Naviter Wealth LLC Sells 9,837 Shares of Novartis AG (NYSE:NVS)

Naviter Wealth LLC trimmed its holdings in shares of Novartis AG (NYSE:NVS - Free Report) by 19.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,525 shares of the company's stock after selling 9,837 shares during the period. Naviter Wealth LLC's holdings in Novartis were worth $3,943,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NVS. HM Payson & Co. raised its position in Novartis by 28.4% in the fourth quarter. HM Payson & Co. now owns 4,062 shares of the company's stock worth $395,000 after acquiring an additional 899 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Novartis in the 4th quarter worth approximately $195,000. Mesirow Financial Investment Management Inc. lifted its stake in Novartis by 4.4% in the fourth quarter. Mesirow Financial Investment Management Inc. now owns 4,773 shares of the company's stock valued at $464,000 after purchasing an additional 200 shares during the last quarter. Haven Private LLC bought a new position in Novartis during the fourth quarter valued at $286,000. Finally, Bradyco Inc. bought a new position in shares of Novartis during the 4th quarter worth $700,000. 13.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Erste Group Bank restated a "hold" rating on shares of Novartis in a research report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft upgraded Novartis from a "hold" rating to a "buy" rating in a research report on Tuesday, February 4th. UBS Group restated a "neutral" rating on shares of Novartis in a research report on Thursday, February 13th. HSBC downgraded Novartis from a "hold" rating to a "reduce" rating in a report on Wednesday, December 4th. Finally, Morgan Stanley began coverage on shares of Novartis in a research report on Wednesday, February 12th. They set an "underweight" rating on the stock. Three analysts have rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $123.38.

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Novartis Stock Performance

NVS traded down $3.40 during midday trading on Tuesday, reaching $112.07. The company had a trading volume of 890,941 shares, compared to its average volume of 2,040,495. 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 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.48. The company has a market cap of $229.06 billion, a P/E ratio of 19.07, a P/E/G ratio of 1.70 and a beta of 0.53. The business has a 50-day moving average of $104.38 and a two-hundred day moving average of $107.87.

Novartis (NYSE:NVS - Get Free Report) last posted its quarterly earnings results on Friday, January 31st. The company reported $1.98 earnings per share for the quarter, topping analysts' consensus estimates 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, equities research analysts predict that Novartis AG will post 8.45 earnings per share for the current fiscal year.

About Novartis

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.