Flywheel Private Wealth LLC Purchases New Shares in Novartis AG (NYSE:NVS)

Flywheel Private Wealth LLC purchased a new position in Novartis AG (NYSE:NVS) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,797 shares of the company’s stock, valued at approximately $272,000.

Other large investors also recently added to or reduced their stakes in the company. Steigerwald Gordon & Koch Inc. grew its position in shares of Novartis by 4.8% in the third quarter. Steigerwald Gordon & Koch Inc. now owns 2,091 shares of the company’s stock valued at $241,000 after purchasing an additional 95 shares during the period. Centaurus Financial Inc. lifted its stake in Novartis by 1.7% in the 3rd quarter. Centaurus Financial Inc. now owns 5,728 shares of the company’s stock valued at $659,000 after buying an additional 98 shares in the last quarter. FLC Capital Advisors boosted its holdings in Novartis by 4.4% in the 3rd quarter. FLC Capital Advisors now owns 2,366 shares of the company’s stock worth $272,000 after buying an additional 100 shares during the last quarter. Clear Harbor Asset Management LLC increased its stake in Novartis by 2.3% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 4,423 shares of the company’s stock worth $509,000 after buying an additional 100 shares in the last quarter. Finally, Allen Wealth Management LLC raised its holdings in shares of Novartis by 1.8% during the third quarter. Allen Wealth Management LLC now owns 5,788 shares of the company’s stock valued at $666,000 after acquiring an additional 100 shares during the last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Stock Down 0.3 %

Shares of NYSE:NVS opened at $99.05 on Thursday. Novartis AG has a 52-week low of $92.35 and a 52-week high of $120.92. The stock has a market cap of $202.46 billion, a P/E ratio of 11.50, a PEG ratio of 1.36 and a beta of 0.57. The business has a fifty day moving average of $101.13 and a two-hundred day moving average of $109.19. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 0.55.

Novartis (NYSE:NVS) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.12. Novartis had a net margin of 35.96% and a return on equity of 34.80%. The firm had revenue of $12.82 billion for the quarter, compared to analysts’ expectations of $12.62 billion. During the same quarter in the previous year, the company posted $1.74 EPS. On average, research analysts expect that Novartis AG will post 7.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NVS has been the topic of a number of research analyst reports. Erste Group Bank reaffirmed a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. BMO Capital Markets upped their target price on shares of Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Finally, HSBC downgraded shares of Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. Two equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $121.50.

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.