Novartis AG (NYSE:NVS) Shares Purchased by Catalytic Wealth RIA LLC

Catalytic Wealth RIA LLC increased its position in shares of Novartis AG (NYSE:NVS) by 21.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,689 shares of the company’s stock after purchasing an additional 822 shares during the quarter. Catalytic Wealth RIA LLC’s holdings in Novartis were worth $539,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Clearstead Trust LLC raised its holdings in shares of Novartis by 73.5% in the first quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock worth $26,000 after acquiring an additional 114 shares during the last quarter. New Millennium Group LLC acquired a new position in shares of Novartis in the second quarter worth $28,000. Lynx Investment Advisory acquired a new position in shares of Novartis in the second quarter worth $29,000. Industrial Alliance Investment Management Inc. acquired a new position in shares of Novartis in the second quarter worth $30,000. Finally, Richardson Financial Services Inc. acquired a new position in shares of Novartis in the second quarter worth $30,000. 13.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Bank of America cut Novartis from a “buy” rating to a “neutral” rating and cut their price target for the stock from $135.00 to $130.00 in a report on Wednesday, September 11th. Jefferies Financial Group downgraded Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $121.00 price objective (up previously from $119.00) on shares of Novartis in a research report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Novartis in a research report on Friday, July 19th. Finally, BMO Capital Markets lifted their price objective on Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. One equities research 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 stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $121.50.

Novartis Price Performance

NVS stock opened at $105.68 on Tuesday. The stock has a 50-day moving average price of $114.56 and a two-hundred day moving average price of $109.78. Novartis AG has a 12-month low of $92.35 and a 12-month high of $120.92. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 0.55. The company has a market cap of $216.01 billion, a PE ratio of 12.27, a price-to-earnings-growth ratio of 1.55 and a beta of 0.58.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. The company had revenue of $12.82 billion for the quarter, compared to analysts’ expectations of $12.62 billion. Novartis had a return on equity of 34.80% and a net margin of 35.96%. During the same quarter in the previous year, the firm posted $1.74 earnings per share. As a group, research analysts predict that Novartis AG will post 7.56 EPS 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.