Mitchell Sinkler & Starr PA Buys 160 Shares of Novartis AG $NVS

Mitchell Sinkler & Starr PA lifted its stake in Novartis AG (NYSE:NVS) by 5.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,343 shares of the company’s stock after acquiring an additional 160 shares during the period. Mitchell Sinkler & Starr PA’s holdings in Novartis were worth $405,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in NVS. Sonora Investment Management Group LLC acquired a new position in Novartis during the 2nd quarter valued at about $266,000. Focus Partners Wealth increased its position in Novartis by 16.8% during the 1st quarter. Focus Partners Wealth now owns 47,548 shares of the company’s stock valued at $5,311,000 after buying an additional 6,849 shares in the last quarter. Marshall Financial Group LLC acquired a new position in Novartis during the 2nd quarter valued at about $1,909,000. Geneos Wealth Management Inc. grew its stake in Novartis by 10.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 33,282 shares of the company’s stock valued at $3,710,000 after purchasing an additional 3,126 shares during the last quarter. Finally, DAVENPORT & Co LLC grew its stake in Novartis by 8.9% during the 2nd quarter. DAVENPORT & Co LLC now owns 33,683 shares of the company’s stock valued at $4,076,000 after purchasing an additional 2,758 shares during the last quarter. 13.12% of the stock is owned by institutional investors and hedge funds.

Novartis Stock Down 0.8%

Shares of NVS opened at $130.05 on Friday. Novartis AG has a 52 week low of $96.06 and a 52 week high of $133.55. The company has a quick ratio of 0.62, a current ratio of 0.82 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $274.72 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 1.80 and a beta of 0.64. The stock’s 50-day moving average price is $125.14 and its 200-day moving average price is $117.91.

Novartis (NYSE:NVS) last issued its earnings results on Thursday, July 17th. The company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.04. Novartis had a return on equity of 41.08% and a net margin of 25.64%.The firm had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $13.94 billion. During the same quarter in the prior year, the business earned $1.97 earnings per share. The company’s revenue was up 12.3% compared to the same quarter last year. On average, sell-side analysts predict that Novartis AG will post 8.45 EPS for the current year.

Wall Street Analyst Weigh In

NVS has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Novartis in a research note on Thursday, August 21st. The Goldman Sachs Group reiterated a “sell” rating and set a $118.00 price target (down previously from $119.00) on shares of Novartis in a research note on Friday, September 12th. Wall Street Zen upgraded Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Weiss Ratings reiterated a “buy (b)” rating on shares of Novartis in a research note on Wednesday. Finally, Morgan Stanley upgraded Novartis from an “underweight” rating to an “equal weight” rating and set a $123.00 price target on the stock in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Novartis has an average rating of “Hold” and a consensus price target of $120.33.

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.