Mirae Asset Global Investments Co. Ltd. Purchases New Stake in Novartis AG $NVS

Mirae Asset Global Investments Co. Ltd. purchased a new stake in Novartis AG (NYSE:NVS) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 50,225 shares of the company’s stock, valued at approximately $7,161,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. CPC Advisors LLC grew its holdings in shares of Novartis by 4.6% in the 2nd quarter. CPC Advisors LLC now owns 1,516 shares of the company’s stock worth $238,000 after acquiring an additional 66 shares during the last quarter. Canopy Partners LLC lifted its holdings in shares of Novartis by 1.9% during the third quarter. Canopy Partners LLC now owns 3,525 shares of the company’s stock valued at $503,000 after purchasing an additional 67 shares during the last quarter. Busey Bank lifted its holdings in shares of Novartis by 2.8% during the third quarter. Busey Bank now owns 2,521 shares of the company’s stock valued at $359,000 after purchasing an additional 69 shares during the last quarter. Moody National Bank Trust Division lifted its holdings in shares of Novartis by 4.2% during the second quarter. Moody National Bank Trust Division now owns 1,802 shares of the company’s stock valued at $282,000 after purchasing an additional 72 shares during the last quarter. Finally, PFG Investments LLC boosted its position in shares of Novartis by 1.8% in the 2nd quarter. PFG Investments LLC now owns 4,173 shares of the company’s stock valued at $654,000 after purchasing an additional 72 shares during the period. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Stock Performance

Shares of Novartis stock opened at $164.98 on Thursday. Novartis AG has a 12 month low of $123.24 and a 12 month high of $170.46. The company has a quick ratio of 0.70, a current ratio of 0.88 and a debt-to-equity ratio of 0.98. The stock has a market cap of $314.81 billion, a PE ratio of 31.49, a price-to-earnings-growth ratio of 2.93 and a beta of 0.40. The business has a fifty day simple moving average of $148.58 and a 200-day simple moving average of $152.07.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Tuesday, October 27th. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.25 by $0.21. The firm had revenue of $15.03 billion for the quarter, compared to analyst estimates of $14.53 billion. Novartis had a return on equity of 41.04% and a net margin of 18.11%. Novartis’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.25 earnings per share. On average, sell-side analysts anticipate that Novartis AG will post 9.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NVS. Wall Street Zen raised Novartis from a “hold” rating to a “buy” rating in a research note on Saturday, October 31st. HSBC raised shares of Novartis from a “reduce” rating to a “hold” rating and upped their price objective for the company from $123.00 to $136.00 in a research note on Thursday, September 10th. Morgan Stanley reiterated an “overweight” rating and issued a $163.00 target price on shares of Novartis in a report on Wednesday, October 28th. DZ Bank assumed coverage on shares of Novartis in a research report on Wednesday, October 28th. They issued a “hold” rating on the stock. Finally, Royal Bank Of Canada restated a “sector perform” rating on shares of Novartis in a report on Wednesday, October 28th. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $152.25.

Novartis Company Profile

Novartis AG is a Switzerland-based pharmaceutical company focused on the discovery, development and commercialization of innovative medicines. The company’s research and commercial activities span areas including cardiovascular, renal and metabolic diseases, immunology, neuroscience, oncology and hematology. Its portfolio includes prescription medicines such as Entresto, Cosentyx, Kisqali, Kesimpta, Leqvio, Pluvicto and Scemblix.

Novartis serves patients and healthcare providers in markets around the world.