Novartis AG $NVS Stock Position Increased by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC raised its position in shares of Novartis AG (NYSE:NVS) by 392.9% in the first quarter, HoldingsChannel reports. The firm owned 47,517 shares of the company’s stock after acquiring an additional 37,876 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Novartis were worth $7,258,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in NVS. Arlington Trust Co LLC bought a new stake in shares of Novartis during the fourth quarter valued at approximately $25,000. CrossGen Wealth LLC bought a new position in Novartis in the 4th quarter worth approximately $28,000. Bank of Jackson Hole Trust increased its position in Novartis by 425.0% in the 4th quarter. Bank of Jackson Hole Trust now owns 231 shares of the company’s stock valued at $32,000 after acquiring an additional 187 shares during the period. Nalls Sherbakoff Group LLC acquired a new stake in Novartis in the 4th quarter valued at approximately $34,000. Finally, Measured Wealth Private Client Group LLC bought a new stake in Novartis during the 3rd quarter valued at $33,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Analyst Ratings Changes

NVS has been the subject of a number of analyst reports. Sanford C. Bernstein upgraded Novartis to a “hold” rating in a research report on Thursday, March 19th. Morgan Stanley raised their price target on Novartis from $143.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, March 26th. Argus upgraded shares of Novartis from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a research note on Wednesday, March 11th. Finally, Weiss Ratings downgraded shares of Novartis from a “buy (a-)” rating to a “buy (b)” rating in a report on Wednesday, April 29th. Seven investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $141.20.

Novartis Price Performance

NYSE NVS opened at $159.82 on Friday. Novartis AG has a 12 month low of $112.34 and a 12 month high of $170.46. The firm has a market capitalization of $304.96 billion, a PE ratio of 22.90, a P/E/G ratio of 2.73 and a beta of 0.45. The company’s 50 day simple moving average is $149.84 and its 200 day simple moving average is $150.42. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.85 and a quick ratio of 0.65.

Novartis (NYSE:NVS) last released its earnings results on Monday, April 27th. The company reported $1.99 earnings per share for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.12). The firm had revenue of $13.52 billion during the quarter, compared to analyst estimates of $13.44 billion. Novartis had a return on equity of 38.82% and a net margin of 24.87%.The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter last year, the company earned $2.28 earnings per share. As a group, equities research analysts forecast that Novartis AG will post 8.86 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.