MML Investors Services LLC Boosts Position in Novartis AG (NYSE:NVS)

MML Investors Services LLC boosted its stake in Novartis AG (NYSE:NVS - Free Report) by 9.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 129,201 shares of the company's stock after purchasing an additional 10,763 shares during the period. MML Investors Services LLC's holdings in Novartis were worth $14,861,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. New Millennium Group LLC bought a new stake in Novartis during the second quarter valued at approximately $28,000. Legacy Investment Solutions LLC purchased a new stake in shares of Novartis in the 3rd quarter worth $28,000. Industrial Alliance Investment Management Inc. bought a new position in Novartis in the 2nd quarter worth $30,000. Richardson Financial Services Inc. purchased a new position in Novartis during the second quarter valued at $30,000. Finally, Strategic Financial Concepts LLC bought a new stake in Novartis during the second quarter valued at about $35,000. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Novartis Stock Down 1.5 %

NYSE:NVS traded down $1.54 during mid-day trading on Tuesday, reaching $100.14. The company's stock had a trading volume of 998,589 shares, compared to its average volume of 1,330,004. Novartis AG has a 1 year low of $92.35 and a 1 year high of $120.92. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $204.69 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 1.47 and a beta of 0.56. The stock has a fifty day moving average of $109.15 and a 200-day moving average of $110.30.

Novartis (NYSE:NVS - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $2.06 earnings per share for the quarter, topping analysts' consensus estimates 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 prior year, the business posted $1.74 EPS. Equities research analysts forecast that Novartis AG will post 7.66 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have commented on NVS. BMO Capital Markets raised their target price on shares of Novartis from $118.00 to $120.00 and gave the stock a "market perform" rating in a research note on Wednesday, October 30th. Bank of America downgraded shares of Novartis from a "buy" rating to a "neutral" rating and decreased their price target for the company from $135.00 to $130.00 in a research note on Wednesday, September 11th. HSBC cut shares of Novartis from a "hold" rating to a "reduce" rating in a research note on Wednesday, December 4th. The Goldman Sachs Group reissued a "neutral" rating and set a $121.00 target price (up previously from $119.00) on shares of Novartis in a research report on Thursday, September 5th. Finally, Jefferies Financial Group downgraded shares of Novartis from a "buy" rating to a "hold" rating in a research note on Tuesday, September 3rd. Two analysts have rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat.com, Novartis presently 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.