Novartis AG (NYSE:NVS) Shares Bought by SteelPeak Wealth LLC

SteelPeak Wealth LLC boosted its position in shares of Novartis AG (NYSE:NVS) by 24.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 2,648 shares of the company’s stock after acquiring an additional 521 shares during the period. SteelPeak Wealth LLC’s holdings in Novartis were worth $305,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its holdings in Novartis by 23.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,407,692 shares of the company’s stock worth $788,626,000 after acquiring an additional 1,389,610 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Novartis by 0.6% during the 1st quarter. Janus Henderson Group PLC now owns 2,568,728 shares of the company’s stock worth $248,473,000 after acquiring an additional 16,015 shares in the last quarter. Mondrian Investment Partners LTD grew its holdings in Novartis by 40.1% during the 1st quarter. Mondrian Investment Partners LTD now owns 2,065,739 shares of the company’s stock worth $199,819,000 after acquiring an additional 590,830 shares in the last quarter. Magnetar Financial LLC grew its holdings in Novartis by 53.7% during the 1st quarter. Magnetar Financial LLC now owns 1,906,046 shares of the company’s stock worth $184,372,000 after acquiring an additional 666,104 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Novartis by 191.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,904,664 shares of the company’s stock worth $202,771,000 after acquiring an additional 1,250,318 shares in the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

Wall Street Analysts Forecast Growth

NVS has been the subject of several analyst reports. BMO Capital Markets boosted their price target on shares of Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a report on Wednesday. Bank of America cut shares of Novartis from a “buy” rating to a “neutral” rating and lowered their target price for the company from $135.00 to $130.00 in a report on Wednesday, September 11th. Jefferies Financial Group cut shares of Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Novartis in a report on Friday, July 19th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $121.00 target price (up previously from $119.00) on shares of Novartis in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $121.50.

Novartis Stock Down 1.4 %

NVS stock opened at $108.38 on Friday. The company has a fifty day moving average price of $115.94 and a 200 day moving average price of $109.01. Novartis AG has a 12 month low of $92.35 and a 12 month high of $120.92. The company has a market cap of $221.53 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 1.59 and a beta of 0.57. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.11 and a quick ratio of 0.72.

Novartis (NYSE:NVS) last released its quarterly earnings results on Tuesday, October 29th. The company reported $2.06 EPS for the quarter, beating the consensus estimate of $1.94 by $0.12. Novartis had a net margin of 35.96% and a return on equity of 34.80%. The firm had revenue of $12.82 billion during the quarter, compared to the consensus estimate of $12.62 billion. During the same quarter in the prior year, the firm earned $1.74 EPS. Sell-side analysts expect that Novartis AG will post 7.56 earnings per share for the current year.

Novartis 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.