XTX Topco Ltd Grows Position in Novartis AG $NVS

XTX Topco Ltd raised its stake in Novartis AG (NYSE:NVS) by 303.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,213 shares of the company’s stock after acquiring an additional 6,932 shares during the quarter. XTX Topco Ltd’s holdings in Novartis were worth $1,115,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. WPG Advisers LLC acquired a new position in Novartis in the 1st quarter valued at about $25,000. GFG Capital LLC purchased a new stake in shares of Novartis during the second quarter worth about $26,000. Legacy Investment Solutions LLC acquired a new position in shares of Novartis in the second quarter valued at approximately $30,000. Barrett & Company Inc. purchased a new position in shares of Novartis during the second quarter valued at approximately $31,000. Finally, MCF Advisors LLC lifted its stake in shares of Novartis by 66.0% during the second quarter. MCF Advisors LLC now owns 264 shares of the company’s stock valued at $32,000 after buying an additional 105 shares during the period. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Price Performance

Shares of Novartis stock opened at $130.23 on Friday. The business’s fifty day moving average price is $128.31 and its 200 day moving average price is $122.62. Novartis AG has a twelve month low of $96.06 and a twelve month high of $134.00. The company has a current ratio of 0.88, a quick ratio of 0.62 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $275.09 billion, a P/E ratio of 17.79, a PEG ratio of 1.93 and a beta of 0.60.

Novartis (NYSE:NVS) last released its quarterly earnings data on Tuesday, October 28th. The company reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.01). The firm had revenue of $14.36 billion during the quarter, compared to analysts’ expectations of $13.70 billion. Novartis had a return on equity of 41.21% and a net margin of 26.49%.The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter last year, the business earned $2.06 earnings per share. As a group, research analysts anticipate that Novartis AG will post 8.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Cfra set a $126.00 target price on shares of Novartis and gave the stock a “hold” rating in a research note on Wednesday, October 29th. Wall Street Zen raised Novartis from a “hold” rating to a “buy” rating in a research report on Friday. HC Wainwright downgraded Novartis to a “neutral” rating in a research report on Monday, October 27th. The Goldman Sachs Group reissued a “sell” rating and issued a $118.00 price target (down from $119.00) on shares of Novartis in a research note on Friday, September 12th. Finally, Cfra Research raised shares of Novartis to a “hold” rating in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Novartis currently has an average rating of “Hold” and an average price target of $122.33.

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.