Mirae Asset Global Investments Co. Ltd. Acquires 56,424 Shares of Novartis AG $NVS

Mirae Asset Global Investments Co. Ltd. grew its holdings in Novartis AG (NYSE:NVS) by 40.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 195,986 shares of the company’s stock after acquiring an additional 56,424 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Novartis were worth $30,715,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in NVS. Madson Wealth Advisors Inc grew its position in shares of Novartis by 11.3% during the second quarter. Madson Wealth Advisors Inc now owns 7,299 shares of the company’s stock worth $1,144,000 after purchasing an additional 740 shares in the last quarter. Evolution Wealth Management Inc. lifted its holdings in Novartis by 552.0% in the 2nd quarter. Evolution Wealth Management Inc. now owns 163 shares of the company’s stock worth $26,000 after purchasing an additional 138 shares in the last quarter. CV Advisors LLC purchased a new position in Novartis in the 2nd quarter worth approximately $596,000. Summitry LLC boosted its stake in Novartis by 16.3% in the 2nd quarter. Summitry LLC now owns 2,464 shares of the company’s stock worth $386,000 after purchasing an additional 346 shares during the period. Finally, SOA Wealth Advisors LLC. grew its holdings in Novartis by 4,316.2% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 14,750 shares of the company’s stock valued at $2,312,000 after buying an additional 14,416 shares in the last quarter. Institutional investors own 13.12% of the company’s stock.

Novartis Trading Down 0.3%

Shares of NVS stock opened at $151.85 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.67 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $289.76 billion, a price-to-earnings ratio of 22.90, a price-to-earnings-growth ratio of 2.61 and a beta of 0.45. Novartis AG has a 12-month low of $120.78 and a 12-month high of $170.46. The stock’s 50-day moving average price is $153.68 and its 200-day moving average price is $153.41.

Novartis (NYSE:NVS) last released its quarterly earnings results on Tuesday, June 30th. The company reported $2.41 earnings per share for the quarter. Novartis had a return on equity of 38.56% and a net margin of 23.29%.The business had revenue of $14.95 billion during the quarter. Equities research analysts predict that Novartis AG will post 8.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Citigroup reiterated a “buy” rating on shares of Novartis in a research report on Wednesday, July 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Novartis in a research note on Friday, July 24th. Seven investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Novartis currently has a consensus rating of “Hold” and an average price target of $141.20.

Novartis Company Profile

Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.

The company’s activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.