InTrack Investment Management Inc Has $329,000 Stock Position in Novartis AG (NYSE:NVS)

InTrack Investment Management Inc reduced its holdings in shares of Novartis AG (NYSE:NVS) by 8.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,400 shares of the company’s stock after selling 300 shares during the quarter. InTrack Investment Management Inc’s holdings in Novartis were worth $329,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Wellington Management Group LLP increased its stake in Novartis by 1.2% in the 4th quarter. Wellington Management Group LLP now owns 4,746,599 shares of the company’s stock valued at $479,264,000 after buying an additional 54,683 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Novartis by 2.4% in the fourth quarter. Fisher Asset Management LLC now owns 1,442,003 shares of the company’s stock valued at $145,599,000 after acquiring an additional 33,791 shares during the last quarter. Natixis Advisors L.P. raised its holdings in Novartis by 0.4% during the fourth quarter. Natixis Advisors L.P. now owns 931,127 shares of the company’s stock worth $94,014,000 after acquiring an additional 3,270 shares in the last quarter. Truist Financial Corp boosted its position in Novartis by 10.9% during the third quarter. Truist Financial Corp now owns 863,859 shares of the company’s stock valued at $87,993,000 after purchasing an additional 85,075 shares during the last quarter. Finally, Chevy Chase Trust Holdings LLC grew its stake in Novartis by 11.3% in the fourth quarter. Chevy Chase Trust Holdings LLC now owns 815,804 shares of the company’s stock valued at $82,372,000 after purchasing an additional 82,909 shares in the last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. BMO Capital Markets increased their price objective on Novartis from $114.00 to $116.00 and gave the company a “market perform” rating in a report on Wednesday, April 24th. Jefferies Financial Group lifted their price objective on shares of Novartis from $121.00 to $122.50 and gave the company a “buy” rating in a research report on Tuesday. The Goldman Sachs Group assumed coverage on shares of Novartis in a report on Thursday, May 30th. They issued a “buy” rating and a $120.00 target price on the stock. Finally, Barclays upgraded Novartis to a “strong sell” rating in a report on Monday, June 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $118.13.

Novartis Stock Performance

Shares of NYSE:NVS traded down $0.07 on Tuesday, hitting $106.47. The company had a trading volume of 1,211,006 shares, compared to its average volume of 1,470,144. The stock has a market cap of $217.62 billion, a price-to-earnings ratio of 14.37, a P/E/G ratio of 1.64 and a beta of 0.57. The stock has a 50 day moving average price of $102.45 and a 200 day moving average price of $101.28. Novartis AG has a 1-year low of $92.19 and a 1-year high of $108.78. The company has a current ratio of 0.90, a quick ratio of 0.71 and a debt-to-equity ratio of 0.43.

Novartis (NYSE:NVS) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.07. The business had revenue of $11.83 billion for the quarter, compared to analyst estimates of $11.50 billion. Novartis had a net margin of 31.33% and a return on equity of 32.15%. Analysts expect that Novartis AG will post 7.27 EPS 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.