Atomi Financial Group Inc. Purchases 4,389 Shares of Novartis AG (NYSE:NVS)

Atomi Financial Group Inc. grew its holdings in Novartis AG (NYSE:NVS) by 31.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,391 shares of the company’s stock after acquiring an additional 4,389 shares during the quarter. Atomi Financial Group Inc.’s holdings in Novartis were worth $2,115,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of NVS. Private Ocean LLC acquired a new stake in Novartis during the first quarter worth approximately $25,000. Richardson Financial Services Inc. bought a new position in shares of Novartis in the fourth quarter worth $26,000. New Millennium Group LLC bought a new position in shares of Novartis in the second quarter worth $28,000. Clearstead Trust LLC raised its stake 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 purchasing an additional 114 shares in the last quarter. Finally, Lynx Investment Advisory bought a new stake in Novartis during the second quarter worth about $29,000. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Price Performance

Shares of NVS stock traded up $0.07 on Tuesday, hitting $113.93. 162,267 shares of the company’s stock were exchanged, compared to its average volume of 1,361,324. 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 AG has a 12 month low of $92.19 and a 12 month high of $120.92. The stock has a market cap of $232.87 billion, a P/E ratio of 15.37, a price-to-earnings-growth ratio of 1.71 and a beta of 0.57. The company has a 50 day moving average of $115.43 and a 200 day moving average of $106.68.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Thursday, July 18th. The company reported $1.97 earnings per share 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 business had revenue of $12.87 billion during the quarter, compared to the consensus estimate of $12.24 billion. During the same period in the prior year, the company earned $1.83 EPS. On average, equities research analysts predict that Novartis AG will post 7.5 EPS for the current year.

Wall Street Analysts Forecast Growth

NVS has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Novartis in a report on Friday, July 19th. The Goldman Sachs Group reissued a “neutral” rating and issued a $121.00 price objective (up from $119.00) on shares of Novartis in a research note on Thursday, September 5th. Bank of America cut Novartis from a “buy” rating to a “neutral” rating and cut their target price for the stock from $135.00 to $130.00 in a research note on Wednesday, September 11th. Jefferies Financial Group downgraded Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. Finally, Barclays raised Novartis to a “strong sell” rating in a report on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Novartis has a consensus rating of “Hold” and an average price target of $120.70.

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.