Milestone Asset Management LLC Takes $1.33 Million Position in Novartis AG (NYSE:NVS)

Milestone Asset Management LLC purchased a new stake in shares of Novartis AG (NYSE:NVS - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 13,701 shares of the company's stock, valued at approximately $1,333,000.

Other large investors have also recently bought and sold shares of the company. World Investment Advisors LLC bought a new position in shares of Novartis during the 3rd quarter valued at $30,063,000. Fisher Asset Management LLC increased its stake in Novartis by 15.7% during the third quarter. Fisher Asset Management LLC now owns 1,706,009 shares of the company's stock valued at $196,225,000 after acquiring an additional 231,851 shares during the period. Mediolanum International Funds Ltd acquired a new stake in Novartis during the third quarter worth $24,096,000. Public Employees Retirement System of Ohio acquired a new position in Novartis in the third quarter worth about $21,078,000. Finally, International Assets Investment Management LLC acquired a new stake in Novartis in the 3rd quarter valued at $19,878,000. 13.12% of the stock is owned by institutional investors and hedge funds.

Novartis Stock Performance

NVS stock traded up $1.28 during trading hours on Thursday, reaching $104.21. The stock had a trading volume of 1,600,264 shares, compared to its average volume of 1,726,935. The stock has a market capitalization of $213.00 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 1.42 and a beta of 0.57. The stock has a 50-day simple moving average of $100.07 and a 200 day simple moving average of $108.53. Novartis AG has a fifty-two week low of $92.35 and a fifty-two week high of $120.92. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.11 and a quick ratio of 0.90.

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

Analysts Set New Price Targets

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