Dearborn Partners LLC Acquires New Stake in Novartis AG $NVS

Dearborn Partners LLC bought a new position in shares of Novartis AG (NYSE:NVS) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 32,039 shares of the company’s stock, valued at approximately $5,021,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NVS. SOA Wealth Advisors LLC. boosted its holdings in Novartis by 4,316.2% in the second quarter. SOA Wealth Advisors LLC. now owns 14,750 shares of the company’s stock valued at $2,312,000 after acquiring an additional 14,416 shares during the last quarter. Truist Financial Corp raised its holdings in Novartis by 6.6% during the 4th quarter. Truist Financial Corp now owns 887,296 shares of the company’s stock worth $122,332,000 after purchasing an additional 54,682 shares during the last quarter. Brighton Jones LLC lifted its position in shares of Novartis by 76.5% in the 4th quarter. Brighton Jones LLC now owns 6,153 shares of the company’s stock worth $599,000 after purchasing an additional 2,666 shares during the period. Presilium Private Wealth LLC acquired a new position in shares of Novartis in the 1st quarter worth approximately $703,000. Finally, Mission Wealth Management LP boosted its stake in shares of Novartis by 85.7% in the 2nd quarter. Mission Wealth Management LP now owns 19,690 shares of the company’s stock valued at $3,086,000 after purchasing an additional 9,086 shares during the last quarter. 13.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on NVS shares. Citigroup reiterated a “buy” rating on shares of Novartis in a research report on Wednesday, July 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Novartis in a report on Friday, July 24th. Seven research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $141.20.

Novartis Stock Performance

Shares of NVS stock opened at $154.54 on Friday. The company has a market cap of $294.88 billion, a price-to-earnings ratio of 23.31, a price-to-earnings-growth ratio of 2.70 and a beta of 0.45. Novartis AG has a 52 week low of $121.57 and a 52 week high of $170.46. The company has a quick ratio of 0.67, a current ratio of 0.86 and a debt-to-equity ratio of 0.89. The firm has a 50 day moving average of $154.94 and a 200-day moving average of $153.78.

Novartis (NYSE:NVS) last released its earnings results on Tuesday, June 30th. The company reported $2.41 earnings per share (EPS) for the quarter. The company had revenue of $14.95 billion for the quarter. Novartis had a net margin of 23.29% and a return on equity of 38.56%. On average, equities analysts forecast that Novartis AG will post 8.85 earnings per share for the current year.

Novartis 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.