Grey Fox Wealth Advisors LLC Acquires New Shares in Novartis AG (NYSE:NVS)

Grey Fox Wealth Advisors LLC acquired a new stake in Novartis AG (NYSE:NVS) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,818 shares of the company’s stock, valued at approximately $209,000.

Several other large investors also recently modified their holdings of NVS. Dimensional Fund Advisors LP increased its holdings in shares of Novartis by 23.1% in the second quarter. Dimensional Fund Advisors LP now owns 7,407,692 shares of the company’s stock worth $788,626,000 after acquiring an additional 1,389,610 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Novartis by 191.1% during the second quarter. Bank of New York Mellon Corp now owns 1,904,664 shares of the company’s stock worth $202,771,000 after buying an additional 1,250,318 shares during the period. Magnetar Financial LLC boosted its position in Novartis by 53.7% during the first quarter. Magnetar Financial LLC now owns 1,906,046 shares of the company’s stock valued at $184,372,000 after purchasing an additional 666,104 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in Novartis during the second quarter valued at approximately $64,610,000. Finally, Mondrian Investment Partners LTD boosted its position in Novartis by 40.1% during the first quarter. Mondrian Investment Partners LTD now owns 2,065,739 shares of the company’s stock valued at $199,819,000 after purchasing an additional 590,830 shares during the last quarter. 13.12% of the stock is currently owned by institutional investors.

Novartis Trading Down 0.2 %

Shares of NVS opened at $114.06 on Thursday. Novartis AG has a 52-week low of $92.19 and a 52-week high of $120.92. The business’s fifty day moving average is $116.44 and its 200-day moving average is $108.39. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.72 and a current ratio of 0.93. The firm has a market cap of $233.14 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 1.70 and a beta of 0.57.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NVS. Bank of America cut Novartis from a “buy” rating to a “neutral” rating and cut their price objective for the company from $135.00 to $130.00 in a research report on Wednesday, September 11th. Jefferies Financial Group lowered Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. The Goldman Sachs Group reiterated a “neutral” rating and set a $121.00 target price (up previously from $119.00) on shares of Novartis in a research note on Thursday, September 5th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Novartis in a research note on Friday, July 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $120.70.

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.