Novartis AG (NYSE:NVS) Shares Bought by Global Retirement Partners LLC

Global Retirement Partners LLC grew its holdings in Novartis AG (NYSE:NVS) by 6.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 6,864 shares of the company’s stock after buying an additional 394 shares during the period. Global Retirement Partners LLC’s holdings in Novartis were worth $789,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Northwest Investment Counselors LLC acquired a new stake in Novartis in the 1st quarter worth approximately $47,000. Range Financial Group LLC purchased a new position in shares of Novartis in the first quarter worth $534,000. Gateway Investment Advisers LLC acquired a new stake in shares of Novartis during the first quarter worth $230,000. IAM Advisory LLC grew its holdings in shares of Novartis by 3.4% during the first quarter. IAM Advisory LLC now owns 13,710 shares of the company’s stock valued at $1,326,000 after buying an additional 452 shares during the last quarter. Finally, Brookstone Capital Management grew its holdings in shares of Novartis by 1.3% during the first quarter. Brookstone Capital Management now owns 12,833 shares of the company’s stock valued at $1,241,000 after buying an additional 162 shares during the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Stock Performance

NVS opened at $117.18 on Monday. The firm has a fifty day moving average price of $116.31 and a 200 day moving average price of $108.09. Novartis AG has a 1 year low of $92.19 and a 1 year high of $120.92. The stock has a market cap of $239.52 billion, a P/E ratio of 15.81, a P/E/G ratio of 1.73 and a beta of 0.57. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.93 and a quick ratio of 0.72.

Novartis (NYSE:NVS) last issued 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 during the quarter, compared to the consensus estimate of $12.24 billion. During the same quarter in the prior year, the firm posted $1.83 earnings per share. Equities research analysts anticipate that Novartis AG will post 7.52 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on the company. Jefferies Financial Group cut Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Novartis in a research report on Friday, July 19th. The Goldman Sachs Group reissued a “neutral” rating and set a $121.00 price target (up from $119.00) on shares of Novartis in a research report on Thursday, September 5th. Barclays raised shares of Novartis to a “strong sell” rating in a report on Monday, June 24th. Finally, Bank of America cut shares of Novartis from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $135.00 to $130.00 in a report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $120.70.

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.