Signaturefd LLC Boosts Stock Position in Novartis AG (NYSE:NVS)

Signaturefd LLC boosted its holdings in Novartis AG (NYSE:NVS) by 2.4% during the 3rd quarter, Holdings Channel reports. The firm owned 15,588 shares of the company’s stock after acquiring an additional 360 shares during the period. Signaturefd LLC’s holdings in Novartis were worth $1,355,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of NVS. Asset Dedication LLC boosted its position in Novartis by 98.7% in the second quarter. Asset Dedication LLC now owns 304 shares of the company’s stock worth $27,000 after purchasing an additional 151 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its position in Novartis by 795.8% in the second quarter. Moneta Group Investment Advisors LLC now owns 2,750 shares of the company’s stock worth $27,000 after purchasing an additional 2,443 shares during the last quarter. Vigilant Capital Management LLC purchased a new position in Novartis in the second quarter worth $37,000. Anderson Fisher LLC purchased a new position in Novartis in the second quarter worth $39,000. Finally, Manchester Financial Inc. purchased a new position in Novartis in the second quarter worth $45,000. 11.18% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE NVS traded up $0.30 during trading on Wednesday, reaching $87.00. 141,953 shares of the stock traded hands, compared to its average volume of 1,745,441. Novartis AG has a 52-week low of $72.19 and a 52-week high of $95.00. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.74. The company has a 50-day moving average of $87.47 and a 200-day moving average of $87.75. The stock has a market capitalization of $198.70 billion, a P/E ratio of 17.08, a price-to-earnings-growth ratio of 1.95 and a beta of 0.59.

Novartis (NYSE:NVS) last issued its quarterly earnings results on Thursday, July 18th. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.14. Novartis had a return on equity of 18.55% and a net margin of 23.27%. The firm had revenue of $11.76 billion for the quarter, compared to analysts’ expectations of $11.45 billion. During the same quarter in the prior year, the firm earned $1.29 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. Analysts expect that Novartis AG will post 5.15 earnings per share for the current fiscal year.

Several research analysts have weighed in on NVS shares. Kepler Capital Markets cut Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. ValuEngine cut Novartis from a “hold” rating to a “sell” rating in a research report on Thursday, September 12th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Novartis in a research report on Thursday, August 29th. Zacks Investment Research cut Novartis from a “buy” rating to a “hold” rating and set a $100.00 price target on the stock. in a research report on Friday, July 19th. Finally, JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of Novartis in a research report on Friday, July 5th. Five research analysts have rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $93.29.

Novartis Company Profile

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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