QRG Capital Management Inc. Has $16.10 Million Position in Novartis AG $NVS

QRG Capital Management Inc. decreased its position in shares of Novartis AG (NYSE:NVS) by 34.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 125,534 shares of the company’s stock after selling 66,101 shares during the quarter. QRG Capital Management Inc.’s holdings in Novartis were worth $16,099,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Keybank National Association OH increased its position in Novartis by 13.2% during the 2nd quarter. Keybank National Association OH now owns 49,377 shares of the company’s stock worth $5,975,000 after purchasing an additional 5,742 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Novartis by 27.7% during the third quarter. Geneos Wealth Management Inc. now owns 64,760 shares of the company’s stock worth $8,305,000 after buying an additional 14,032 shares in the last quarter. Sonora Investment Management Group LLC acquired a new stake in shares of Novartis during the 2nd quarter valued at $266,000. Cypress Capital Group boosted its stake in shares of Novartis by 84.1% during the second quarter. Cypress Capital Group now owns 5,776 shares of the company’s stock valued at $699,000 after purchasing an additional 2,638 shares in the last quarter. Finally, HM Payson & Co. grew its holdings in shares of Novartis by 306.6% during the third quarter. HM Payson & Co. now owns 13,262 shares of the company’s stock worth $1,701,000 after purchasing an additional 10,000 shares during the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on NVS shares. Cowen reiterated a “hold” rating on shares of Novartis in a research report on Monday, November 10th. Cfra Research upgraded shares of Novartis to a “hold” rating in a report on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Novartis in a research note on Friday. JPMorgan Chase & Co. raised Novartis from a “neutral” rating to an “overweight” rating in a report on Monday, December 8th. Finally, HC Wainwright lowered shares of Novartis to a “neutral” rating in a report on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Novartis presently has a consensus rating of “Hold” and a consensus price target of $119.75.

Novartis Trading Up 1.0%

NYSE:NVS opened at $144.52 on Friday. Novartis AG has a one year low of $97.45 and a one year high of $146.35. The company has a market cap of $305.29 billion, a PE ratio of 19.74, a PEG ratio of 1.97 and a beta of 0.51. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.88 and a quick ratio of 0.68. The firm has a 50-day moving average of $134.77 and a 200-day moving average of $127.82.

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

About Novartis

Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.

The company’s activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.