Strategy Asset Managers LLC Buys New Stake in Novartis AG (NVS)

Strategy Asset Managers LLC bought a new position in shares of Novartis AG (NYSE:NVS) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 602 shares of the company’s stock, valued at approximately $58,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Tdam USA Inc. grew its stake in Novartis by 21.9% in the first quarter. Tdam USA Inc. now owns 4,176 shares of the company’s stock worth $401,000 after purchasing an additional 750 shares in the last quarter. DDD Partners LLC grew its stake in Novartis by 1.1% in the first quarter. DDD Partners LLC now owns 103,555 shares of the company’s stock worth $9,956,000 after purchasing an additional 1,146 shares in the last quarter. Semmax Financial Advisors Inc. grew its stake in Novartis by 70.1% in the first quarter. Semmax Financial Advisors Inc. now owns 2,563 shares of the company’s stock worth $246,000 after purchasing an additional 1,056 shares in the last quarter. Great Lakes Advisors LLC grew its stake in Novartis by 2.7% in the first quarter. Great Lakes Advisors LLC now owns 19,074 shares of the company’s stock worth $1,834,000 after purchasing an additional 499 shares in the last quarter. Finally, Greatmark Investment Partners Inc. grew its stake in Novartis by 3.4% in the first quarter. Greatmark Investment Partners Inc. now owns 18,637 shares of the company’s stock worth $1,792,000 after purchasing an additional 621 shares in the last quarter. 11.66% of the stock is currently owned by institutional investors and hedge funds.

NVS stock traded up $0.78 during midday trading on Wednesday, reaching $83.17. The company had a trading volume of 1,262,237 shares, compared to its average volume of 2,547,457. The company has a quick ratio of 0.83, a current ratio of 0.93 and a debt-to-equity ratio of 0.48. Novartis AG has a fifty-two week low of $63.60 and a fifty-two week high of $85.08. The company has a market cap of $191.27 billion, a P/E ratio of 16.34, a PEG ratio of 1.99 and a beta of 0.66.

Novartis (NYSE:NVS) last issued its earnings results on Wednesday, April 24th. The company reported $1.21 EPS for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.10. Novartis had a return on equity of 16.75% and a net margin of 24.55%. The company had revenue of $11.11 billion during the quarter, compared to the consensus estimate of $11.76 billion. During the same period in the previous year, the firm posted $1.28 earnings per share. Novartis’s quarterly revenue was up 1.7% compared to the same quarter last year. Analysts expect that Novartis AG will post 5 EPS for the current fiscal year.

NVS has been the subject of a number of research reports. JPMorgan Chase & Co. reiterated a “sell” rating on shares of Novartis in a research note on Tuesday, January 29th. Morgan Stanley downgraded Novartis from an “equal weight” rating to an “underweight” rating and lifted their price target for the stock from $82.50 to $82.52 in a research note on Wednesday, April 10th. Zacks Investment Research downgraded Novartis from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 11th. Guggenheim upgraded Novartis from a “neutral” rating to a “buy” rating and set a $79.16 price target for the company in a research note on Wednesday, April 24th. Finally, Liberum Capital upgraded Novartis from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. Five research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $87.57.

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Novartis Company Profile

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.

Further Reading: Economic Reports

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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