Global Retirement Partners LLC Makes New $1.21 Million Investment in Novartis AG $NVS

Global Retirement Partners LLC acquired a new stake in shares of Novartis AG (NYSE:NVS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,006 shares of the company’s stock, valued at approximately $1,211,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. WPG Advisers LLC purchased a new position in Novartis during the 1st quarter valued at about $25,000. GFG Capital LLC purchased a new stake in Novartis in the second quarter worth about $26,000. Legacy Investment Solutions LLC bought a new position in shares of Novartis during the second quarter valued at approximately $30,000. Barrett & Company Inc. purchased a new position in shares of Novartis during the second quarter valued at approximately $31,000. Finally, MCF Advisors LLC lifted its holdings in shares of Novartis by 66.0% during the second quarter. MCF Advisors LLC now owns 264 shares of the company’s stock valued at $32,000 after purchasing an additional 105 shares during the last quarter. 13.12% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on NVS. Jefferies Financial Group restated a “hold” rating on shares of Novartis in a research note on Monday, October 27th. Cfra Research raised Novartis to a “hold” rating in a report on Wednesday, October 29th. Morgan Stanley upgraded Novartis from an “equal weight” rating to an “overweight” rating in a report on Friday, October 31st. Wall Street Zen cut shares of Novartis from a “strong-buy” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, The Goldman Sachs Group reissued a “sell” rating and set a $118.00 price objective (down from $119.00) on shares of Novartis in a research report on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Novartis presently has an average rating of “Hold” and a consensus target price of $122.33.

Novartis Trading Up 0.1%

Shares of NYSE:NVS opened at $130.44 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.88 and a quick ratio of 0.62. Novartis AG has a 1 year low of $96.06 and a 1 year high of $134.00. The company has a market cap of $275.54 billion, a P/E ratio of 17.82, a PEG ratio of 1.93 and a beta of 0.60. The stock’s fifty day moving average price is $128.00 and its 200-day moving average price is $122.30.

Novartis (NYSE:NVS) last issued its earnings results on Tuesday, October 28th. The company reported $2.25 earnings per share for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.01). Novartis had a return on equity of 41.21% and a net margin of 26.49%.The business had revenue of $14.36 billion during the quarter, compared to analysts’ expectations of $13.70 billion. During the same period last year, the firm posted $2.06 EPS. Novartis’s quarterly revenue was up 8.5% compared to the same quarter last year. Sell-side analysts expect that Novartis AG will post 8.45 earnings per share for the current year.

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.