QRG Capital Management Inc. Has $23.04 Million Holdings in Novartis AG $NVS

QRG Capital Management Inc. boosted its position in Novartis AG (NYSE:NVS) by 13.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 150,844 shares of the company’s stock after purchasing an additional 17,731 shares during the period. QRG Capital Management Inc.’s holdings in Novartis were worth $23,041,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Arlington Trust Co LLC bought a new position in shares of Novartis during the 4th quarter worth approximately $25,000. CrossGen Wealth LLC bought a new stake in shares of Novartis in the 4th quarter valued at $28,000. Bank of Jackson Hole Trust lifted its position in shares of Novartis by 425.0% during 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. Measured Wealth Private Client Group LLC acquired a new position in shares of Novartis during the 3rd quarter valued at $33,000. Finally, Nalls Sherbakoff Group LLC bought a new position in Novartis during the fourth quarter worth $34,000. Institutional investors own 13.12% of the company’s stock.

Novartis Stock Down 0.1%

Shares of NYSE:NVS opened at $159.82 on Friday. The business’s 50 day moving average is $149.84 and its 200 day moving average is $150.42. Novartis AG has a 12-month low of $112.34 and a 12-month high of $170.46. The stock has a market cap of $304.96 billion, a price-to-earnings ratio of 22.90, a PEG ratio of 2.73 and a beta of 0.45. The company has a quick ratio of 0.65, a current ratio of 0.85 and a debt-to-equity ratio of 0.96.

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

Wall Street Analyst Weigh In

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

Novartis Company Profile

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.