Smithbridge Asset Management Inc. DE Makes New Investment in Novartis AG (NYSE:NVS)

Smithbridge Asset Management Inc. DE bought a new position in shares of Novartis AG (NYSE:NVS) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 47,989 shares of the company’s stock, valued at approximately $5,350,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nexus Investment Management ULC bought a new position in Novartis during the 1st quarter worth about $25,000. Raiffeisen Bank International AG bought a new position in Novartis during the 4th quarter worth about $25,000. Human Investing LLC bought a new position in Novartis during the 4th quarter worth about $25,000. Union Bancaire Privee UBP SA bought a new position in Novartis during the 4th quarter worth about $27,000. Finally, Park Square Financial Group LLC bought a new position in Novartis during the 4th quarter worth about $30,000. 13.12% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NVS. BNP Paribas upgraded shares of Novartis to a “strong-buy” rating in a report on Tuesday, April 15th. UBS Group reaffirmed a “neutral” rating on shares of Novartis in a research report on Thursday, February 13th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Novartis currently has an average rating of “Hold” and an average price target of $123.38.

Novartis Stock Up 2.2%

NVS stock opened at $120.69 on Friday. The firm has a 50 day moving average of $111.49 and a 200 day moving average of $106.98. The stock has a market capitalization of $254.95 billion, a PE ratio of 20.53, a price-to-earnings-growth ratio of 1.70 and a beta of 0.59. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.48. Novartis AG has a 52 week low of $96.06 and a 52 week high of $120.92.

Novartis (NYSE:NVS) last released its earnings results on Tuesday, April 29th. The company reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.16. The company had revenue of $13.23 billion during the quarter, compared to analysts’ expectations of $12.92 billion. Novartis had a net margin of 23.56% and a return on equity of 37.24%. Novartis’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period last year, the business earned $1.80 EPS. Sell-side analysts forecast that Novartis AG will post 8.45 earnings per share for the current 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.