Geneos Wealth Management Inc. Boosts Stake in Novartis AG (NYSE:NVS)

Geneos Wealth Management Inc. grew its stake in shares of Novartis AG (NYSE:NVSFree Report) by 3.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,156 shares of the company’s stock after buying an additional 1,058 shares during the period. Geneos Wealth Management Inc.’s holdings in Novartis were worth $2,934,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on NVS shares. HSBC downgraded Novartis from a “hold” rating to a “reduce” rating in a research report on Wednesday, December 4th. BMO Capital Markets upped their price objective on shares of Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Finally, Erste Group Bank reissued a “hold” rating on shares of Novartis in a research report on Tuesday, November 19th. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $123.38.

Read Our Latest Stock Report on Novartis

Novartis Stock Down 0.1 %

Shares of Novartis stock opened at $99.93 on Friday. The company has a fifty day moving average price of $100.09 and a 200 day moving average price of $108.69. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 0.55. Novartis AG has a twelve month low of $92.35 and a twelve month high of $120.92. The stock 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.

Novartis (NYSE:NVSGet Free Report) last issued its earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.12. The company had revenue of $12.82 billion during the quarter, compared to the consensus estimate 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 prior year, the business earned $1.74 earnings per share. Equities research analysts forecast that Novartis AG will post 7.62 earnings per share for the current fiscal year.

Novartis Profile

(Free Report)

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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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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