Mesirow Financial Investment Management Inc. Boosts Stock Position in Novartis AG (NYSE:NVS)

Mesirow Financial Investment Management Inc. increased its position in Novartis AG (NYSE:NVS) by 2.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,573 shares of the company’s stock after acquiring an additional 119 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Novartis were worth $526,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clearstead Trust LLC increased its stake in shares of Novartis by 73.5% in the first quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock worth $26,000 after purchasing an additional 114 shares in the last quarter. New Millennium Group LLC bought a new position in Novartis in the 2nd quarter worth $28,000. Lynx Investment Advisory purchased a new stake in Novartis in the 2nd quarter worth $29,000. Industrial Alliance Investment Management Inc. purchased a new position in shares of Novartis in the second quarter valued at about $30,000. Finally, Richardson Financial Services Inc. purchased a new position in shares of Novartis in the second quarter valued at about $30,000. Institutional investors own 13.12% of the company’s stock.

Novartis Trading Down 0.7 %

NYSE:NVS opened at $105.68 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 0.55. The firm has a fifty day simple moving average of $114.56 and a 200-day simple moving average of $109.78. The company has a market capitalization of $216.01 billion, a P/E ratio of 12.27, a PEG ratio of 1.55 and a beta of 0.58. Novartis AG has a 12 month low of $92.35 and a 12 month high of $120.92.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $2.06 EPS for the quarter, beating the consensus estimate of $1.94 by $0.12. The company had revenue of $12.82 billion for the quarter, compared to analyst estimates of $12.62 billion. Novartis had a net margin of 35.96% and a return on equity of 34.80%. During the same period in the prior year, the company earned $1.74 earnings per share. On average, equities research analysts anticipate that Novartis AG will post 7.56 earnings per share for the current year.

Wall Street Analyst Weigh In

NVS has been the topic of several recent analyst reports. Jefferies Financial Group downgraded Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. BMO Capital Markets upped their price objective on Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Bank of America downgraded shares of Novartis from a “buy” rating to a “neutral” rating and cut their price target for the company from $135.00 to $130.00 in a report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Novartis in a research report on Friday, July 19th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $121.00 target price (up from $119.00) on shares of Novartis in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $121.50.

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.