CX Institutional Sells 140 Shares of Novartis AG (NYSE:NVS)

CX Institutional cut its position in shares of Novartis AG (NYSE:NVS) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,539 shares of the company’s stock after selling 140 shares during the period. CX Institutional’s holdings in Novartis were worth $1,026,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Legacy Investment Solutions LLC bought a new stake in shares of Novartis in the third quarter valued at about $28,000. Fortitude Family Office LLC raised its holdings in shares of Novartis by 503.8% in the 3rd quarter. Fortitude Family Office LLC now owns 320 shares of the company’s stock valued at $37,000 after purchasing an additional 267 shares in the last quarter. Clean Yield Group bought a new stake in shares of Novartis in the 3rd quarter valued at about $43,000. Brooklyn Investment Group purchased a new stake in shares of Novartis in the 4th quarter worth approximately $55,000. Finally, Versant Capital Management Inc boosted its stake in shares of Novartis by 782.0% during the fourth quarter. Versant Capital Management Inc now owns 785 shares of the company’s stock valued at $76,000 after purchasing an additional 696 shares in the last quarter. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NVS has been the subject of a number of analyst reports. Erste Group Bank restated a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. HSBC cut Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. Finally, BMO Capital Markets lifted their target price on Novartis from $118.00 to $120.00 and gave the company 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, the company currently has a consensus rating of “Hold” and an average target price of $123.38.

Novartis Stock Down 0.1 %

Shares of NVS stock opened at $99.93 on Friday. The stock’s fifty day moving average price is $100.09 and its 200 day moving average price is $108.69. Novartis AG has a 1-year low of $92.35 and a 1-year high of $120.92. The company has a market cap of $204.25 billion, a price-to-earnings ratio of 11.61, a price-to-earnings-growth ratio of 1.42 and a beta of 0.57. 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 posted its quarterly earnings data on Tuesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.12. The firm had revenue of $12.82 billion for the quarter, compared to the consensus estimate 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 posted $1.74 earnings per share. On average, research analysts expect that Novartis AG will post 7.62 earnings per share for the current fiscal year.

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.