Novartis AG (NYSE:NVS) Shares Acquired by Sound Income Strategies LLC

Sound Income Strategies LLC lifted its holdings in shares of Novartis AG (NYSE:NVS) by 7,220.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,196 shares of the company’s stock after acquiring an additional 2,166 shares during the quarter. Sound Income Strategies LLC’s holdings in Novartis were worth $214,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Legacy Investment Solutions LLC acquired a new position in Novartis in the 3rd quarter worth $28,000. Fortitude Family Office LLC lifted its holdings in Novartis by 503.8% in the 3rd quarter. Fortitude Family Office LLC now owns 320 shares of the company’s stock worth $37,000 after buying an additional 267 shares in the last quarter. Clean Yield Group acquired a new position in Novartis in the 3rd quarter worth $43,000. Brooklyn Investment Group acquired a new position in Novartis in the 4th quarter worth $55,000. Finally, Versant Capital Management Inc lifted its holdings in Novartis by 782.0% in the 4th quarter. Versant Capital Management Inc now owns 785 shares of the company’s stock worth $76,000 after buying an additional 696 shares in the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Price Performance

Shares of NYSE:NVS opened at $99.93 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 0.55. Novartis AG has a fifty-two week low of $92.35 and a fifty-two week high of $120.92. The firm has a 50-day simple moving average of $100.15 and a 200 day simple moving average of $108.75. The company has a market cap of $204.25 billion, a PE ratio of 11.61, a P/E/G ratio of 1.42 and a beta of 0.57.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.12. Novartis had a net margin of 35.96% and a return on equity of 34.80%. The business had revenue of $12.82 billion during the quarter, compared to the consensus estimate of $12.62 billion. During the same quarter in the prior year, the firm earned $1.74 EPS. On average, sell-side analysts anticipate that Novartis AG will post 7.62 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Erste Group Bank reiterated a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. BMO Capital Markets upped their target price on shares of Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Finally, HSBC lowered shares of Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $123.38.

Novartis 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.