Sonora Investment Management LLC Grows Stock Position in Novartis AG (NYSE:NVS)

Sonora Investment Management LLC raised its holdings in Novartis AG (NYSE:NVS) by 15.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,133 shares of the company’s stock after buying an additional 149 shares during the quarter. Sonora Investment Management LLC’s holdings in Novartis were worth $97,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Phoenix Wealth Advisors purchased a new stake in Novartis in the 4th quarter valued at about $27,000. Regent Peak Wealth Advisors LLC acquired a new position in shares of Novartis in the 4th quarter valued at about $34,000. Addison Advisors LLC acquired a new position in shares of Novartis in the 4th quarter valued at about $40,000. Veriti Management LLC acquired a new position in shares of Novartis in the 4th quarter valued at about $42,000. Finally, Hoese & Co LLP acquired a new position in shares of Novartis in the 4th quarter valued at about $42,000. Institutional investors own 9.86% of the company’s stock.

Several equities analysts recently commented on NVS shares. Deutsche Bank Aktiengesellschaft started coverage on Novartis in a research report on Friday, January 15th. They set a “buy” rating on the stock. Argus reaffirmed a “hold” rating on shares of Novartis in a research report on Tuesday, March 16th. Cowen lowered Novartis from an “outperform” rating to a “market perform” rating and cut their target price for the company from $110.00 to $105.00 in a research report on Monday, February 1st. Morgan Stanley reiterated an “overweight” rating on shares of Novartis in a report on Tuesday, February 2nd. Finally, Sanford C. Bernstein started coverage on Novartis in a report on Monday, March 22nd. They issued a “market perform” rating for the company. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $108.50.

Shares of Novartis stock traded down $0.68 during trading on Tuesday, hitting $85.71. The stock had a trading volume of 5,723 shares, compared to its average volume of 1,991,498. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.91 and a quick ratio of 0.69. The firm has a market cap of $196.16 billion, a P/E ratio of 27.96, a PEG ratio of 1.76 and a beta of 0.59. The business has a fifty day moving average of $86.78 and a two-hundred day moving average of $88.54. Novartis AG has a fifty-two week low of $77.04 and a fifty-two week high of $98.52.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Monday, April 26th. The company reported $1.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.54 by ($0.02). The firm had revenue of $12.41 billion during the quarter, compared to analyst estimates of $12.63 billion. Novartis had a net margin of 14.71% and a return on equity of 24.39%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.56 EPS. As a group, research analysts forecast that Novartis AG will post 5.8 earnings per share for the current year.

Novartis Company Profile

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company operates through two segments, Innovative Medicines and Sandoz. The Innovative Medicines segment offers prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, established, and cardiovascular, renal and metabolism medicine products.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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