Townsquare Capital LLC Raises Holdings in Novartis AG (NYSE:NVS)

Townsquare Capital LLC raised its holdings in Novartis AG (NYSE:NVS) by 38.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,759 shares of the company’s stock after purchasing an additional 11,866 shares during the quarter. Townsquare Capital LLC’s holdings in Novartis were worth $4,918,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. New Millennium Group LLC purchased a new stake in Novartis in the 2nd quarter valued at about $28,000. Lynx Investment Advisory purchased a new position in shares of Novartis in the 2nd quarter valued at about $29,000. Industrial Alliance Investment Management Inc. acquired a new stake in Novartis in the second quarter valued at $30,000. Richardson Financial Services Inc. acquired a new position in shares of Novartis in the 2nd quarter valued at $30,000. Finally, Strategic Financial Concepts LLC purchased a new position in shares of Novartis in the 2nd quarter valued at $35,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Stock Up 1.0 %

Novartis stock opened at $104.87 on Friday. The stock’s 50 day moving average price is $110.92 and its 200 day moving average price is $110.16. The company has a market cap of $214.35 billion, a PE ratio of 12.18, a price-to-earnings-growth ratio of 1.51 and a beta of 0.58. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.11 and a quick ratio of 0.90. Novartis AG has a 1-year low of $92.35 and a 1-year high of $120.92.

Novartis (NYSE:NVS) last issued its earnings results on Tuesday, October 29th. The company reported $2.06 EPS for the quarter, topping the consensus estimate of $1.94 by $0.12. The company had revenue of $12.82 billion for the quarter, compared to analyst estimates of $12.62 billion. Novartis had a net margin of 35.96% and a return on equity of 34.80%. During the same period in the previous year, the firm earned $1.74 EPS. On average, sell-side analysts predict that Novartis AG will post 7.66 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on NVS shares. Erste Group Bank reiterated a “hold” rating on shares of Novartis in a research report on Tuesday, November 19th. BMO Capital Markets increased their target price on shares of Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group restated a “neutral” rating and issued a $121.00 price target (up previously from $119.00) on shares of Novartis in a research report on Thursday, September 5th. Bank of America cut Novartis from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $135.00 to $130.00 in a research report on Wednesday, September 11th. Finally, Jefferies Financial Group lowered Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $121.50.

Novartis Company 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.