HighPoint Advisor Group LLC Acquires Shares of 19,568 Novartis AG (NYSE:NVS)

HighPoint Advisor Group LLC acquired a new stake in shares of Novartis AG (NYSE:NVS) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 19,568 shares of the company’s stock, valued at approximately $1,873,000.

Several other large investors have also bought and sold shares of NVS. Frazier Financial Advisors LLC purchased a new position in shares of Novartis during the fourth quarter valued at approximately $26,000. Richardson Financial Services Inc. purchased a new position in shares of Novartis during the fourth quarter valued at approximately $26,000. Operose Advisors LLC purchased a new position in shares of Novartis during the third quarter valued at approximately $28,000. Planned Solutions Inc. purchased a new position in Novartis in the 4th quarter worth approximately $31,000. Finally, AdvisorNet Financial Inc raised its holdings in Novartis by 480.0% in 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 owned by institutional investors.

Novartis Stock Performance

NYSE:NVS opened at $104.93 on Wednesday. The company has a current ratio of 0.90, a quick ratio of 0.71 and a debt-to-equity ratio of 0.43. Novartis AG has a 12 month low of $92.19 and a 12 month high of $108.78. The company has a market cap of $214.48 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 1.61 and a beta of 0.58. The company has a 50 day simple moving average of $100.21 and a two-hundred day simple moving average of $100.73.

Novartis (NYSE:NVS) last posted its earnings results on Tuesday, April 23rd. The company reported $1.80 EPS for the quarter, topping 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 business had revenue of $11.83 billion during the quarter, compared to the consensus estimate of $11.50 billion. Research analysts forecast that Novartis AG will post 7.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Novartis in a report on Thursday, May 30th. They issued a “buy” rating and a $120.00 price objective for the company. BMO Capital Markets boosted their price objective on shares of Novartis from $114.00 to $116.00 and gave the stock a “market perform” rating in a report on Wednesday, April 24th. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Novartis currently has an average rating of “Moderate Buy” and a consensus price target of $116.67.

About Novartis

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.