Novartis AG (NYSE:NVS) Shares Sold by Optas LLC

Optas LLC cut its holdings in shares of Novartis AG (NYSE:NVS) by 7.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,542 shares of the company’s stock after selling 265 shares during the period. Optas LLC’s holdings in Novartis were worth $345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new position in shares of Novartis in the 3rd quarter valued at about $28,000. Union Bancaire Privee UBP SA purchased a new position in Novartis during the fourth quarter valued at approximately $27,000. Fortitude Family Office LLC lifted its holdings in 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 acquiring an additional 267 shares during the period. Clean Yield Group purchased a new stake in Novartis in the 3rd quarter worth approximately $43,000. Finally, Brooklyn Investment Group acquired a new stake in shares of Novartis during the 4th quarter worth approximately $55,000. 13.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NVS has been the subject of several analyst reports. BMO Capital Markets boosted 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. Erste Group Bank reiterated a “hold” rating on shares of Novartis in a research report on Tuesday, November 19th. HSBC cut Novartis from a “hold” rating to a “reduce” rating in a research report on Wednesday, December 4th. StockNews.com cut Novartis from a “strong-buy” rating to a “buy” rating in a report on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft raised Novartis from a “hold” rating to a “buy” rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, Novartis presently has an average rating of “Hold” and an average price target of $123.38.

Novartis Price Performance

NYSE:NVS opened at $105.51 on Wednesday. The firm has a market cap of $215.65 billion, a P/E ratio of 17.94, a price-to-earnings-growth ratio of 1.51 and a beta of 0.58. The stock has a 50 day moving average of $100.14 and a two-hundred day moving average of $108.41. Novartis AG has a 12 month low of $92.35 and a 12 month high of $120.92. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 0.55.

Novartis (NYSE:NVS) last posted its quarterly earnings data on Friday, January 31st. The company reported $1.98 EPS for the quarter, beating the consensus estimate of $1.80 by $0.18. Novartis had a return on equity of 37.79% and a net margin of 23.56%. On average, analysts expect that Novartis AG will post 8.34 earnings per share for the current fiscal 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.