Opal Wealth Advisors LLC Buys 112 Shares of Novartis AG (NYSE:NVS)

Opal Wealth Advisors LLC lifted its stake in Novartis AG (NYSE:NVS) by 4.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,515 shares of the company’s stock after purchasing an additional 112 shares during the period. Opal Wealth Advisors LLC’s holdings in Novartis were worth $280,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in NVS. Continuum Advisory LLC raised its stake in Novartis by 10.3% during the 4th quarter. Continuum Advisory LLC now owns 1,021 shares of the company’s stock worth $99,000 after buying an additional 95 shares during the period. Bryn Mawr Capital Management LLC raised its stake in Novartis by 0.8% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 12,884 shares of the company’s stock worth $1,254,000 after buying an additional 100 shares during the period. Rothschild Investment LLC raised its stake in Novartis by 0.6% during the 4th quarter. Rothschild Investment LLC now owns 16,682 shares of the company’s stock worth $1,623,000 after buying an additional 101 shares during the period. Intergy Private Wealth LLC raised its stake in Novartis by 3.9% during the 1st quarter. Intergy Private Wealth LLC now owns 2,757 shares of the company’s stock worth $307,000 after buying an additional 104 shares during the period. Finally, Meridian Wealth Management LLC raised its stake in shares of Novartis by 2.6% in the 4th quarter. Meridian Wealth Management LLC now owns 4,161 shares of the company’s stock valued at $405,000 after purchasing an additional 106 shares during the period. 13.12% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, BNP Paribas raised Novartis to a “strong-buy” rating in a research note on Tuesday, April 15th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $123.38.

Novartis Stock Down 1.2%

NYSE NVS opened at $119.34 on Friday. Novartis AG has a 1-year low of $96.06 and a 1-year high of $120.92. The company has a market cap of $252.10 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 1.70 and a beta of 0.59. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.48. The company has a 50 day moving average of $111.84 and a 200-day moving average of $107.09.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.12 by $0.16. Novartis had a net margin of 23.56% and a return on equity of 37.24%. The business had revenue of $13.23 billion during the quarter, compared to the consensus estimate of $12.92 billion. During the same period in the previous year, the business earned $1.80 earnings per share. The company’s revenue was up 11.9% on a year-over-year basis. On average, equities research analysts expect that Novartis AG will post 8.45 earnings per share for the current fiscal 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.