Novartis AG (NYSE:NVS) Shares Bought by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB grew its position in shares of Novartis AG (NYSE:NVS - Free Report) by 263.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,404 shares of the company's stock after purchasing an additional 30,016 shares during the period. Wilmington Savings Fund Society FSB's holdings in Novartis were worth $4,762,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new position in Novartis during the third quarter worth $28,000. New Millennium Group LLC acquired a new stake in shares of Novartis in the second quarter valued at $28,000. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Novartis in the second quarter valued at $30,000. Richardson Financial Services Inc. acquired a new stake in shares of Novartis in the second quarter valued at $30,000. Finally, Fortitude Family Office LLC raised its stake in shares of Novartis by 503.8% in the third quarter. Fortitude Family Office LLC now owns 320 shares of the company's stock valued at $37,000 after acquiring an additional 267 shares in the last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Stock Performance

NVS traded down $0.24 during trading on Friday, reaching $98.35. The company's stock had a trading volume of 774,297 shares, compared to its average volume of 1,325,105. Novartis AG has a 52-week low of $92.35 and a 52-week high of $120.92. The company's fifty day moving average price is $108.26 and its 200-day moving average price is $110.14. The company has a market capitalization of $201.03 billion, a price-to-earnings ratio of 11.45, a price-to-earnings-growth ratio of 1.50 and a beta of 0.56. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.90 and a current ratio of 1.11.

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 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 analyst estimates of $12.62 billion. During the same quarter in the previous year, the company earned $1.74 EPS. On average, equities analysts forecast that Novartis AG will post 7.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Erste Group Bank restated a "hold" rating on shares of Novartis in a research note on Tuesday, November 19th. BMO Capital Markets raised their price target on Novartis from $118.00 to $120.00 and gave the company a "market perform" rating in a research note on Wednesday, October 30th. Bank of America cut Novartis from a "buy" rating to a "neutral" rating and cut their price target for the company from $135.00 to $130.00 in a research note on Wednesday, September 11th. HSBC lowered Novartis from a "hold" rating to a "reduce" rating in a report on Wednesday, December 4th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $121.00 price objective (up previously from $119.00) on shares of Novartis in a report on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $121.50.

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.