Novartis AG (NYSE:NVS) Shares Bought by Financial Gravity Asset Management Inc.

Financial Gravity Asset Management Inc. grew its holdings in shares of Novartis AG (NYSE:NVS) by 15.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,067 shares of the company’s stock after buying an additional 5,102 shares during the period. Novartis accounts for about 1.0% of Financial Gravity Asset Management Inc.’s investment portfolio, making the stock its 23rd biggest holding. Financial Gravity Asset Management Inc.’s holdings in Novartis were worth $4,159,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Frazier Financial Advisors LLC bought a new stake in shares of Novartis during the 4th quarter worth about $26,000. Private Ocean LLC bought a new stake in Novartis during the first quarter worth approximately $25,000. Richardson Financial Services Inc. acquired a new stake in Novartis in the fourth quarter worth approximately $26,000. New Millennium Group LLC bought a new position in Novartis during the 2nd quarter valued at $28,000. Finally, Clearstead Trust LLC boosted its stake in Novartis by 73.5% during the 1st quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock valued at $26,000 after purchasing an additional 114 shares in the last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Trading Up 0.1 %

Shares of NVS opened at $116.65 on Friday. The business’s 50-day moving average price is $112.66 and its 200 day moving average price is $104.52. The company has a current ratio of 0.93, a quick ratio of 0.72 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $238.43 billion, a P/E ratio of 15.74, a P/E/G ratio of 1.74 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 released its earnings results on Thursday, July 18th. The company reported $1.97 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $12.24 billion. During the same period last year, the firm posted $1.83 earnings per share. Analysts expect that Novartis AG will post 7.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

NVS has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Novartis in a report on Friday, July 19th. Jefferies Financial Group downgraded shares of Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. Barclays upgraded shares of Novartis to a “strong sell” rating in a research report on Monday, June 24th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $121.00 target price (up from $119.00) on shares of Novartis in a report on Thursday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $118.38.

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.