Glenmede Trust Co. NA Increases Stock Position in Novartis AG $NVS

Glenmede Trust Co. NA raised its stake in shares of Novartis AG (NYSE:NVS) by 16.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 63,066 shares of the company’s stock after purchasing an additional 8,680 shares during the period. Glenmede Trust Co. NA’s holdings in Novartis were worth $9,633,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in NVS. Arlington Trust Co LLC bought a new stake in shares of Novartis in the fourth quarter worth about $25,000. Archer Investment Corp boosted its stake in Novartis by 93.0% during the first quarter. Archer Investment Corp now owns 166 shares of the company’s stock valued at $25,000 after buying an additional 80 shares during the last quarter. CrossGen Wealth LLC bought a new position in Novartis during the fourth quarter valued at approximately $28,000. Bank of Jackson Hole Trust grew its holdings in Novartis by 425.0% during the 4th quarter. Bank of Jackson Hole Trust now owns 231 shares of the company’s stock valued at $32,000 after buying an additional 187 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC purchased a new position in Novartis during the 3rd quarter valued at approximately $33,000. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on NVS shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Novartis in a report on Friday, July 24th. Citigroup reiterated a “buy” rating on shares of Novartis in a research report on Wednesday, July 22nd. Seven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $141.20.

Novartis Stock Performance

Novartis stock opened at $153.71 on Tuesday. The company’s 50-day moving average price is $152.69 and its 200-day moving average price is $152.88. The company has a quick ratio of 0.67, a current ratio of 0.86 and a debt-to-equity ratio of 0.89. The company has a market cap of $293.31 billion, a PE ratio of 23.18, a price-to-earnings-growth ratio of 2.67 and a beta of 0.45. Novartis AG has a twelve month low of $113.48 and a twelve month high of $170.46.

Novartis (NYSE:NVS) last announced its quarterly earnings results on Tuesday, June 30th. The company reported $2.41 EPS for the quarter. The firm had revenue of $14.95 billion during the quarter. Novartis had a net margin of 23.29% and a return on equity of 38.56%. On average, equities research analysts forecast that Novartis AG will post 8.85 EPS for the current fiscal year.

Novartis Company 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.