Fortis Capital Advisors LLC Acquires New Stake in Novartis AG $NVS

Fortis Capital Advisors LLC acquired a new position in shares of Novartis AG (NYSE:NVS) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 6,238 shares of the company’s stock, valued at approximately $800,000.

Several other hedge funds and other institutional investors have also made changes to their positions in NVS. Fisher Asset Management LLC raised its holdings in Novartis by 5.3% during the second quarter. Fisher Asset Management LLC now owns 7,121,414 shares of the company’s stock worth $861,762,000 after purchasing an additional 358,282 shares in the last quarter. Loomis Sayles & Co. L P raised its stake in shares of Novartis by 1.4% during the 2nd quarter. Loomis Sayles & Co. L P now owns 5,581,576 shares of the company’s stock worth $675,427,000 after buying an additional 78,483 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Novartis by 8.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,736,891 shares of the company’s stock valued at $210,181,000 after buying an additional 128,302 shares during the period. State Street Corp boosted its stake in shares of Novartis by 0.8% in the second quarter. State Street Corp now owns 1,597,830 shares of the company’s stock valued at $195,552,000 after buying an additional 12,345 shares in the last quarter. Finally, Chevy Chase Trust Holdings LLC grew its holdings in Novartis by 3.1% during the second quarter. Chevy Chase Trust Holdings LLC now owns 1,135,326 shares of the company’s stock worth $137,386,000 after acquiring an additional 33,954 shares during the period. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Trading Up 2.0%

Shares of Novartis stock opened at $152.08 on Wednesday. The firm has a market cap of $321.27 billion, a PE ratio of 20.78, a P/E/G ratio of 1.94 and a beta of 0.51. The business’s fifty day moving average is $137.06 and its two-hundred day moving average is $129.08. Novartis AG has a fifty-two week low of $97.71 and a fifty-two week high of $152.48. The company has a quick ratio of 0.68, a current ratio of 0.88 and a debt-to-equity ratio of 0.50.

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

Analyst Ratings Changes

Several brokerages have commented on NVS. HSBC restated a “reduce” rating and set a $112.00 target price on shares of Novartis in a research report on Wednesday, December 10th. HC Wainwright lowered shares of Novartis to a “neutral” rating in a research report on Monday, October 27th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Novartis in a research report on Friday, January 16th. Cfra Research upgraded Novartis to a “hold” rating in a report on Wednesday, October 29th. Finally, TD Cowen reaffirmed a “hold” rating on shares of Novartis in a report on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $119.75.

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.