Presilium Private Wealth LLC Invests $703,000 in Novartis AG $NVS

Presilium Private Wealth LLC purchased a new position in Novartis AG (NYSE:NVS) during the 1st quarter, Holdings Channel reports. The fund purchased 4,605 shares of the company’s stock, valued at approximately $703,000.

Several other large investors also recently added to or reduced their stakes in the stock. Auto Owners Insurance Co raised its stake in shares of Novartis by 13,687.0% during the fourth quarter. Auto Owners Insurance Co now owns 4,628,296 shares of the company’s stock valued at $638,103,000 after acquiring an additional 4,594,726 shares in the last quarter. Morgan Stanley increased its holdings in Novartis by 14.9% during the 4th quarter. Morgan Stanley now owns 8,876,906 shares of the company’s stock worth $1,223,860,000 after purchasing an additional 1,148,033 shares during the period. GQG Partners LLC raised its position in Novartis by 39.6% during the 4th quarter. GQG Partners LLC now owns 3,158,122 shares of the company’s stock valued at $435,414,000 after purchasing an additional 895,255 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Novartis in the 4th quarter worth $108,638,000. Finally, Raymond James Financial Inc. grew its position in shares of Novartis by 77.7% during the 3rd quarter. Raymond James Financial Inc. now owns 1,648,174 shares of the company’s stock worth $211,362,000 after buying an additional 720,860 shares in the last quarter. 13.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NVS has been the subject of several recent research reports. Morgan Stanley lifted their price objective on Novartis from $143.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, March 26th. Sanford C. Bernstein upgraded shares of Novartis to a “hold” rating in a report on Thursday, March 19th. Weiss Ratings cut shares of Novartis from a “buy (a-)” rating to a “buy (b)” rating in a research report on Wednesday, April 29th. Finally, Argus upgraded shares of Novartis from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a research note on Wednesday, March 11th. Seven research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $141.20.

Novartis Trading Up 3.0%

Shares of NYSE NVS opened at $153.42 on Wednesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.85 and a quick ratio of 0.65. The stock has a market capitalization of $292.75 billion, a P/E ratio of 21.98, a price-to-earnings-growth ratio of 2.62 and a beta of 0.46. Novartis AG has a 1-year low of $112.34 and a 1-year high of $170.46. The business has a fifty day moving average price of $148.97 and a 200 day moving average price of $149.16.

Novartis (NYSE:NVS) last posted its earnings results on Monday, April 27th. The company reported $1.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.12). The company had revenue of $13.52 billion during the quarter, compared to analysts’ expectations of $13.44 billion. Novartis had a net margin of 24.87% and a return on equity of 38.82%. Novartis’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter last year, the firm earned $2.28 EPS. Equities research analysts expect that Novartis AG will post 8.82 EPS for the current fiscal year.

About Novartis

Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.

The company’s activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.