Novartis AG $NVS Shares Purchased by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC increased its holdings in shares of Novartis AG (NYSE:NVS) by 10.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,592 shares of the company’s stock after acquiring an additional 4,500 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Novartis were worth $5,759,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Essex Savings Bank boosted its position in Novartis by 1.9% during the 2nd quarter. Essex Savings Bank now owns 4,611 shares of the company’s stock valued at $558,000 after purchasing an additional 85 shares during the period. Physician Wealth Advisors Inc. boosted its position in Novartis by 5.8% during the 2nd quarter. Physician Wealth Advisors Inc. now owns 1,541 shares of the company’s stock valued at $186,000 after purchasing an additional 85 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. boosted its position in Novartis by 4.4% during the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 2,062 shares of the company’s stock valued at $250,000 after purchasing an additional 87 shares during the period. Forum Financial Management LP boosted its holdings in shares of Novartis by 0.4% during the second quarter. Forum Financial Management LP now owns 24,607 shares of the company’s stock valued at $2,978,000 after acquiring an additional 88 shares during the period. Finally, Avidian Wealth Enterprises LLC boosted its holdings in shares of Novartis by 1.2% during the second quarter. Avidian Wealth Enterprises LLC now owns 7,749 shares of the company’s stock valued at $938,000 after acquiring an additional 90 shares during the period. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Trading Up 0.1%

Shares of NYSE:NVS opened at $131.60 on Friday. The company has a 50 day moving average of $127.43 and a 200-day moving average of $119.17. The firm has a market cap of $277.99 billion, a P/E ratio of 19.16, a P/E/G ratio of 1.84 and a beta of 0.64. Novartis AG has a twelve month low of $96.06 and a twelve month high of $133.55. The company has a current ratio of 0.82, a quick ratio of 0.62 and a debt-to-equity ratio of 0.53.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NVS shares. The Goldman Sachs Group reissued a “sell” rating and set a $118.00 price target (down previously from $119.00) on shares of Novartis in a report on Friday, September 12th. Wall Street Zen raised shares of Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Novartis in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Novartis in a research report on Thursday, August 21st. Finally, Morgan Stanley upgraded Novartis from an “underweight” rating to an “equal weight” rating and set a $123.00 price target for the company in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Novartis currently has a consensus rating of “Hold” and an average target price of $120.33.

About Novartis

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.