Arrowpoint Investment Partners Singapore Pte. Ltd. Takes $855,000 Position in Novartis AG $NVS

Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new position in shares of Novartis AG (NYSE:NVS) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 6,200 shares of the company’s stock, valued at approximately $855,000.

Several other hedge funds have also added to or reduced their stakes in NVS. Raymond James Financial Inc. lifted its stake in shares of Novartis by 77.7% in the 3rd quarter. Raymond James Financial Inc. now owns 1,648,174 shares of the company’s stock valued at $211,362,000 after purchasing an additional 720,860 shares during the period. CIBC Bancorp USA Inc. acquired a new stake in shares of Novartis during the third quarter worth $64,563,000. Bank of Montreal Can increased its holdings in Novartis by 85.0% in the third quarter. Bank of Montreal Can now owns 1,045,191 shares of the company’s stock valued at $134,035,000 after purchasing an additional 480,201 shares during the last quarter. Cibc World Market Inc. increased its holdings in Novartis by 242.0% in the fourth quarter. Cibc World Market Inc. now owns 528,563 shares of the company’s stock valued at $72,873,000 after purchasing an additional 374,016 shares during the last quarter. Finally, Tidal Investments LLC lifted its stake in Novartis by 3,309.5% in the third quarter. Tidal Investments LLC now owns 301,436 shares of the company’s stock valued at $38,656,000 after buying an additional 292,595 shares during the period. Institutional investors own 13.12% of the company’s stock.

Novartis Stock Performance

Shares of NVS opened at $148.39 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.65 and a current ratio of 0.85. Novartis AG has a twelve month low of $112.34 and a twelve month high of $170.46. The firm’s 50 day moving average price is $149.60 and its two-hundred day moving average price is $147.26. The firm has a market cap of $283.14 billion, a P/E ratio of 21.26, a PEG ratio of 2.52 and a beta of 0.46.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Monday, April 27th. The company reported $1.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.12). Novartis had a return on equity of 38.82% and a net margin of 24.87%.The company had revenue of $13.52 billion for the quarter, compared to the consensus estimate of $13.44 billion. During the same period in the prior year, the company earned $2.28 EPS. The firm’s revenue was down .9% on a year-over-year basis. On average, analysts forecast that Novartis AG will post 8.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NVS shares. Argus upgraded Novartis from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a research report on Wednesday, March 11th. Wall Street Zen lowered shares of Novartis from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Weiss Ratings cut shares of Novartis from a “buy (a-)” rating to a “buy (b)” rating in a report on Wednesday, April 29th. Morgan Stanley increased their target price on shares of Novartis from $143.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, March 26th. Finally, Citigroup reissued a “buy” rating on shares of Novartis in a report on Thursday, February 5th. Seven research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $141.20.

Novartis Company Profile

Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.

The company’s activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.