Novartis AG (NYSE:NVS) Position Trimmed by Wealthspire Advisors LLC

Wealthspire Advisors LLC decreased its position in shares of Novartis AG (NYSE:NVS) by 13.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,810 shares of the company’s stock after selling 440 shares during the quarter. Wealthspire Advisors LLC’s holdings in Novartis were worth $273,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of NVS. Mirae Asset Global Investments Co. Ltd. lifted its stake in Novartis by 128.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 528,682 shares of the company’s stock valued at $51,554,000 after buying an additional 296,890 shares in the last quarter. World Investment Advisors LLC acquired a new position in Novartis during the third quarter valued at approximately $30,063,000. Fisher Asset Management LLC grew its stake in shares of Novartis by 15.7% in the third quarter. Fisher Asset Management LLC now owns 1,706,009 shares of the company’s stock worth $196,225,000 after acquiring an additional 231,851 shares during the last quarter. ABC Arbitrage SA acquired a new stake in shares of Novartis in the fourth quarter worth $19,795,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Novartis in the third quarter worth $21,078,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Price Performance

Shares of NVS opened at $108.91 on Friday. Novartis AG has a 52-week low of $92.35 and a 52-week high of $120.92. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.84 and a current ratio of 1.04. The business’s 50 day moving average price is $102.36 and its two-hundred day moving average price is $108.08. The firm has a market cap of $222.62 billion, a PE ratio of 18.52, a price-to-earnings-growth ratio of 1.70 and a beta of 0.58.

Novartis (NYSE:NVS) last released its quarterly earnings data on Friday, January 31st. The company reported $1.98 EPS for the quarter, beating 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%. On average, equities analysts anticipate that Novartis AG will post 8.45 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft raised Novartis from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Morgan Stanley initiated coverage on shares of Novartis in a research report on Wednesday, February 12th. They set an “underweight” rating on the stock. HSBC downgraded shares of Novartis from a “hold” rating to a “reduce” rating in a research report on Wednesday, December 4th. Barclays reiterated an “underweight” rating on shares of Novartis in a research report on Monday, February 3rd. Finally, StockNews.com upgraded shares of Novartis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 8th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $123.38.

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.