Cloverfields Capital Group LP Purchases 5,119 Shares of Novartis AG $NVS

Cloverfields Capital Group LP boosted its position in Novartis AG (NYSE:NVS) by 27.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,731 shares of the company’s stock after acquiring an additional 5,119 shares during the period. Cloverfields Capital Group LP’s holdings in Novartis were worth $3,272,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Raymond James Financial Inc. boosted its holdings in Novartis by 77.7% during the third quarter. Raymond James Financial Inc. now owns 1,648,174 shares of the company’s stock worth $211,362,000 after buying an additional 720,860 shares during the last quarter. CIBC Bancorp USA Inc. bought a new stake in Novartis in the 3rd quarter valued at $64,563,000. Bank of Montreal Can boosted its position in shares of Novartis by 85.0% during the third quarter. Bank of Montreal Can now owns 1,045,191 shares of the company’s stock worth $134,035,000 after buying an additional 480,201 shares during the period. Franklin Resources Inc. boosted its position in Novartis by 10.3% during the 4th quarter. Franklin Resources Inc. now owns 4,479,307 shares of the company’s stock worth $617,562,000 after acquiring an additional 419,988 shares during the last quarter. Finally, Cibc World Market Inc. boosted its position in Novartis by 242.0% during the 4th quarter. Cibc World Market Inc. now owns 528,563 shares of the company’s stock worth $72,873,000 after acquiring an additional 374,016 shares during the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Argus raised Novartis from a “hold” rating to a “buy” rating and set a $180.00 price target for the company in a research report on Wednesday, March 11th. Weiss Ratings cut shares of Novartis from a “buy (a-)” rating to a “buy (b)” rating in a research report on Wednesday, April 29th. Sanford C. Bernstein upgraded Novartis to a “hold” rating in a report on Thursday, March 19th. Morgan Stanley upped their price objective on Novartis from $143.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, March 26th. Finally, TD Cowen reaffirmed a “hold” rating on shares of Novartis in a report on Tuesday, February 17th. Seven investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $141.20.

Novartis Stock Down 0.6%

NVS stock opened at $153.03 on Friday. The firm has a 50-day moving average price of $149.47 and a 200-day moving average price of $148.06. Novartis AG has a 12 month low of $112.34 and a 12 month high of $170.46. The company has a current ratio of 0.85, a quick ratio of 0.65 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $292.00 billion, a P/E ratio of 21.92, a price-to-earnings-growth ratio of 2.71 and a beta of 0.46.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Monday, April 27th. The company reported $1.99 earnings per share for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.12). Novartis had a net margin of 24.87% and a return on equity of 38.82%. The company had revenue of $13.52 billion during the quarter, compared to analyst estimates of $13.44 billion. During the same quarter in the previous year, the business posted $2.28 earnings per share. The company’s revenue for the quarter was down .9% on a year-over-year basis. As a group, equities research analysts anticipate that Novartis AG will post 8.83 EPS for the current fiscal year.

Novartis Company Profile

Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.

The company’s activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.