University of Texas Texas AM Investment Management Co. Purchases 48,644 Shares of Novartis AG $NVS

University of Texas Texas AM Investment Management Co. lifted its position in Novartis AG (NYSE:NVS) by 988.9% in the 3rd quarter, Holdings Channel reports. The fund owned 53,563 shares of the company’s stock after buying an additional 48,644 shares during the period. Novartis makes up approximately 1.0% of University of Texas Texas AM Investment Management Co.’s investment portfolio, making the stock its 23rd biggest holding. University of Texas Texas AM Investment Management Co.’s holdings in Novartis were worth $7,636,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SOA Wealth Advisors LLC. boosted its position in shares of Novartis by 4,316.2% in the second quarter. SOA Wealth Advisors LLC. now owns 14,750 shares of the company’s stock worth $2,312,000 after buying an additional 14,416 shares during the period. Mission Wealth Management LP grew its holdings in shares of Novartis by 85.7% during the second quarter. Mission Wealth Management LP now owns 19,690 shares of the company’s stock valued at $3,086,000 after buying an additional 9,086 shares in the last quarter. QRG Capital Management Inc. raised its position in Novartis by 9.0% during the second quarter. QRG Capital Management Inc. now owns 164,478 shares of the company’s stock valued at $25,777,000 after buying an additional 13,634 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Novartis by 40.4% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 195,986 shares of the company’s stock valued at $30,715,000 after buying an additional 56,424 shares during the period. Finally, Somerville Kurt F acquired a new position in Novartis during the second quarter valued at $1,636,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Trading Up 0.1%

Novartis stock opened at $162.73 on Monday. The company’s fifty day simple moving average is $148.83 and its 200-day simple moving average is $152.25. The company has a quick ratio of 0.70, a current ratio of 0.88 and a debt-to-equity ratio of 0.98. Novartis AG has a 12 month low of $123.24 and a 12 month high of $170.46. The stock has a market cap of $310.51 billion, a P/E ratio of 31.06, a P/E/G ratio of 2.99 and a beta of 0.40.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Tuesday, October 27th. The company reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.25 by $0.21. Novartis had a net margin of 18.11% and a return on equity of 41.04%. The business had revenue of $15.03 billion for the quarter, compared to the consensus estimate of $14.53 billion. During the same period in the prior year, the business posted $2.25 earnings per share. Novartis’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Novartis AG will post 9.04 EPS for the current fiscal year.

Analysts Set New Price Targets

NVS has been the subject of several research analyst reports. HSBC raised Novartis from a “reduce” rating to a “hold” rating and increased their price objective for the stock from $123.00 to $136.00 in a research note on Thursday, September 10th. Deutsche Bank Aktiengesellschaft cut Novartis from a “hold” rating to a “sell” rating in a research note on Friday, October 30th. Sanford C. Bernstein reissued a “neutral” rating on shares of Novartis in a research report on Wednesday, July 22nd. DZ Bank initiated coverage on shares of Novartis in a report on Wednesday, October 28th. They set a “hold” rating for the company. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Novartis in a report on Sunday, August 9th. Six analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $152.25.

About Novartis

Novartis AG is a Swiss pharmaceutical company focused on discovering, developing, manufacturing and commercializing innovative medicines. Its research and products address conditions in areas including oncology, immunology, neuroscience, and cardiovascular, renal and metabolic health.

The company’s medicines include treatments such as Kisqali for certain breast cancers, Cosentyx for inflammatory diseases, Entresto for heart failure and Kesimpta for multiple sclerosis. Its portfolio also includes radioligand therapies and other specialized treatments.

Novartis was formed in 1996 through the merger of Swiss companies Ciba-Geigy and Sandoz.