Brookstone Capital Management Has $1.56 Million Stock Position in Novartis AG (NYSE:NVS)

Brookstone Capital Management lifted its stake in Novartis AG (NYSE:NVSGet Rating) by 61.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,467 shares of the company’s stock after purchasing an additional 7,013 shares during the period. Brookstone Capital Management’s holdings in Novartis were worth $1,558,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of NVS. Mount Yale Investment Advisors LLC raised its position in shares of Novartis by 30.2% during the first quarter. Mount Yale Investment Advisors LLC now owns 15,538 shares of the company’s stock worth $1,363,000 after acquiring an additional 3,606 shares during the last quarter. Kensington Investment Counsel LLC boosted its holdings in Novartis by 5.0% during the first quarter. Kensington Investment Counsel LLC now owns 13,820 shares of the company’s stock worth $1,213,000 after buying an additional 656 shares during the last quarter. CIBC Asset Management Inc acquired a new position in shares of Novartis during the 1st quarter worth about $501,000. National Asset Management Inc. increased its stake in shares of Novartis by 3.5% in the 1st quarter. National Asset Management Inc. now owns 21,166 shares of the company’s stock valued at $1,859,000 after acquiring an additional 717 shares during the last quarter. Finally, Resources Investment Advisors LLC. raised its position in shares of Novartis by 3.2% in the 1st quarter. Resources Investment Advisors LLC. now owns 4,367 shares of the company’s stock valued at $383,000 after acquiring an additional 137 shares during the period. Institutional investors own 9.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NVS. Oppenheimer cut shares of Novartis from an “outperform” rating to a “market perform” rating in a report on Friday, June 3rd. Berenberg Bank cut Novartis from a “buy” rating to a “hold” rating in a research note on Wednesday, September 14th. Credit Suisse Group downgraded Novartis from a “neutral” rating to an “underperform” rating in a research note on Thursday, September 15th. Kepler Capital Markets upgraded Novartis from a “hold” rating to a “buy” rating and set a CHF 90 price objective on the stock in a research note on Wednesday, September 7th. Finally, Morgan Stanley cut their price target on Novartis from CHF 97 to CHF 88 in a report on Thursday, September 8th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $87.00.

Novartis Trading Down 1.4 %

Shares of NVS opened at $79.58 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.13 and a current ratio of 1.38. Novartis AG has a 52-week low of $79.09 and a 52-week high of $94.26. The firm has a market cap of $176.08 billion, a price-to-earnings ratio of 7.78, a PEG ratio of 2.28 and a beta of 0.53. The business’s fifty day moving average is $83.82 and its 200-day moving average is $85.85.

Novartis (NYSE:NVSGet Rating) last posted its quarterly earnings results on Tuesday, July 19th. The company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.05. The company had revenue of $12.78 billion for the quarter, compared to the consensus estimate of $12.78 billion. Novartis had a net margin of 44.31% and a return on equity of 21.88%. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period last year, the company posted $1.64 EPS. Equities analysts anticipate that Novartis AG will post 6.06 EPS for the current fiscal year.

About Novartis

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Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company operates through two segments, Innovative Medicines and Sandoz. The Innovative Medicines segment offers prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology, dermatology, respiratory, cardiovascular, renal, and metabolism medicine products.

Further Reading

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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