Axxcess Wealth Management LLC Buys 16,720 Shares of Novartis AG $NVS

Axxcess Wealth Management LLC increased its stake in shares of Novartis AG (NYSE:NVS) by 210.8% during the fourth quarter, HoldingsChannel reports. The fund owned 24,651 shares of the company’s stock after acquiring an additional 16,720 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Novartis were worth $3,398,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of NVS. Raymond James Financial Inc. increased its position in Novartis by 77.7% during the third quarter. Raymond James Financial Inc. now owns 1,648,174 shares of the company’s stock worth $211,362,000 after acquiring an additional 720,860 shares during the period. CIBC Bancorp USA Inc. bought a new stake in Novartis in the 3rd quarter valued at $64,563,000. Bank of Montreal Can increased its holdings in Novartis by 85.0% in the 3rd quarter. Bank of Montreal Can now owns 1,045,191 shares of the company’s stock valued at $134,035,000 after buying an additional 480,201 shares during the period. Tidal Investments LLC increased its holdings in Novartis by 3,309.5% in the 3rd quarter. Tidal Investments LLC now owns 301,436 shares of the company’s stock valued at $38,656,000 after buying an additional 292,595 shares during the period. Finally, Woodley Farra Manion Portfolio Management Inc. increased its holdings in Novartis by 78.0% in the 3rd quarter. Woodley Farra Manion Portfolio Management Inc. now owns 606,780 shares of the company’s stock valued at $77,813,000 after buying an additional 265,861 shares during the period. Institutional investors own 13.12% of the company’s stock.

Novartis Stock Up 0.1%

Shares of NYSE:NVS opened at $152.14 on Monday. Novartis AG has a 52 week low of $111.06 and a 52 week high of $170.46. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.65 and a current ratio of 0.85. The company’s fifty day moving average is $150.02 and its 200-day moving average is $145.99. The company has a market capitalization of $290.31 billion, a PE ratio of 21.80, a P/E/G ratio of 2.67 and a beta of 0.46.

Novartis (NYSE:NVS) last issued its earnings results on Monday, April 27th. The company reported $1.99 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.12). Novartis had a net margin of 24.87% and a return on equity of 38.82%. The firm had revenue of $13.52 billion during the quarter, compared to analyst estimates of $13.44 billion. During the same quarter in the prior year, the firm posted $2.28 EPS. The firm’s revenue for the quarter was down .9% on a year-over-year basis. Equities research analysts predict that Novartis AG will post 8.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on NVS shares. Wall Street Zen lowered shares of Novartis from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Citigroup reissued a “buy” rating on shares of Novartis in a report on Thursday, February 5th. Morgan Stanley boosted their price target on shares of Novartis from $143.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, March 26th. DZ Bank lowered shares of Novartis from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th. Finally, Sanford C. Bernstein raised shares of Novartis to a “hold” rating in a report on Thursday, March 19th. Seven analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $141.20.

Novartis Profile

Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.

The company’s activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.