EverSource Wealth Advisors LLC Has $196,000 Stock Position in Novartis AG (NYSE:NVS)

EverSource Wealth Advisors LLC grew its stake in shares of Novartis AG (NYSE:NVS) by 5.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,013 shares of the company’s stock after purchasing an additional 98 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Novartis were worth $196,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Pathway Financial Advisers LLC acquired a new position in shares of Novartis during the 1st quarter worth approximately $57,000. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Novartis during the 1st quarter worth approximately $16,715,000. Cetera Advisors LLC increased its holdings in shares of Novartis by 82.7% during the 1st quarter. Cetera Advisors LLC now owns 25,175 shares of the company’s stock worth $2,435,000 after acquiring an additional 11,395 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of Novartis by 389.6% during the 1st quarter. Cetera Investment Advisers now owns 106,535 shares of the company’s stock worth $10,305,000 after acquiring an additional 84,777 shares during the last quarter. Finally, Atria Investments Inc increased its holdings in shares of Novartis by 8.6% during the 1st quarter. Atria Investments Inc now owns 48,481 shares of the company’s stock worth $4,688,000 after acquiring an additional 3,834 shares during the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on NVS shares. The Goldman Sachs Group started coverage on Novartis in a report on Thursday, May 30th. They set a “buy” rating and a $120.00 target price on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Novartis in a report on Friday, July 19th. BMO Capital Markets boosted their target price on Novartis from $114.00 to $116.00 and gave the stock a “market perform” rating in a report on Wednesday, April 24th. Barclays upgraded Novartis to a “strong sell” rating in a research note on Monday, June 24th. Finally, Jefferies Financial Group boosted their price target on Novartis from $121.00 to $122.50 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Novartis presently has an average rating of “Hold” and a consensus price target of $118.13.

Novartis Stock Performance

NVS traded up $0.77 during trading on Friday, hitting $112.87. The stock had a trading volume of 1,678,907 shares, compared to its average volume of 1,504,443. The company has a 50 day moving average price of $106.99 and a 200-day moving average price of $102.47. The firm has a market cap of $230.71 billion, a price-to-earnings ratio of 15.23, a P/E/G ratio of 1.65 and a beta of 0.57. Novartis AG has a one year low of $92.19 and a one year high of $113.00. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.93 and a quick ratio of 0.72.

Novartis (NYSE:NVS) last released its earnings results on Thursday, July 18th. The company reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.10. The firm had revenue of $12.87 billion during the quarter, compared to the consensus estimate of $12.24 billion. Novartis had a return on equity of 34.56% and a net margin of 33.76%. During the same period in the prior year, the company posted $1.83 EPS. As a group, research analysts predict that Novartis AG will post 7.41 EPS for the current year.

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.