Ieq Capital LLC Decreases Holdings in Novartis AG (NYSE:NVS)

Ieq Capital LLC decreased its holdings in Novartis AG (NYSE:NVS) by 10.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,873 shares of the company’s stock after selling 1,375 shares during the period. Ieq Capital LLC’s holdings in Novartis were worth $1,155,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NVS. Allspring Global Investments Holdings LLC increased its position in shares of Novartis by 425.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 42,831 shares of the company’s stock valued at $4,926,000 after purchasing an additional 34,685 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Novartis during the third quarter worth $19,878,000. GHP Investment Advisors Inc. increased its position in Novartis by 9.9% during the third quarter. GHP Investment Advisors Inc. now owns 1,650 shares of the company’s stock valued at $190,000 after acquiring an additional 149 shares during the last quarter. Modera Wealth Management LLC raised its stake in shares of Novartis by 2.8% in the third quarter. Modera Wealth Management LLC now owns 5,435 shares of the company’s stock valued at $625,000 after acquiring an additional 150 shares during the period. Finally, Clear Harbor Asset Management LLC lifted its holdings in shares of Novartis by 2.3% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 4,423 shares of the company’s stock worth $509,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Barclays reiterated an “underweight” rating on shares of Novartis in a report on Monday, February 3rd. BMO Capital Markets increased their price target on Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. HSBC cut Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft upgraded Novartis from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. Finally, UBS Group reiterated a “neutral” rating on shares of Novartis in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Novartis currently has an average rating of “Hold” and an average target price of $123.38.

Novartis Trading Down 0.2 %

NYSE:NVS opened at $109.15 on Tuesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.84 and a current ratio of 1.04. The firm has a 50-day simple moving average of $101.69 and a 200-day simple moving average of $108.09. Novartis AG has a one year low of $92.35 and a one year high of $120.92. The firm has a market cap of $223.10 billion, a P/E ratio of 18.56, a P/E/G ratio of 1.70 and a beta of 0.58.

Novartis (NYSE:NVS) last posted its earnings results on Friday, January 31st. The company reported $1.98 earnings per share for the quarter, topping 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%. Equities analysts anticipate that Novartis AG will post 8.45 EPS for the current fiscal year.

Novartis 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.