BXM Wealth LLC Invests $487,000 in Novartis AG (NYSE:NVS)

BXM Wealth LLC bought a new position in shares of Novartis AG (NYSE:NVS) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 5,005 shares of the company’s stock, valued at approximately $487,000.

A number of other institutional investors have also modified their holdings of NVS. Creative Planning increased its position in shares of Novartis by 4.1% during the third quarter. Creative Planning now owns 344,951 shares of the company’s stock worth $39,676,000 after acquiring an additional 13,486 shares during the period. Cornerstone Wealth Management LLC increased its holdings in Novartis by 5.8% during the third quarter. Cornerstone Wealth Management LLC now owns 2,659 shares of the company’s stock valued at $306,000 after buying an additional 145 shares during the period. Global Retirement Partners LLC increased its holdings in Novartis by 6.1% during the third quarter. Global Retirement Partners LLC now owns 6,864 shares of the company’s stock valued at $789,000 after buying an additional 394 shares during the period. Greenup Street Wealth Management LLC increased its holdings in Novartis by 6.2% during the third quarter. Greenup Street Wealth Management LLC now owns 35,979 shares of the company’s stock valued at $4,138,000 after buying an additional 2,111 shares during the period. Finally, Cardinal Capital Management increased its holdings in Novartis by 0.9% during the third quarter. Cardinal Capital Management now owns 47,319 shares of the company’s stock valued at $5,443,000 after buying an additional 444 shares during the period. 13.12% of the stock is owned by hedge funds and other institutional investors.

Novartis Trading Down 2.1 %

NYSE:NVS opened at $105.43 on Friday. Novartis AG has a 12 month low of $92.35 and a 12 month high of $120.92. The firm has a fifty day simple moving average of $100.63 and a 200-day simple moving average of $108.33. The company has a current ratio of 1.04, a quick ratio of 0.90 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $215.50 billion, a P/E ratio of 17.93, a PEG ratio of 1.70 and a beta of 0.58.

Novartis (NYSE:NVS) last posted its quarterly earnings data on Friday, January 31st. The company reported $1.98 EPS for the quarter, topping the consensus estimate of $1.80 by $0.18. Novartis had a net margin of 23.56% and a return on equity of 37.24%. On average, equities research analysts anticipate that Novartis AG will post 8.42 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Erste Group Bank reissued a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft raised shares of Novartis from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Morgan Stanley initiated coverage on shares of Novartis in a report on Wednesday. They set an “underweight” rating on the stock. HSBC downgraded shares of Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. Finally, StockNews.com upgraded shares of Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 8th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Novartis presently has an average rating of “Hold” and a consensus price target of $123.38.

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.