Strategic Financial Concepts LLC Buys New Position in Novartis AG (NYSE:NVS)

Strategic Financial Concepts LLC purchased a new position in shares of Novartis AG (NYSE:NVS) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 26,622 shares of the company’s stock, valued at approximately $2,591,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in Novartis by 128.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 528,682 shares of the company’s stock worth $51,554,000 after buying an additional 296,890 shares during the last quarter. World Investment Advisors LLC purchased a new position in shares of Novartis during the 3rd quarter worth about $30,063,000. Fisher Asset Management LLC boosted its position in shares of Novartis by 15.7% in the third quarter. Fisher Asset Management LLC now owns 1,706,009 shares of the company’s stock worth $196,225,000 after acquiring an additional 231,851 shares during the last quarter. Mediolanum International Funds Ltd purchased a new stake in Novartis in the third quarter valued at approximately $24,096,000. Finally, ABC Arbitrage SA acquired a new position in Novartis during the fourth quarter worth approximately $19,795,000. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Novartis Stock Down 2.1 %

Shares of NYSE:NVS opened at $105.43 on Tuesday. The company has a 50 day moving average of $100.70 and a two-hundred day moving average of $108.25. Novartis AG has a 52-week low of $92.35 and a 52-week high of $120.92. The company has a quick ratio of 0.90, a current ratio of 1.04 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $215.50 billion, a price-to-earnings ratio of 17.93, a price-to-earnings-growth ratio of 1.70 and a beta of 0.58.

Novartis (NYSE:NVS) last released its quarterly earnings results on Friday, January 31st. The company reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.18. Novartis had a net margin of 23.56% and a return on equity of 37.24%. As a group, analysts forecast that Novartis AG will post 8.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Morgan Stanley initiated coverage on shares of Novartis in a research note on Wednesday, February 12th. They set an “underweight” rating for the company. UBS Group reiterated a “neutral” rating on shares of Novartis in a report on Thursday, February 13th. StockNews.com upgraded Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 8th. BMO Capital Markets lifted their price objective on Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Novartis from a “hold” rating to a “buy” rating in a research report on Tuesday, February 4th. Three 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $123.38.

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.