Novartis AG (NYSE:NVS) Holdings Lifted by Sound Income Strategies LLC

Sound Income Strategies LLC grew its position in Novartis AG (NYSE:NVS) by 7,220.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,196 shares of the company’s stock after purchasing an additional 2,166 shares during the period. Sound Income Strategies LLC’s holdings in Novartis were worth $214,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of NVS. Legacy Investment Solutions LLC bought a new position in Novartis in the 3rd quarter worth about $28,000. Fortitude Family Office LLC grew its position in Novartis by 503.8% in the 3rd quarter. Fortitude Family Office LLC now owns 320 shares of the company’s stock worth $37,000 after purchasing an additional 267 shares during the last quarter. Clean Yield Group bought a new position in Novartis in the 3rd quarter worth about $43,000. Brooklyn Investment Group acquired a new stake in shares of Novartis in the 4th quarter worth approximately $55,000. Finally, Versant Capital Management Inc lifted its stake in shares of Novartis by 782.0% in the 4th quarter. Versant Capital Management Inc now owns 785 shares of the company’s stock worth $76,000 after acquiring an additional 696 shares during the period. Institutional investors own 13.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. BMO Capital Markets upped their price target on shares of Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Erste Group Bank reaffirmed a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. Finally, HSBC lowered shares of Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $123.38.

Novartis Stock Down 0.1 %

NVS stock opened at $99.93 on Friday. Novartis AG has a 12 month low of $92.35 and a 12 month high of $120.92. The firm has a market cap of $204.25 billion, a PE ratio of 11.61, a P/E/G ratio of 1.42 and a beta of 0.57. The firm has a 50 day simple moving average of $100.15 and a 200 day simple moving average of $108.75. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.11 and a quick ratio of 0.90.

Novartis (NYSE:NVS) last released its earnings results on Tuesday, October 29th. The company reported $2.06 EPS for the quarter, beating the consensus estimate of $1.94 by $0.12. Novartis had a net margin of 35.96% and a return on equity of 34.80%. The business had revenue of $12.82 billion during the quarter, compared to analyst estimates of $12.62 billion. During the same period in the prior year, the business earned $1.74 earnings per share. Equities research analysts forecast that Novartis AG will post 7.62 earnings per share for the current fiscal year.

Novartis 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.