624 Shares in Novartis AG (NYSE:NVS) Acquired by Sierra Ocean LLC

Sierra Ocean LLC purchased a new position in shares of Novartis AG (NYSE:NVS) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 624 shares of the company’s stock, valued at approximately $61,000.

Several other hedge funds have also added to or reduced their stakes in the company. Keystone Financial Services raised its holdings in Novartis by 3.3% in the 4th quarter. Keystone Financial Services now owns 7,374 shares of the company’s stock valued at $718,000 after acquiring an additional 237 shares in the last quarter. Valmark Advisers Inc. grew its position in Novartis by 5.3% during the 4th quarter. Valmark Advisers Inc. now owns 8,806 shares of the company’s stock worth $857,000 after acquiring an additional 447 shares during the last quarter. Csenge Advisory Group grew its position in Novartis by 63.5% during the 4th quarter. Csenge Advisory Group now owns 16,395 shares of the company’s stock worth $1,595,000 after acquiring an additional 6,369 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in Novartis during the 4th quarter worth $2,591,000. Finally, Allworth Financial LP grew its position in Novartis by 2,354.3% during the 4th quarter. Allworth Financial LP now owns 95,768 shares of the company’s stock worth $9,402,000 after acquiring an additional 91,866 shares during the last quarter. 13.12% of the stock is owned by institutional investors and hedge funds.

Novartis Price Performance

Shares of NYSE NVS opened at $105.43 on Tuesday. The stock has a fifty day simple moving average of $100.70 and a two-hundred day simple moving average of $108.25. Novartis AG has a 1-year low of $92.35 and a 1-year high of $120.92. The firm has a market cap of $215.50 billion, a price-to-earnings ratio of 17.93, a price-to-earnings-growth ratio of 1.70 and a beta of 0.58. The company has a current ratio of 1.04, a quick ratio of 0.90 and a debt-to-equity ratio of 0.48.

Novartis (NYSE:NVS) last posted its earnings results on Friday, January 31st. The company reported $1.98 earnings per share (EPS) for the quarter, topping 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%. Analysts anticipate that Novartis AG will post 8.42 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on NVS shares. Erste Group Bank reiterated a “hold” rating on shares of Novartis in a research report on Tuesday, November 19th. UBS Group reaffirmed a “neutral” rating on shares of Novartis in a research note on Thursday, February 13th. Morgan Stanley started coverage on Novartis in a research note on Wednesday, February 12th. They set an “underweight” rating on the stock. BMO Capital Markets boosted their price objective on Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft raised Novartis from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $123.38.

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.