First Trust Direct Indexing L.P. Grows Stock Position in Novartis AG (NYSE:NVS)

First Trust Direct Indexing L.P. increased its holdings in Novartis AG (NYSE:NVS) by 0.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 22,769 shares of the company’s stock after acquiring an additional 128 shares during the period. First Trust Direct Indexing L.P.’s holdings in Novartis were worth $2,619,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NVS. Clearstead Trust LLC increased its position in shares of Novartis by 73.5% during the 1st quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock worth $26,000 after purchasing an additional 114 shares during the last quarter. New Millennium Group LLC acquired a new stake in shares of Novartis during the second quarter valued at about $28,000. Lynx Investment Advisory purchased a new stake in shares of Novartis in the 2nd quarter valued at approximately $29,000. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Novartis in the 2nd quarter valued at approximately $30,000. Finally, Richardson Financial Services Inc. acquired a new position in shares of Novartis in the 2nd quarter worth approximately $30,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Analyst Upgrades and Downgrades

NVS has been the topic of a number of research analyst reports. BMO Capital Markets boosted their target price on Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research report on Wednesday. Jefferies Financial Group downgraded Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Novartis in a report on Friday, July 19th. The Goldman Sachs Group reiterated a “neutral” rating and set a $121.00 price target (up from $119.00) on shares of Novartis in a research note on Thursday, September 5th. Finally, Bank of America lowered shares of Novartis from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $135.00 to $130.00 in a research note on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $121.50.

Novartis Price Performance

NVS stock opened at $109.89 on Thursday. The business’s 50-day moving average is $116.13 and its two-hundred day moving average is $109.02. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.93 and a quick ratio of 0.72. The firm has a market capitalization of $224.62 billion, a P/E ratio of 14.83, a P/E/G ratio of 1.65 and a beta of 0.57. Novartis AG has a 1 year low of $92.35 and a 1 year high of $120.92.

Novartis (NYSE:NVS) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. Novartis had a net margin of 33.76% and a return on equity of 34.56%. The company had revenue of $12.82 billion during the quarter, compared to the consensus estimate of $12.62 billion. During the same quarter in the previous year, the firm earned $1.74 earnings per share. Analysts anticipate that Novartis AG will post 7.53 earnings per share for the current fiscal year.

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.