Dickmeyer Boyce Financial Management Inc. Makes New $918,000 Investment in Novartis AG $NVS

Dickmeyer Boyce Financial Management Inc. bought a new position in shares of Novartis AG (NYSE:NVS) during the 1st quarter, Holdings Channel reports. The firm bought 6,007 shares of the company’s stock, valued at approximately $918,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NVS. Gibbs Wealth Management raised its holdings in shares of Novartis by 331.9% in the first quarter. Gibbs Wealth Management now owns 13,783 shares of the company’s stock valued at $2,105,000 after buying an additional 10,592 shares during the last quarter. Sei Investments Co. grew its holdings in Novartis by 9.6% during the 1st quarter. Sei Investments Co. now owns 619,274 shares of the company’s stock worth $94,594,000 after acquiring an additional 54,262 shares during the last quarter. Davis R M Inc. bought a new stake in Novartis during the 1st quarter worth about $267,000. Cetera Investment Advisers increased its position in Novartis by 13.5% in the 1st quarter. Cetera Investment Advisers now owns 203,045 shares of the company’s stock valued at $31,015,000 after acquiring an additional 24,096 shares in the last quarter. Finally, Aureus Asset Management LLC increased its position in Novartis by 27.4% in the 1st quarter. Aureus Asset Management LLC now owns 5,495 shares of the company’s stock valued at $839,000 after acquiring an additional 1,183 shares in the last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Stock Up 2.1%

Shares of NYSE:NVS opened at $156.32 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.86 and a quick ratio of 0.65. The stock has a market cap of $298.29 billion, a price-to-earnings ratio of 23.58, a P/E/G ratio of 2.65 and a beta of 0.45. The company has a 50 day moving average of $151.81 and a 200-day moving average of $152.11. Novartis AG has a one year low of $112.34 and a one year high of $170.46.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Tuesday, June 30th. The company reported $2.41 earnings per share for the quarter. Novartis had a net margin of 23.29% and a return on equity of 38.56%. The business had revenue of $14.95 billion for the quarter. On average, sell-side analysts forecast that Novartis AG will post 8.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NVS. Citigroup reiterated a “buy” rating on shares of Novartis in a research report on Wednesday. Weiss Ratings lowered shares of Novartis from a “buy (a-)” rating to a “buy (b)” rating in a report on Wednesday, April 29th. Finally, Morgan Stanley boosted their price objective on shares of Novartis from $143.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, March 26th. Seven research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $141.20.

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.