Cromwell Holdings LLC Purchases 705 Shares of Novartis AG (NYSE:NVS)

Cromwell Holdings LLC boosted its position in Novartis AG (NYSE:NVS) by 21.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,918 shares of the company’s stock after buying an additional 705 shares during the quarter. Cromwell Holdings LLC’s holdings in Novartis were worth $381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in NVS. Legacy Investment Solutions LLC purchased a new stake in Novartis in the 3rd quarter worth about $28,000. Human Investing LLC bought a new position in Novartis during the fourth quarter worth about $25,000. Union Bancaire Privee UBP SA purchased a new position in shares of Novartis in the fourth quarter worth about $27,000. Fortitude Family Office LLC raised its position in shares of Novartis by 503.8% in the third quarter. Fortitude Family Office LLC now owns 320 shares of the company’s stock valued at $37,000 after purchasing an additional 267 shares during the period. Finally, Kestra Investment Management LLC bought a new stake in shares of Novartis in the fourth quarter valued at approximately $47,000. 13.12% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. UBS Group reiterated a “neutral” rating on shares of Novartis in a research note on Thursday, February 13th. Erste Group Bank reiterated a “hold” rating on shares of Novartis in a research report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft upgraded Novartis from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. Morgan Stanley assumed coverage on Novartis in a research note on Wednesday, February 12th. They issued an “underweight” rating for the company. Finally, HSBC cut Novartis from a “hold” rating to a “reduce” rating in a research report on Wednesday, December 4th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Novartis currently has an average rating of “Hold” and a consensus price target of $123.38.

Novartis Price Performance

Shares of NYSE NVS opened at $107.26 on Friday. The stock’s 50-day simple moving average is $101.06 and its two-hundred day simple moving average is $108.15. Novartis AG has a twelve month low of $92.35 and a twelve month high of $120.92. The firm has a market capitalization of $219.23 billion, a P/E ratio of 18.24, a P/E/G ratio of 1.70 and a beta of 0.58. 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 (NYSE:NVS) last posted its quarterly earnings data on Friday, January 31st. The company reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.18. Novartis had a net margin of 23.56% and a return on equity of 37.24%. As a group, equities analysts anticipate that Novartis AG will post 8.45 EPS for the current fiscal year.

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.