Tred Avon Family Wealth LLC Purchases New Position in Novartis AG $NVS

Tred Avon Family Wealth LLC purchased a new stake in shares of Novartis AG (NYSE:NVS) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 3,508 shares of the company’s stock, valued at approximately $450,000.

Other hedge funds have also modified their holdings of the company. Fisher Asset Management LLC grew its holdings in shares of Novartis by 5.3% in the second quarter. Fisher Asset Management LLC now owns 7,121,414 shares of the company’s stock valued at $861,762,000 after purchasing an additional 358,282 shares in the last quarter. Loomis Sayles & Co. L P lifted its position in Novartis by 1.4% during the second quarter. Loomis Sayles & Co. L P now owns 5,581,576 shares of the company’s stock valued at $675,427,000 after purchasing an additional 78,483 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Novartis by 8.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,736,891 shares of the company’s stock worth $210,181,000 after buying an additional 128,302 shares in the last quarter. State Street Corp grew its stake in shares of Novartis by 0.8% in the 2nd quarter. State Street Corp now owns 1,597,830 shares of the company’s stock worth $195,552,000 after buying an additional 12,345 shares in the last quarter. Finally, Scharf Investments LLC increased its holdings in shares of Novartis by 0.3% in the 2nd quarter. Scharf Investments LLC now owns 1,262,444 shares of the company’s stock worth $152,770,000 after buying an additional 3,805 shares during the last quarter. 13.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NVS has been the subject of a number of analyst reports. Wall Street Zen raised shares of Novartis from a “hold” rating to a “buy” rating in a report on Saturday. Cowen restated a “hold” rating on shares of Novartis in a research report on Monday, November 10th. JPMorgan Chase & Co. upgraded Novartis from a “neutral” rating to an “overweight” rating in a report on Monday, December 8th. Bank of America raised Novartis from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 25th. Finally, HC Wainwright downgraded Novartis to a “neutral” rating in a research report on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Novartis currently has a consensus rating of “Hold” and an average price target of $119.75.

Novartis Stock Up 1.0%

Shares of NYSE:NVS opened at $144.52 on Monday. The firm has a market capitalization of $305.29 billion, a PE ratio of 19.74, a price-to-earnings-growth ratio of 1.99 and a beta of 0.51. The business has a 50 day simple moving average of $134.77 and a two-hundred day simple moving average of $127.88. Novartis AG has a 1 year low of $97.45 and a 1 year high of $146.35. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.88 and a quick ratio of 0.68.

Novartis (NYSE:NVS) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $2.25 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $13.70 billion. During the same period in the prior year, the business posted $2.06 earnings per share. Novartis’s revenue was up 8.5% on a year-over-year basis. On average, equities analysts predict that Novartis AG will post 8.45 EPS for the current 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.