Novartis AG (NYSE:NVS) Shares Acquired by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC increased its stake in Novartis AG (NYSE:NVS) by 5.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,013 shares of the company’s stock after acquiring an additional 98 shares during the period. EverSource Wealth Advisors LLC’s holdings in Novartis were worth $196,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of NVS. AdvisorNet Financial Inc boosted its position in shares of Novartis by 480.0% in the fourth quarter. AdvisorNet Financial Inc now owns 348 shares of the company’s stock worth $35,000 after acquiring an additional 288 shares during the last quarter. Private Trust Co. NA boosted its position in shares of Novartis by 10.0% in the fourth quarter. Private Trust Co. NA now owns 5,092 shares of the company’s stock worth $514,000 after acquiring an additional 465 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of Novartis by 6,599.3% in the fourth quarter. International Assets Investment Management LLC now owns 149,395 shares of the company’s stock worth $15,084,000 after acquiring an additional 147,165 shares during the last quarter. Advisors Preferred LLC acquired a new stake in shares of Novartis in the fourth quarter worth approximately $271,000. Finally, Fulton Bank N.A. lifted its position in Novartis by 10.6% during the fourth quarter. Fulton Bank N.A. now owns 8,355 shares of the company’s stock valued at $844,000 after buying an additional 804 shares in the last quarter. 13.12% of the stock is owned by institutional investors and hedge funds.

Novartis Stock Up 0.7 %

Shares of NYSE NVS traded up $0.77 during trading on Friday, reaching $112.87. 1,678,907 shares of the stock were exchanged, compared to its average volume of 1,504,443. The business’s 50-day moving average price is $106.99 and its 200 day moving average price is $102.47. Novartis AG has a twelve month low of $92.19 and a twelve month high of $113.00. The company has a quick ratio of 0.72, a current ratio of 0.93 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $230.71 billion, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 1.65 and a beta of 0.57.

Novartis (NYSE:NVS) last issued its quarterly earnings results on Thursday, July 18th. The company reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.10. The business had revenue of $12.87 billion during the quarter, compared to analyst estimates of $12.24 billion. Novartis had a net margin of 33.76% and a return on equity of 34.56%. During the same quarter in the previous year, the firm earned $1.83 earnings per share. As a group, equities analysts forecast that Novartis AG will post 7.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NVS has been the topic of a number of recent research reports. BMO Capital Markets lifted their price target on shares of Novartis from $114.00 to $116.00 and gave the company a “market perform” rating in a research report on Wednesday, April 24th. Barclays raised shares of Novartis to a “strong sell” rating in a research report on Monday, June 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Novartis in a research report on Friday, July 19th. Jefferies Financial Group lifted their price target on shares of Novartis from $121.00 to $122.50 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Finally, The Goldman Sachs Group started coverage on shares of Novartis in a research report on Thursday, May 30th. They set a “buy” rating and a $120.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Novartis has an average rating of “Hold” and a consensus price target of $118.13.

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.