM Investment Management LLC acquired a new stake in shares of Novartis in the 1st quarter valued at $220,004,000. Morgan Stanley raised its holdings in shares of Novartis by 14.9% in the 4th quarter. Morgan Stanley now owns 8,876,906 shares of the company’s stock valued at $1,223,860,000 after purchasing an additional 1,148,033 shares in the last quarter. GQG Partners LLC lifted its position in shares of Novartis by 39.6% during the 4th quarter. GQG Partners LLC now owns 3,158,122 shares of the company’s stock worth $435,414,000 after purchasing an additional 895,255 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Novartis during the 4th quarter worth $108,638,000. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Novartis Stock Performance

Shares of Novartis stock opened at $158.82 on Thursday. The company has a quick ratio of 0.67, a current ratio of 0.86 and a debt-to-equity ratio of 0.89. Novartis AG has a 52 week low of $112.34 and a 52 week high of $170.46. The firm’s 50 day moving average is $152.44 and its two-hundred day moving average is $152.58. The firm has a market capitalization of $303.06 billion, a P/E ratio of 23.96, a P/E/G ratio of 2.75 and a beta of 0.45.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Tuesday, June 30th. The company reported $2.41 earnings per share for the quarter. Novartis had a net margin of 23.29% and a return on equity of 38.56%. The business had revenue of $14.95 billion during the quarter. Research analysts forecast that Novartis AG will post 8.8 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Novartis in a report on Friday, July 24th. Citigroup reaffirmed a “buy” rating on shares of Novartis in a report on Wednesday, July 22nd. Seven investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Novartis currently has an average rating of “Hold” and a consensus price target of $141.20.

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.