Flagship Harbor Advisors LLC Has $374,000 Stock Position in Novartis AG (NYSE:NVS)

Flagship Harbor Advisors LLC boosted its holdings in Novartis AG (NYSE:NVS) by 7.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,842 shares of the company’s stock after acquiring an additional 262 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Novartis were worth $374,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Xponance Inc. acquired a new position in Novartis during the 2nd quarter worth approximately $233,000. AQR Capital Management LLC grew its stake in shares of Novartis by 257.7% during the second quarter. AQR Capital Management LLC now owns 9,702 shares of the company’s stock worth $1,033,000 after buying an additional 6,990 shares during the last quarter. Ascent Group LLC increased its holdings in shares of Novartis by 5.7% during the second quarter. Ascent Group LLC now owns 6,416 shares of the company’s stock worth $683,000 after buying an additional 345 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Novartis by 4.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 66,880 shares of the company’s stock valued at $7,120,000 after acquiring an additional 2,689 shares during the last quarter. Finally, Granite Bay Wealth Management LLC acquired a new stake in shares of Novartis during the 2nd quarter valued at $854,000. Institutional investors own 13.12% of the company’s stock.

Novartis Trading Down 1.5 %

NVS opened at $101.85 on Wednesday. Novartis AG has a twelve month low of $92.35 and a twelve month high of $120.92. The company has a fifty day moving average of $100.10 and a 200-day moving average of $108.64. The stock has a market cap of $208.19 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 1.42 and a beta of 0.57. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 0.55.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.12. Novartis had a return on equity of 34.80% and a net margin of 35.96%. The company had revenue of $12.82 billion for the quarter, compared to the consensus estimate of $12.62 billion. During the same period in the previous year, the business earned $1.74 EPS. On average, sell-side analysts predict that Novartis AG will post 7.62 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on NVS shares. Erste Group Bank reiterated a “hold” rating on shares of Novartis in a research report on Tuesday, November 19th. BMO Capital Markets lifted their target price on shares of Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Finally, HSBC downgraded shares of Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. Two research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $123.38.

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.