Lindbrook Capital LLC Sells 113 Shares of Novartis AG (NYSE:NVS)

Lindbrook Capital LLC reduced its holdings in shares of Novartis AG (NYSE:NVS) by 2.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,816 shares of the company’s stock after selling 113 shares during the quarter. Lindbrook Capital LLC’s holdings in Novartis were worth $371,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in shares of Novartis during the 4th quarter worth $88,339,000. Aigen Investment Management LP bought a new stake in Novartis in the fourth quarter worth about $233,000. Proficio Capital Partners LLC bought a new stake in Novartis in the fourth quarter worth about $225,000. Assetmark Inc. boosted its stake in Novartis by 18.6% in the fourth quarter. Assetmark Inc. now owns 265,682 shares of the company’s stock valued at $25,854,000 after acquiring an additional 41,686 shares during the last quarter. Finally, Victory Capital Management Inc. bought a new position in shares of Novartis during the 4th quarter valued at approximately $9,365,000. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Stock Performance

NYSE:NVS opened at $113.00 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.84 and a current ratio of 1.04. Novartis AG has a 52-week low of $92.35 and a 52-week high of $120.92. The firm has a market cap of $230.97 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 1.70 and a beta of 0.53. The business’s fifty day moving average is $103.67 and its 200 day moving average is $108.02.

Novartis (NYSE:NVS) last announced its quarterly earnings results on Friday, January 31st. The company reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.18. Novartis had a return on equity of 37.24% and a net margin of 23.56%. Research analysts predict that Novartis AG will post 8.45 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NVS. StockNews.com raised shares of Novartis from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 8th. Deutsche Bank Aktiengesellschaft upgraded Novartis from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. UBS Group reiterated a “neutral” rating on shares of Novartis in a research note on Thursday, February 13th. HSBC cut Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. Finally, Morgan Stanley started coverage on shares of Novartis in a research report on Wednesday, February 12th. They set an “underweight” rating for the company. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $123.38.

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.