Novartis AG (NYSE:NVS) Shares Purchased by Strategic Investment Advisors MI

Strategic Investment Advisors MI grew its position in shares of Novartis AG (NYSE:NVS) by 3.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 4,679 shares of the company’s stock after purchasing an additional 148 shares during the quarter. Strategic Investment Advisors MI’s holdings in Novartis were worth $455,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new stake in Novartis in the third quarter worth about $28,000. Fortitude Family Office LLC grew its stake in shares of 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 stake in shares of Novartis in the 3rd quarter worth approximately $43,000. Brooklyn Investment Group acquired a new stake in Novartis during the fourth quarter valued at approximately $55,000. Finally, Versant Capital Management Inc boosted its holdings in Novartis by 782.0% during the fourth quarter. Versant Capital Management Inc now owns 785 shares of the company’s stock worth $76,000 after buying an additional 696 shares in the last quarter. Institutional investors own 13.12% of the company’s stock.

Wall Street Analyst Weigh In

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

Novartis Stock Performance

Shares of Novartis stock opened at $103.37 on Tuesday. The stock has a market cap of $211.30 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 1.42 and a beta of 0.57. Novartis AG has a 12 month low of $92.35 and a 12 month high of $120.92. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 0.55. The business has a fifty day simple moving average of $100.09 and a 200-day simple moving average of $108.69.

Novartis (NYSE:NVS) last released its earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.12. The company had revenue of $12.82 billion for the quarter, compared to analysts’ expectations of $12.62 billion. Novartis had a return on equity of 34.80% and a net margin of 35.96%. During the same quarter in the previous year, the business posted $1.74 EPS. On average, sell-side analysts anticipate that Novartis AG will post 7.62 EPS 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.