Logan Capital Management Inc. Raises Stock Position in Novartis AG $NVS

Logan Capital Management Inc. lifted its position in shares of Novartis AG (NYSE:NVS) by 11.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,660 shares of the company’s stock after acquiring an additional 4,701 shares during the quarter. Logan Capital Management Inc.’s holdings in Novartis were worth $5,646,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of NVS. Brighton Jones LLC grew its holdings in Novartis by 76.5% in the fourth quarter. Brighton Jones LLC now owns 6,153 shares of the company’s stock valued at $599,000 after purchasing an additional 2,666 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Novartis by 29.9% in the 1st quarter. GAMMA Investing LLC now owns 6,524 shares of the company’s stock worth $727,000 after buying an additional 1,500 shares in the last quarter. Spire Wealth Management grew its stake in Novartis by 17.2% in the 1st quarter. Spire Wealth Management now owns 3,032 shares of the company’s stock valued at $338,000 after acquiring an additional 446 shares during the last quarter. Bessemer Group Inc. increased its holdings in Novartis by 10.9% during the 1st quarter. Bessemer Group Inc. now owns 11,289 shares of the company’s stock valued at $1,258,000 after acquiring an additional 1,105 shares in the last quarter. Finally, Western Wealth Management LLC acquired a new position in Novartis during the first quarter worth about $216,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Trading Down 1.0%

Shares of Novartis stock opened at $129.12 on Tuesday. Novartis AG has a fifty-two week low of $96.06 and a fifty-two week high of $133.55. The business’s fifty day moving average is $127.66 and its two-hundred day moving average is $119.78. The company has a quick ratio of 0.62, a current ratio of 0.82 and a debt-to-equity ratio of 0.53. The firm has a market cap of $272.76 billion, a PE ratio of 18.79, a P/E/G ratio of 1.82 and a beta of 0.64.

Analyst Ratings Changes

Several analysts have recently commented on NVS shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Novartis in a research report on Thursday, August 21st. 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 research report on Friday, September 12th. Weiss Ratings reissued a “buy (b)” rating on shares of Novartis in a report on Wednesday, October 8th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Novartis in a research note on Monday. Finally, Morgan Stanley upgraded Novartis from an “underweight” rating to an “equal weight” rating and set a $123.00 price objective for the company in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $120.33.

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.