Geneos Wealth Management Inc. Increases Stock Holdings in Novartis AG $NVS

Geneos Wealth Management Inc. increased its stake in Novartis AG (NYSE:NVS) by 52.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 50,728 shares of the company’s stock after acquiring an additional 17,446 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Novartis were worth $6,139,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. WPG Advisers LLC acquired a new position in shares of Novartis during the 1st quarter worth about $25,000. GFG Capital LLC purchased a new stake in Novartis during the 2nd quarter worth approximately $26,000. Legacy Investment Solutions LLC acquired a new position in shares of Novartis during the second quarter valued at approximately $30,000. Barrett & Company Inc. purchased a new position in shares of Novartis in the second quarter valued at approximately $31,000. Finally, MCF Advisors LLC lifted its position in shares of Novartis by 66.0% in the second quarter. MCF Advisors LLC now owns 264 shares of the company’s stock valued at $32,000 after acquiring an additional 105 shares in the last quarter. 13.12% of the stock is owned by hedge funds and other institutional investors.

Novartis Price Performance

Novartis stock opened at $132.50 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.68 and a debt-to-equity ratio of 0.50. The company has a 50-day moving average price of $129.41 and a 200 day moving average price of $124.15. Novartis AG has a 12-month low of $96.06 and a 12-month high of $134.24. The stock has a market cap of $279.90 billion, a P/E ratio of 18.10, a PEG ratio of 1.87 and a beta of 0.52.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $2.25 earnings per share for the quarter, missing the consensus estimate of $2.26 by ($0.01). The firm had revenue of $14.36 billion during the quarter, compared to analysts’ expectations of $13.70 billion. Novartis had a net margin of 26.49% and a return on equity of 41.21%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period last year, the company earned $2.06 EPS. Sell-side analysts anticipate that Novartis AG will post 8.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on NVS shares. JPMorgan Chase & Co. upgraded Novartis from a “neutral” rating to an “overweight” rating in a research report on Monday, December 8th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Novartis in a research report on Thursday, August 21st. HC Wainwright lowered shares of Novartis to a “neutral” rating in a research report on Monday, October 27th. Cfra Research raised shares of Novartis to a “hold” rating in a research note on Wednesday, October 29th. Finally, Cfra set a $126.00 target price on shares of Novartis and gave the stock a “hold” rating in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Novartis presently has a consensus rating of “Hold” and a consensus price target of $119.75.

About Novartis

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.