Range Financial Group LLC acquired a new position in shares of Novartis AG (NYSE:NVS – Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,117 shares of the company’s stock, valued at approximately $303,000.
Several other large investors have also added to or reduced their stakes in NVS. CWA Asset Management Group LLC boosted its position in shares of Novartis by 20.1% in the fourth quarter. CWA Asset Management Group LLC now owns 30,840 shares of the company’s stock valued at $3,001,000 after acquiring an additional 5,164 shares during the period. Versant Capital Management Inc lifted its stake in 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 purchasing an additional 696 shares in the last quarter. DGS Capital Management LLC boosted its holdings in Novartis by 5.2% in the 3rd quarter. DGS Capital Management LLC now owns 10,683 shares of the company’s stock valued at $1,229,000 after purchasing an additional 532 shares during the period. Logan Capital Management Inc. grew its position in shares of Novartis by 4.3% during the 3rd quarter. Logan Capital Management Inc. now owns 40,836 shares of the company’s stock valued at $4,697,000 after purchasing an additional 1,702 shares in the last quarter. Finally, Beaird Harris Wealth Management LLC increased its holdings in shares of Novartis by 280.5% in the third quarter. Beaird Harris Wealth Management LLC now owns 704 shares of the company’s stock worth $81,000 after purchasing an additional 519 shares during the period. Institutional investors own 13.12% of the company’s stock.
Wall Street Analysts Forecast Growth
NVS has been the subject of several research analyst reports. HSBC lowered Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. Erste Group Bank reissued a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. BMO Capital Markets upped their price objective on shares of Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Finally, Bank of America lowered shares of Novartis from a “buy” rating to a “neutral” rating and dropped their target price for the company from $135.00 to $130.00 in a research report on Wednesday, September 11th. Two analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat.com, Novartis presently has an average rating of “Hold” and an average price target of $121.50.
Novartis Stock Up 1.4 %
Shares of NVS opened at $99.02 on Wednesday. The firm has a market cap of $202.40 billion, a P/E ratio of 11.50, a P/E/G ratio of 1.49 and a beta of 0.57. Novartis AG has a 1 year low of $92.35 and a 1 year high of $120.92. The stock has a 50 day simple moving average of $102.12 and a two-hundred day simple moving average of $109.44. 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 – Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.12. The company had revenue of $12.82 billion during the quarter, compared to analysts’ expectations of $12.62 billion. Novartis had a net margin of 35.96% and a return on equity of 34.80%. During the same quarter in the prior year, the company earned $1.74 EPS. On average, analysts forecast that Novartis AG will post 7.65 earnings per share for the current fiscal year.
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.
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