QRG Capital Management Inc. Grows Stake in Novartis AG $NVS

QRG Capital Management Inc. boosted its holdings in shares of Novartis AG (NYSE:NVS) by 9.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 164,478 shares of the company’s stock after purchasing an additional 13,634 shares during the quarter. QRG Capital Management Inc.’s holdings in Novartis were worth $25,777,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. SOA Wealth Advisors LLC. raised its position in shares of Novartis by 4,316.2% during the second quarter. SOA Wealth Advisors LLC. now owns 14,750 shares of the company’s stock valued at $2,312,000 after buying an additional 14,416 shares during the last quarter. Mission Wealth Management LP boosted its position in shares of Novartis by 85.7% during the second quarter. Mission Wealth Management LP now owns 19,690 shares of the company’s stock worth $3,086,000 after acquiring an additional 9,086 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Novartis by 40.4% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 195,986 shares of the company’s stock worth $30,715,000 after acquiring an additional 56,424 shares during the last quarter. Somerville Kurt F purchased a new position in Novartis during the second quarter valued at $1,636,000. Finally, Presilium Private Wealth LLC purchased a new position in Novartis during the first quarter valued at $703,000. 13.12% of the stock is owned by hedge funds and other institutional investors.

Novartis Price Performance

Novartis stock traded up $1.32 during mid-day trading on Wednesday, reaching $142.60. 2,518,344 shares of the company’s stock traded hands, compared to its average volume of 2,007,071. Novartis AG has a 12-month low of $121.57 and a 12-month high of $170.46. The company has a quick ratio of 0.67, a current ratio of 0.86 and a debt-to-equity ratio of 0.89. The stock has a 50 day moving average of $152.19 and a two-hundred day moving average of $151.62. The company has a market cap of $272.10 billion, a price-to-earnings ratio of 21.51, a PEG ratio of 2.72 and a beta of 0.45.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Tuesday, June 30th. The company reported $2.41 EPS 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 during the quarter. Equities analysts forecast that Novartis AG will post 8.87 earnings per share for the current year.

Wall Street Analyst Weigh In

NVS has been the topic of several research analyst reports. Royal Bank Of Canada initiated coverage on shares of Novartis in a research note on Tuesday, September 8th. They issued a “sector perform” rating on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Novartis in a research report on Friday, July 24th. HSBC raised Novartis from a “reduce” rating to a “hold” rating and lifted their target price for the stock from $123.00 to $136.00 in a report on Thursday, September 10th. Citigroup reissued a “buy” rating on shares of Novartis in a research note on Wednesday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft cut Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, September 8th. Six equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $153.00.

Novartis Company Profile

Novartis AG (NYSE: NVS) is a Switzerland-based pharmaceutical company focused on discovering, developing and commercializing innovative medicines. The company’s portfolio addresses major disease areas including cardiovascular, renal and metabolic conditions, immunology, neuroscience, oncology and hematology.

Novartis markets medicines such as Entresto for certain heart conditions, Cosentyx for inflammatory diseases, Kisqali for breast cancer, Kesimpta for multiple sclerosis, Leqvio for cholesterol management, Pluvicto for certain prostate cancers and Scemblix for chronic myeloid leukemia.