Focus Financial Network Inc. Grows Position in Novartis AG $NVS

Focus Financial Network Inc. grew its position in Novartis AG (NYSE:NVS) by 6.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,183 shares of the company’s stock after acquiring an additional 182 shares during the quarter. Focus Financial Network Inc.’s holdings in Novartis were worth $385,000 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. Nexus Investment Management ULC bought a new position in Novartis during the 1st quarter worth about $25,000. WPG Advisers LLC purchased a new position in shares of Novartis in the 1st quarter valued at approximately $25,000. Tsfg LLC raised its position in Novartis by 366.0% during the 1st quarter. Tsfg LLC now owns 233 shares of the company’s stock worth $26,000 after buying an additional 183 shares during the last quarter. Park Square Financial Group LLC purchased a new position in Novartis during the 4th quarter worth approximately $30,000. Finally, Alpine Bank Wealth Management purchased a new position in shares of Novartis during the 1st quarter valued at approximately $33,000. 13.12% of the stock is currently owned by institutional investors.

Novartis Stock Performance

Shares of NYSE NVS opened at $122.84 on Friday. Novartis AG has a 52 week low of $96.06 and a 52 week high of $130.46. The stock has a market capitalization of $259.49 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 1.72 and a beta of 0.63. The stock has a 50 day moving average price of $121.77 and a 200 day moving average price of $116.22. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.62 and a current ratio of 0.82.

Novartis (NYSE:NVS) last released its quarterly earnings results on Thursday, July 17th. The company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.04. Novartis had a return on equity of 41.08% and a net margin of 25.64%.The business had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $13.94 billion. During the same period last year, the firm posted $1.97 EPS. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. Analysts predict that Novartis AG will post 8.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on NVS shares. Morgan Stanley raised shares of Novartis from an “underweight” rating to an “equal weight” rating and set a $123.00 target price on the stock in a research note on Friday, August 8th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $118.00 price target (down from $119.00) on shares of Novartis in a report on Friday, September 12th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Novartis in a research note on Thursday, August 21st. Finally, Wall Street Zen cut Novartis from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $120.33.

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.