Novartis AG (NYSE:NVS) Stock Position Reduced by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. lessened its position in shares of Novartis AG (NYSE:NVS – Free Report) by 15.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,454 shares of the company’s stock after selling 3,736 shares during the period. Geneos Wealth Management Inc.’s holdings in Novartis were worth $1,882,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. TCI Wealth Advisors Inc. lifted its holdings in shares of Novartis by 193.0% in the 4th quarter. TCI Wealth Advisors Inc. now owns 293 shares of the company’s stock worth $27,000 after purchasing an additional 193 shares during the last quarter. Fortis Capital Advisors LLC bought a new stake in shares of Novartis in the 4th quarter worth approximately $27,000. Financial Management Professionals Inc. lifted its holdings in shares of Novartis by 2,018.8% in the 4th quarter. Financial Management Professionals Inc. now owns 339 shares of the company’s stock worth $31,000 after purchasing an additional 323 shares during the last quarter. Resurgent Financial Advisors LLC bought a new stake in shares of Novartis in the 4th quarter worth approximately $35,000. Finally, CoreCap Advisors LLC bought a new stake in shares of Novartis in the 4th quarter worth approximately $37,000. Institutional investors own 8.07% of the company’s stock.

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Novartis Stock Up 1.9 %

Shares of NVS stock opened at $96.55 on Tuesday. Novartis AG has a 1 year low of $74.09 and a 1 year high of $105.56. The stock has a market cap of $204.65 billion, a PE ratio of 29.71, a price-to-earnings-growth ratio of 1.57 and a beta of 0.55. The business’s fifty day moving average is $100.36 and its 200-day moving average is $93.75. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.79 and a current ratio of 1.05.

Novartis (NYSE:NVS – Get Free Report) last issued its earnings results on Tuesday, April 25th. The company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.16. The business had revenue of $12.95 billion for the quarter, compared to analysts’ expectations of $12.60 billion. Novartis had a return on equity of 23.29% and a net margin of 13.78%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.46 EPS. Equities analysts expect that Novartis AG will post 6.72 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on NVS shares. StockNews.com started coverage on Novartis in a research note on Thursday, May 18th. They set a “strong-buy” rating on the stock. BTIG Research lifted their target price on Novartis from $75.00 to $85.00 in a research note on Wednesday, April 19th. Finally, Deutsche Bank Aktiengesellschaft raised Novartis from a “hold” rating to a “buy” rating in a research note on Wednesday, April 26th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $82.25.

Novartis Company Profile

(Free Report)

Novartis AG researches, develops, manufactures, and markets healthcare products in Switzerland and internationally. The company operates through two segments: Innovative Medicines and Sandoz. The Innovative Medicines segment offers prescription medicines for patients and physicians. It also provides cardiovascular, ophthalmology, neuroscience, immunology, hematology, and solid tumor products.

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