Intergy Private Wealth LLC Buys 276 Shares of Novartis AG (NYSE:NVS)

Intergy Private Wealth LLC grew its stake in shares of Novartis AG (NYSE:NVS) by 12.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,499 shares of the company’s stock after buying an additional 276 shares during the quarter. Intergy Private Wealth LLC’s holdings in Novartis were worth $287,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Private Ocean LLC bought a new position in shares of Novartis during the first quarter valued at about $25,000. Clearstead Trust LLC grew its stake in shares of Novartis by 73.5% in the first quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock worth $26,000 after purchasing an additional 114 shares during the last quarter. New Millennium Group LLC bought a new stake in shares of Novartis in the second quarter worth about $28,000. Lynx Investment Advisory bought a new stake in shares of Novartis in the second quarter worth about $29,000. Finally, Industrial Alliance Investment Management Inc. bought a new stake in shares of Novartis in the second quarter worth about $30,000. 13.12% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on NVS shares. Bank of America cut Novartis from a “buy” rating to a “neutral” rating and cut their target price for the stock from $135.00 to $130.00 in a research note on Wednesday, September 11th. Jefferies Financial Group cut Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Novartis in a research note on Friday, July 19th. Barclays raised Novartis to a “strong sell” rating in a research report on Monday, June 24th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $121.00 price objective (up from $119.00) on shares of Novartis in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $120.70.

Novartis Stock Up 0.1 %

Novartis stock traded up $0.17 during trading hours on Friday, hitting $116.68. 129,790 shares of the stock traded hands, compared to its average volume of 1,342,015. The firm’s 50-day moving average price is $116.20 and its two-hundred day moving average price is $107.75. The company has a current ratio of 0.93, a quick ratio of 0.72 and a debt-to-equity ratio of 0.47. The company has a market cap of $238.49 billion, a PE ratio of 14.78, a PEG ratio of 1.73 and a beta of 0.57. Novartis AG has a one year low of $92.19 and a one year high of $120.92.

Novartis (NYSE:NVS) last released its earnings results on Thursday, July 18th. The company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.10. Novartis had a net margin of 33.76% and a return on equity of 34.56%. The firm had revenue of $12.87 billion during the quarter, compared to analyst estimates of $12.24 billion. During the same period last year, the business earned $1.83 earnings per share. On average, research analysts forecast that Novartis AG will post 7.52 EPS for the current year.

About Novartis

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.