SeaCrest Wealth Management LLC Invests $221,000 in Novartis AG (NYSE:NVS)

SeaCrest Wealth Management LLC bought a new position in Novartis AG (NYSE:NVS) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,271 shares of the company’s stock, valued at approximately $221,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Integral Health Asset Management LLC boosted its position in Novartis by 33.3% during the second quarter. Integral Health Asset Management LLC now owns 300,000 shares of the company’s stock valued at $31,938,000 after purchasing an additional 75,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Novartis by 115.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 231,792 shares of the company’s stock valued at $26,797,000 after purchasing an additional 124,111 shares during the last quarter. Bank of Montreal Can boosted its position in Novartis by 343.5% during the second quarter. Bank of Montreal Can now owns 657,903 shares of the company’s stock valued at $70,652,000 after purchasing an additional 509,567 shares during the last quarter. CWA Asset Management Group LLC boosted its position in Novartis by 20.1% during the fourth quarter. CWA Asset Management Group LLC now owns 30,840 shares of the company’s stock valued at $3,001,000 after purchasing an additional 5,164 shares during the last quarter. Finally, Quantbot Technologies LP boosted its position in Novartis by 135.5% during the third quarter. Quantbot Technologies LP now owns 39,976 shares of the company’s stock valued at $4,598,000 after purchasing an additional 22,998 shares during the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Price Performance

NYSE NVS opened at $97.51 on Friday. Novartis AG has a fifty-two week low of $92.35 and a fifty-two week high of $120.92. The stock’s 50-day moving average is $100.61 and its two-hundred day moving average is $108.99. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.11 and a quick ratio of 0.90. The firm has a market cap of $199.30 billion, a P/E ratio of 11.32, a price-to-earnings-growth ratio of 1.36 and a beta of 0.57.

Novartis (NYSE:NVS) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. The business had revenue of $12.82 billion for the quarter, compared to analyst estimates of $12.62 billion. Novartis had a return on equity of 34.80% and a net margin of 35.96%. During the same period in the previous year, the company posted $1.74 earnings per share. On average, analysts anticipate that Novartis AG will post 7.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NVS. BMO Capital Markets lifted their price objective on Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. HSBC lowered Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday, December 4th. Finally, Erste Group Bank restated a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. Two analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $121.50.

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.