Arrowpoint Investment Partners Singapore Pte. Ltd. Makes New Investment in Novartis AG $NVS

Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new stake in shares of Novartis AG (NYSE:NVS) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 6,200 shares of the company’s stock, valued at approximately $855,000.

Other institutional investors also recently modified their holdings of the company. Fisher Asset Management LLC raised its holdings in Novartis by 3.1% in the 4th quarter. Fisher Asset Management LLC now owns 7,465,850 shares of the company’s stock worth $1,029,317,000 after acquiring an additional 226,484 shares during the period. Bank of America Corp DE increased its stake in shares of Novartis by 1.7% in the third quarter. Bank of America Corp DE now owns 4,605,878 shares of the company’s stock worth $590,658,000 after purchasing an additional 78,390 shares during the period. Northern Trust Corp increased its stake in shares of Novartis by 7.7% in the third quarter. Northern Trust Corp now owns 2,371,389 shares of the company’s stock worth $304,107,000 after purchasing an additional 168,573 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Novartis by 4.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,819,260 shares of the company’s stock worth $233,302,000 after purchasing an additional 82,369 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its stake in Novartis by 77.7% during the 3rd quarter. Raymond James Financial Inc. now owns 1,648,174 shares of the company’s stock valued at $211,362,000 after purchasing an additional 720,860 shares during the period. Institutional investors own 13.12% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on NVS. Sanford C. Bernstein upgraded Novartis to a “hold” rating in a report on Thursday, March 19th. Weiss Ratings downgraded shares of Novartis from a “buy (a-)” rating to a “buy (b)” rating in a research note on Wednesday, April 29th. Argus raised shares of Novartis from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a research report on Wednesday, March 11th. Wall Street Zen downgraded shares of Novartis from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Finally, DZ Bank lowered shares of Novartis from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Seven analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $141.20.

Novartis Trading Up 3.3%

Shares of NVS stock opened at $148.39 on Friday. The company has a market capitalization of $283.14 billion, a P/E ratio of 21.26, a P/E/G ratio of 2.52 and a beta of 0.46. Novartis AG has a 12-month low of $112.34 and a 12-month high of $170.46. The company has a quick ratio of 0.65, a current ratio of 0.85 and a debt-to-equity ratio of 0.96. The firm has a 50-day moving average price of $149.60 and a 200 day moving average price of $147.26.

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

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.