Mission Wealth Management LP Purchases 215 Shares of Novartis AG (NYSE:NVS)

Mission Wealth Management LP increased its position in shares of Novartis AG (NYSE:NVS) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,570 shares of the company’s stock after buying an additional 215 shares during the quarter. Mission Wealth Management LP’s holdings in Novartis were worth $1,126,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Fisher Asset Management LLC increased its stake in Novartis by 17.4% in the 4th quarter. Fisher Asset Management LLC now owns 2,002,959 shares of the company’s stock valued at $194,908,000 after buying an additional 296,950 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Novartis by 128.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 528,682 shares of the company’s stock valued at $51,554,000 after acquiring an additional 296,890 shares in the last quarter. World Investment Advisors LLC acquired a new stake in shares of Novartis in the third quarter valued at about $30,063,000. Proficio Capital Partners LLC bought a new stake in Novartis during the fourth quarter worth about $225,000. Finally, ABC Arbitrage SA acquired a new position in Novartis during the fourth quarter valued at approximately $19,795,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. HSBC cut Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. StockNews.com raised Novartis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 8th. Erste Group Bank restated a “hold” rating on shares of Novartis in a research report on Tuesday, November 19th. Barclays reissued an “underweight” rating on shares of Novartis in a report on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft raised shares of Novartis from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Novartis has an average rating of “Hold” and an average price target of $123.38.

Novartis Trading Up 0.8 %

NVS opened at $111.53 on Wednesday. Novartis AG has a twelve month low of $92.35 and a twelve month high of $120.92. The company has a fifty day moving average of $103.11 and a 200-day moving average of $107.96. The stock has a market cap of $227.97 billion, a PE ratio of 18.97, a price-to-earnings-growth ratio of 1.70 and a beta of 0.53. 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 announced its quarterly earnings data on Friday, January 31st. The company reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.80 by $0.18. Novartis had a return on equity of 37.24% and a net margin of 23.56%. On average, sell-side analysts predict that Novartis AG will post 8.45 EPS for the current 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.