Frank Rimerman Advisors LLC Purchases 2,910 Shares of Novartis AG $NVS

Frank Rimerman Advisors LLC boosted its position in shares of Novartis AG (NYSE:NVS) by 107.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 5,621 shares of the company’s stock after purchasing an additional 2,910 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Novartis were worth $680,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. GFG Capital LLC purchased a new stake in shares of Novartis during the second quarter valued at approximately $26,000. WPG Advisers LLC purchased a new position in Novartis in the 1st quarter worth approximately $25,000. Legacy Investment Solutions LLC bought a new position in Novartis in the 2nd quarter valued at approximately $30,000. Barrett & Company Inc. purchased a new stake in Novartis during the 2nd quarter valued at $31,000. Finally, MCF Advisors LLC increased its holdings in shares of Novartis by 66.0% in the 2nd quarter. MCF Advisors LLC now owns 264 shares of the company’s stock worth $32,000 after purchasing an additional 105 shares in the last quarter. 13.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on NVS shares. Cfra set a $126.00 price target on Novartis and gave the company a “hold” rating in a report on Wednesday, October 29th. The Goldman Sachs Group reissued a “sell” rating and issued a $118.00 target price (down previously from $119.00) on shares of Novartis in a research report on Friday, September 12th. Cfra Research raised shares of Novartis to a “hold” rating in a report on Wednesday, October 29th. Cowen reiterated a “hold” rating on shares of Novartis in a research note on Monday, November 10th. Finally, Morgan Stanley upgraded shares of Novartis from an “equal weight” rating to an “overweight” rating in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $122.33.

Novartis Trading Down 0.6%

Novartis stock opened at $127.31 on Thursday. Novartis AG has a 12-month low of $96.06 and a 12-month high of $134.00. The firm has a market capitalization of $268.92 billion, a price-to-earnings ratio of 17.39, a P/E/G ratio of 1.93 and a beta of 0.60. The firm has a 50 day moving average of $127.63 and a 200 day moving average of $121.71. The company has a current ratio of 0.88, a quick ratio of 0.62 and a debt-to-equity ratio of 0.50.

Novartis (NYSE:NVS) last issued its earnings results on Tuesday, October 28th. The company reported $2.25 earnings per share for the quarter, missing the consensus estimate of $2.26 by ($0.01). The firm had revenue of $13.91 billion during the quarter, compared to the consensus estimate of $13.70 billion. Novartis had a return on equity of 41.21% and a net margin of 26.49%.The company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.06 EPS. As a group, research analysts predict that Novartis AG will post 8.45 earnings per share for the current year.

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.