Fairscale Capital LLC Takes Position in Novartis AG (NYSE:NVS)

Fairscale Capital LLC purchased a new stake in shares of Novartis AG (NYSE:NVS) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,551 shares of the company’s stock, valued at approximately $171,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Founders Financial Securities LLC boosted its position in Novartis by 3.4% during the 2nd quarter. Founders Financial Securities LLC now owns 2,832 shares of the company’s stock valued at $301,000 after buying an additional 94 shares during the period. NBC Securities Inc. boosted its holdings in shares of Novartis by 0.9% during the second quarter. NBC Securities Inc. now owns 10,492 shares of the company’s stock worth $1,116,000 after purchasing an additional 97 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Novartis by 5.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,013 shares of the company’s stock valued at $196,000 after purchasing an additional 98 shares during the period. Portside Wealth Group LLC increased its holdings in Novartis by 3.4% during the 2nd quarter. Portside Wealth Group LLC now owns 3,000 shares of the company’s stock valued at $319,000 after purchasing an additional 99 shares during the period. Finally, Evermay Wealth Management LLC raised its position in Novartis by 9.3% during the 1st quarter. Evermay Wealth Management LLC now owns 1,176 shares of the company’s stock valued at $114,000 after purchasing an additional 100 shares during the last quarter. 13.12% of the stock is owned by institutional investors.

Novartis Stock Down 0.0 %

NYSE:NVS opened at $115.94 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.93 and a quick ratio of 0.72. The firm’s 50-day moving average price is $114.22 and its 200-day moving average price is $105.48. The company has a market capitalization of $236.98 billion, a PE ratio of 15.65, a P/E/G ratio of 1.75 and a beta of 0.57. Novartis AG has a 1-year low of $92.19 and a 1-year high of $120.92.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Thursday, July 18th. The company reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.10. Novartis had a net margin of 33.76% and a return on equity of 34.56%. The business had revenue of $12.87 billion for the quarter, compared to analysts’ expectations of $12.24 billion. During the same quarter in the prior year, the company earned $1.83 earnings per share. On average, equities analysts predict that Novartis AG will post 7.5 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on NVS shares. Jefferies Financial Group lowered Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd. The Goldman Sachs Group reissued a “neutral” rating and set a $121.00 price objective (up from $119.00) on shares of Novartis in a research report on Thursday, September 5th. Bank of America lowered shares of Novartis from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $135.00 to $130.00 in a report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Novartis in a research note on Friday, July 19th. Finally, Barclays raised shares of Novartis to a “strong sell” rating in a research note on Monday, June 24th. One investment 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 company’s stock. According to MarketBeat, Novartis currently has an average rating of “Hold” and an average price target of $120.70.

Novartis Company 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.