Leo Wealth LLC Takes $1.01 Million Position in Novartis AG (NYSE:NVS)

Leo Wealth LLC bought a new stake in shares of Novartis AG (NYSE:NVS) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 9,982 shares of the company’s stock, valued at approximately $1,009,000.

Several other large investors have also recently made changes to their positions in the business. Frazier Financial Advisors LLC bought a new stake in shares of Novartis during the fourth quarter valued at approximately $26,000. Richardson Financial Services Inc. bought a new stake in Novartis in the 4th quarter worth approximately $26,000. Operose Advisors LLC bought a new stake in Novartis in the 3rd quarter worth approximately $28,000. Planned Solutions Inc. bought a new stake in Novartis in the 4th quarter worth approximately $31,000. Finally, AdvisorNet Financial Inc boosted its stake in shares of Novartis by 480.0% during the 4th 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. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. BMO Capital Markets lifted their price target on shares of Novartis from $114.00 to $116.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 24th. The Goldman Sachs Group assumed coverage on shares of Novartis in a research note on Thursday, May 30th. They set a “buy” rating and a $120.00 price target on the stock. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $116.67.

Novartis Stock Down 0.7 %

NVS opened at $104.96 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.71 and a current ratio of 0.90. Novartis AG has a fifty-two week low of $92.19 and a fifty-two week high of $108.78. The firm’s fifty day moving average is $100.03 and its 200 day moving average is $100.68. The stock has a market cap of $214.54 billion, a price-to-earnings ratio of 14.16, a price-to-earnings-growth ratio of 1.62 and a beta of 0.58.

Novartis (NYSE:NVS) last released its earnings results on Tuesday, April 23rd. The company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.07. Novartis had a net margin of 31.33% and a return on equity of 32.15%. The company had revenue of $11.83 billion for the quarter, compared to analysts’ expectations of $11.50 billion. On average, sell-side analysts forecast that Novartis AG will post 7.27 earnings per share for the current fiscal 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.