IHT Wealth Management LLC Has $373,000 Stake in Novartis AG (NYSE:NVS)

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IHT Wealth Management LLC lifted its stake in Novartis AG (NYSE:NVS) by 22.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,296 shares of the company’s stock after acquiring an additional 782 shares during the period. IHT Wealth Management LLC’s holdings in Novartis were worth $373,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of NVS. Primecap Management Co. CA lifted its position in Novartis by 7.4% during the 2nd quarter. Primecap Management Co. CA now owns 25,617,640 shares of the company’s stock worth $2,339,147,000 after acquiring an additional 1,760,424 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Novartis by 26.6% during the 2nd quarter. Renaissance Technologies LLC now owns 4,069,357 shares of the company’s stock worth $371,573,000 after purchasing an additional 854,857 shares during the last quarter. Schafer Cullen Capital Management Inc lifted its position in shares of Novartis by 23.8% during the 2nd quarter. Schafer Cullen Capital Management Inc now owns 2,776,261 shares of the company’s stock worth $244,838,000 after purchasing an additional 533,376 shares during the last quarter. Invesco Ltd. lifted its position in shares of Novartis by 27.1% during the 2nd quarter. Invesco Ltd. now owns 2,225,649 shares of the company’s stock worth $203,224,000 after purchasing an additional 474,241 shares during the last quarter. Finally, Scharf Investments LLC boosted its stake in Novartis by 46.4% during the 2nd quarter. Scharf Investments LLC now owns 1,278,557 shares of the company’s stock valued at $116,745,000 after purchasing an additional 405,449 shares during the period. 10.67% of the stock is currently owned by institutional investors and hedge funds.

NYSE:NVS opened at $91.43 on Tuesday. The firm’s 50-day moving average is $88.79 and its 200-day moving average is $88.90. The company has a market cap of $211.53 billion, a price-to-earnings ratio of 17.85, a PEG ratio of 2.03 and a beta of 0.60. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.73 and a current ratio of 0.95. Novartis AG has a 52-week low of $72.19 and a 52-week high of $95.00.

Novartis (NYSE:NVS) last released its earnings results on Tuesday, October 22nd. The company reported $1.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.10. Novartis had a net margin of 24.43% and a return on equity of 20.86%. The business had revenue of $12.17 billion during the quarter, compared to analysts’ expectations of $11.67 billion. During the same quarter last year, the company earned $1.32 earnings per share. The firm’s revenue was up 10.5% on a year-over-year basis. Equities analysts predict that Novartis AG will post 5.22 EPS for the current year.

Several brokerages have commented on NVS. Jefferies Financial Group reaffirmed a “buy” rating on shares of Novartis in a research report on Thursday, August 29th. Cowen reiterated a “buy” rating and set a $100.00 price target on shares of Novartis in a report on Friday, October 25th. Finally, ValuEngine raised Novartis from a “sell” rating to a “hold” rating in a research report on Saturday, October 19th. Four analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $95.28.

Novartis Profile

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.

See Also: Dow Jones Industrial Average (DJIA)

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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