Ieq Capital LLC Invests $275,000 in Novartis AG (NYSE:NVS)

Ieq Capital LLC purchased a new position in Novartis AG (NYSE:NVS – Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,990 shares of the company’s stock, valued at approximately $275,000.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of Novartis by 18.3% in the first quarter. BlackRock Inc. now owns 1,556,539 shares of the company’s stock worth $136,587,000 after buying an additional 240,710 shares during the last quarter. Dakota Wealth Management increased its position in Novartis by 3.9% in the first quarter. Dakota Wealth Management now owns 4,869 shares of the company’s stock worth $427,000 after purchasing an additional 185 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in Novartis by 42.4% in the first quarter. Sequoia Financial Advisors LLC now owns 10,996 shares of the company’s stock worth $965,000 after purchasing an additional 3,272 shares during the last quarter. Baird Financial Group Inc. increased its position in Novartis by 4.5% in the first quarter. Baird Financial Group Inc. now owns 95,477 shares of the company’s stock worth $8,379,000 after purchasing an additional 4,122 shares during the last quarter. Finally, Zions Bancorporation N.A. increased its position in Novartis by 22.8% in the first quarter. Zions Bancorporation N.A. now owns 3,528 shares of the company’s stock worth $309,000 after purchasing an additional 655 shares during the last quarter. 8.07% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. StockNews.com assumed coverage on shares of Novartis in a research report on Thursday, May 18th. They set a “strong-buy” rating on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Novartis from a “hold” rating to a “buy” rating in a report on Wednesday, April 26th. HSBC started coverage on shares of Novartis in a report on Friday, July 14th. They issued a “buy” rating on the stock. Finally, BTIG Research upped their price objective on shares of Novartis from $75.00 to $85.00 in a research note on Wednesday, April 19th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $82.25.

Novartis Price Performance

Shares of NYSE:NVS opened at $103.91 on Thursday. Novartis AG has a twelve month low of $74.09 and a twelve month high of $105.61. The company’s 50 day moving average is $99.80 and its 200 day moving average is $94.46. The company has a current ratio of 1.05, a quick ratio of 0.79 and a debt-to-equity ratio of 0.35. The company has a market cap of $220.24 billion, a PE ratio of 28.94, a price-to-earnings-growth ratio of 1.69 and a beta of 0.55.

Novartis (NYSE:NVS – Get Free Report) last issued its quarterly earnings results on Wednesday, July 19th. The company reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.15. Novartis had a net margin of 14.76% and a return on equity of 25.12%. The company had revenue of $13.62 billion for the quarter, compared to the consensus estimate of $6.32 million. During the same quarter in the prior year, the company earned $1.56 EPS. Novartis’s quarterly revenue was up 6.6% on a year-over-year basis. On average, sell-side analysts forecast that Novartis AG will post 6.81 EPS for the current year.

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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