Leo Wealth LLC Makes New $1.39 Million Investment in Novartis AG $NVS

Leo Wealth LLC bought a new position in shares of Novartis AG (NYSE:NVS) during the 3rd quarter, Holdings Channel.com reports. The firm bought 9,718 shares of the company’s stock, valued at approximately $1,386,000.

Several other hedge funds have also recently bought and sold shares of NVS. Apollon Wealth Management LLC raised its holdings in Novartis by 30.2% during the third quarter. Apollon Wealth Management LLC now owns 13,072 shares of the company’s stock valued at $1,864,000 after buying an additional 3,035 shares in the last quarter. Brucke Financial Inc. lifted its position in shares of Novartis by 25.2% in the third quarter. Brucke Financial Inc. now owns 3,755 shares of the company’s stock worth $535,000 after buying an additional 756 shares during the last quarter. Norris Perne & French LLP MI bought a new stake in shares of Novartis during the 3rd quarter worth about $374,000. Ascent Wealth Partners LLC boosted its stake in shares of Novartis by 1.5% during the 3rd quarter. Ascent Wealth Partners LLC now owns 16,714 shares of the company’s stock worth $2,383,000 after acquiring an additional 241 shares in the last quarter. Finally, Evergreen Capital Management LLC boosted its stake in shares of Novartis by 2.1% during the 3rd quarter. Evergreen Capital Management LLC now owns 46,856 shares of the company’s stock worth $6,680,000 after acquiring an additional 948 shares in the last quarter. 13.12% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on NVS. Weiss Ratings reissued a “buy (b)” rating on shares of Novartis in a research note on Thursday. Morgan Stanley reaffirmed an “overweight” rating and set a $156.00 target price on shares of Novartis in a research report on Tuesday, October 6th. Berenberg Bank lowered their price target on Novartis from $147.00 to $130.00 and set a “hold” rating on the stock in a report on Friday, September 11th. Jefferies Financial Group reissued a “neutral” rating on shares of Novartis in a research report on Thursday, July 23rd. Finally, UBS Group reissued a “neutral” rating on shares of Novartis in a research report on Thursday, September 17th. Six research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $145.60.

Novartis Price Performance

NYSE:NVS opened at $153.93 on Tuesday. The stock has a market cap of $293.72 billion, a P/E ratio of 23.22, a PEG ratio of 2.74 and a beta of 0.41. Novartis AG has a one year low of $121.57 and a one year high of $170.46. The company has a fifty day moving average price of $148.13 and a 200 day moving average price of $151.40. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.86 and a quick ratio of 0.67.

About Novartis

Novartis AG is a Switzerland-based pharmaceutical company focused on the discovery, development and commercialization of innovative medicines. The company’s research and commercial activities span areas including cardiovascular, renal and metabolic diseases, immunology, neuroscience, oncology and hematology. Its portfolio includes prescription medicines such as Entresto, Cosentyx, Kisqali, Kesimpta, Leqvio, Pluvicto and Scemblix.

Novartis serves patients and healthcare providers in markets around the world.