10,600 Shares in Novartis AG (NYSE:NVS) Purchased by Bayesian Capital Management LP

Bayesian Capital Management LP bought a new position in shares of Novartis AG (NYSE:NVS) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 10,600 shares of the company’s stock, valued at approximately $1,025,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Private Ocean LLC acquired a new stake in shares of Novartis during the first quarter worth about $25,000. Frazier Financial Advisors LLC acquired a new stake in shares of Novartis during the fourth quarter worth about $26,000. Richardson Financial Services Inc. acquired a new stake in shares of Novartis during the fourth quarter worth about $26,000. Clearstead Trust LLC lifted its holdings in Novartis by 73.5% in the first quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock valued at $26,000 after acquiring an additional 114 shares during the period. Finally, AdvisorNet Financial Inc lifted its holdings in Novartis by 480.0% in the fourth quarter. AdvisorNet Financial Inc now owns 348 shares of the company’s stock valued at $35,000 after acquiring an additional 288 shares during the period. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Price Performance

Shares of NVS stock traded down $0.29 during trading hours on Wednesday, hitting $111.64. 46,963 shares of the company’s stock were exchanged, compared to its average volume of 1,464,384. The company has a quick ratio of 0.72, a current ratio of 0.93 and a debt-to-equity ratio of 0.47. The firm has a market cap of $228.19 billion, a P/E ratio of 15.10, a P/E/G ratio of 1.64 and a beta of 0.57. The firm has a 50 day moving average of $106.33 and a two-hundred day moving average of $102.34. Novartis AG has a fifty-two week low of $92.19 and a fifty-two week high of $112.48.

Novartis (NYSE:NVS) last issued its quarterly earnings results on Thursday, July 18th. The company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.87 by $0.10. Novartis had a return on equity of 34.56% and a net margin of 33.76%. The firm had revenue of $12.87 billion during the quarter, compared to analysts’ expectations of $12.24 billion. During the same period in the previous year, the business earned $1.83 earnings per share. Sell-side analysts forecast that Novartis AG will post 7.37 EPS for the current year.

Wall Street Analysts Forecast Growth

NVS has been the subject of a number of analyst reports. Jefferies Financial Group boosted their price target on Novartis from $121.00 to $122.50 and gave the company a “buy” rating in a report on Tuesday, July 2nd. BMO Capital Markets boosted their price target on Novartis from $114.00 to $116.00 and gave the company a “market perform” rating in a report on Wednesday, April 24th. The Goldman Sachs Group initiated coverage on Novartis in a report on Thursday, May 30th. They issued a “buy” rating and a $120.00 price target for the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Novartis in a report on Friday, July 19th. Finally, Barclays raised Novartis to a “strong sell” rating in a research note on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Novartis currently has a consensus rating of “Hold” and a consensus price target of $118.13.

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.