Entropy Technologies LP Buys Shares of 9,938 Novartis AG (NYSE:NVS)

Entropy Technologies LP purchased a new position in shares of Novartis AG (NYSE:NVS) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 9,938 shares of the company’s stock, valued at approximately $967,000.

Several other hedge funds also recently modified their holdings of the business. Carnegie Investment Counsel boosted its holdings in Novartis by 7.5% in the 3rd quarter. Carnegie Investment Counsel now owns 11,869 shares of the company’s stock valued at $1,365,000 after purchasing an additional 832 shares during the period. CHICAGO TRUST Co NA raised its position in shares of Novartis by 9.2% during the third quarter. CHICAGO TRUST Co NA now owns 4,304 shares of the company’s stock valued at $495,000 after buying an additional 361 shares during the last quarter. Redhawk Wealth Advisors Inc. lifted its stake in shares of Novartis by 12.7% in the third quarter. Redhawk Wealth Advisors Inc. now owns 11,099 shares of the company’s stock valued at $1,277,000 after buying an additional 1,247 shares during the period. Procyon Advisors LLC grew its position in Novartis by 4.1% during the third quarter. Procyon Advisors LLC now owns 20,873 shares of the company’s stock worth $2,401,000 after buying an additional 823 shares in the last quarter. Finally, Boston Mountain Money Management Inc. grew its position in Novartis by 13.1% during the third quarter. Boston Mountain Money Management Inc. now owns 2,198 shares of the company’s stock worth $253,000 after buying an additional 254 shares in the last quarter. 13.12% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NVS. StockNews.com upgraded Novartis from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Erste Group Bank reaffirmed a “hold” rating on shares of Novartis in a research report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft raised shares of Novartis from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. BMO Capital Markets raised their price objective 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 cut shares of Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Novartis presently has a consensus rating of “Hold” and a consensus price target of $123.38.

Novartis Stock Up 0.5 %

Shares of NYSE:NVS opened at $106.81 on Tuesday. The company’s fifty day moving average is $100.32 and its 200-day moving average is $108.39. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.90 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 company has a market capitalization of $218.31 billion, a PE ratio of 18.16, a P/E/G ratio of 1.70 and a beta of 0.58.

Novartis (NYSE:NVS) last released its quarterly earnings results on Friday, January 31st. The company reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.80 by $0.18. Novartis had a net margin of 23.56% and a return on equity of 37.24%. Equities research analysts predict that Novartis AG will post 8.42 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.