BTC Capital Management Inc. Takes Position in Novartis AG (NYSE:NVS)

BTC Capital Management Inc. acquired a new stake in Novartis AG (NYSE:NVSFree Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 12,901 shares of the company’s stock, valued at approximately $1,248,000.

Other large investors have also recently added to or reduced their stakes in the company. Frazier Financial Advisors LLC acquired a new position in Novartis in the 4th quarter valued at approximately $26,000. Richardson Financial Services Inc. acquired a new position in Novartis in the 4th quarter valued at approximately $26,000. Operose Advisors LLC acquired a new position in Novartis in the 3rd quarter valued at approximately $28,000. Planned Solutions Inc. acquired a new position in Novartis in the 4th quarter valued at approximately $31,000. Finally, AdvisorNet Financial Inc increased its stake in Novartis by 480.0% in the 4th quarter. AdvisorNet Financial Inc now owns 348 shares of the company’s stock valued at $35,000 after buying an additional 288 shares during the period. Institutional investors and hedge funds own 13.12% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on NVS. BMO Capital Markets boosted their target price on shares of Novartis from $114.00 to $116.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 24th. The Goldman Sachs Group began coverage on shares of Novartis in a research report on Thursday, May 30th. They issued a “buy” rating and a $120.00 target price for the company. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $116.67.

Read Our Latest Analysis on NVS

Novartis Price Performance

NYSE NVS opened at $105.22 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.71 and a debt-to-equity ratio of 0.43. The company has a fifty day simple moving average of $100.88 and a 200 day simple moving average of $100.84. The company has a market cap of $215.07 billion, a P/E ratio of 14.19, a P/E/G ratio of 1.62 and a beta of 0.58. Novartis AG has a 1 year low of $92.19 and a 1 year high of $108.78.

Novartis (NYSE:NVSGet Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.07. The business had revenue of $11.83 billion during the quarter, compared to the consensus estimate of $11.50 billion. Novartis had a net margin of 31.33% and a return on equity of 32.15%. On average, sell-side analysts predict that Novartis AG will post 7.27 EPS for the current year.

Novartis Company Profile

(Free Report)

Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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