Strategic Blueprint LLC Acquires Shares of 1,802 Novartis AG (NYSE:NVS)

Strategic Blueprint LLC purchased a new position in shares of Novartis AG (NYSE:NVS) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,802 shares of the company’s stock, valued at approximately $207,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Founders Financial Securities LLC raised its position in shares of Novartis by 3.4% during the 2nd quarter. Founders Financial Securities LLC now owns 2,832 shares of the company’s stock worth $301,000 after purchasing an additional 94 shares during the period. Steigerwald Gordon & Koch Inc. raised its position in shares of Novartis by 4.8% during the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 2,091 shares of the company’s stock worth $241,000 after purchasing an additional 95 shares during the period. NBC Securities Inc. raised its position in shares of Novartis by 0.9% during the 2nd quarter. NBC Securities Inc. now owns 10,492 shares of the company’s stock worth $1,116,000 after purchasing an additional 97 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Novartis by 5.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,013 shares of the company’s stock worth $196,000 after purchasing an additional 98 shares during the period. Finally, Portside Wealth Group LLC grew its holdings in Novartis by 3.4% in the 2nd quarter. Portside Wealth Group LLC now owns 3,000 shares of the company’s stock worth $319,000 after buying an additional 99 shares in the last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NVS. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Novartis in a report on Friday, July 19th. Bank of America lowered Novartis from a “buy” rating to a “neutral” rating and decreased their price target for the company from $135.00 to $130.00 in a research note on Wednesday, September 11th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $121.00 price target (up from $119.00) on shares of Novartis in a research note on Thursday, September 5th. Jefferies Financial Group lowered Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. Finally, BMO Capital Markets increased their price target on Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Novartis has an average rating of “Hold” and an average target price of $121.50.

Novartis Stock Up 0.9 %

NVS stock opened at $109.34 on Friday. Novartis AG has a 12-month low of $92.35 and a 12-month high of $120.92. The company has a quick ratio of 0.72, a current ratio of 1.11 and a debt-to-equity ratio of 0.55. The company has a market cap of $223.49 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 1.59 and a beta of 0.57. The company has a 50 day moving average of $115.76 and a two-hundred day moving average of $109.12.

Novartis (NYSE:NVS) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $2.06 EPS for the quarter, beating the consensus estimate of $1.94 by $0.12. The business had revenue of $12.82 billion during the quarter, compared to analysts’ expectations of $12.62 billion. Novartis had a return on equity of 34.80% and a net margin of 35.96%. During the same quarter in the previous year, the business posted $1.74 EPS. On average, equities analysts anticipate that Novartis AG will post 7.56 earnings per share for the current fiscal year.

Novartis Profile

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.