Novartis AG (NYSE:NVS) Shares Sold by Court Place Advisors LLC

Court Place Advisors LLC lessened its stake in shares of Novartis AG (NYSE:NVS) by 13.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,020 shares of the company’s stock after selling 1,550 shares during the period. Court Place Advisors LLC’s holdings in Novartis were worth $975,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of NVS. Legacy Investment Solutions LLC acquired a new stake in shares of Novartis during the third quarter worth $28,000. Union Bancaire Privee UBP SA purchased a new stake in Novartis during the 4th quarter valued at about $27,000. Fortitude Family Office LLC increased its holdings 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. Clean Yield Group purchased a new position in shares of Novartis in the third quarter worth about $43,000. Finally, Brooklyn Investment Group acquired a new stake in shares of Novartis during the fourth quarter worth about $55,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Stock Up 3.4 %

NVS stock opened at $103.37 on Tuesday. Novartis AG has a one year low of $92.35 and a one year high of $120.92. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.90 and a current ratio of 1.11. The firm’s fifty day moving average is $100.09 and its 200 day moving average is $108.69. The firm has a market cap of $211.30 billion, a PE ratio of 12.01, a P/E/G ratio of 1.42 and a beta of 0.57.

Novartis (NYSE:NVS) last posted its earnings results on Tuesday, October 29th. The company reported $2.06 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.12. The firm had revenue of $12.82 billion for the quarter, compared to analysts’ expectations of $12.62 billion. Novartis had a return on equity of 34.80% and a net margin of 35.96%. During the same period last year, the firm earned $1.74 EPS. On average, research analysts forecast that Novartis AG will post 7.62 EPS for the current year.

Wall Street Analysts Forecast Growth

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

About Novartis

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.