Raymond James Financial Inc. Makes New Investment in Novartis AG (NYSE:NVS)

Raymond James Financial Inc. purchased a new position in Novartis AG (NYSE:NVS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 907,812 shares of the company's stock, valued at approximately $88,339,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Concurrent Investment Advisors LLC grew its holdings in shares of Novartis by 11.8% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 3,734 shares of the company's stock worth $429,000 after purchasing an additional 393 shares during the last quarter. CWA Asset Management Group LLC acquired a new stake in shares of Novartis during the third quarter worth approximately $2,953,000. Equitable Trust Co. bought a new position in shares of Novartis in the third quarter valued at approximately $229,000. SpiderRock Advisors LLC acquired a new position in shares of Novartis in the 3rd quarter worth approximately $1,291,000. Finally, Assetmark Inc. grew its position in Novartis by 4.8% during the 3rd quarter. Assetmark Inc. now owns 223,996 shares of the company's stock worth $25,764,000 after acquiring an additional 10,290 shares during the last quarter. Institutional investors own 13.12% of the company's stock.

Novartis Price Performance

Shares of NVS stock traded down $3.46 during trading on Tuesday, hitting $112.01. The company had a trading volume of 1,082,078 shares, compared to its average volume of 2,045,338. The stock's 50-day moving average price is $104.38 and its 200 day moving average price is $107.87. Novartis AG has a one year low of $92.35 and a one year high of $120.92. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.84 and a current ratio of 1.04. The firm has a market capitalization of $228.95 billion, a P/E ratio of 19.05, a price-to-earnings-growth ratio of 1.70 and a beta of 0.53.

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Novartis (NYSE:NVS - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The company reported $1.98 EPS for the quarter, topping analysts' consensus estimates of $1.80 by $0.18. Novartis had a return on equity of 37.24% and a net margin of 23.56%. Equities analysts expect that Novartis AG will post 8.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. StockNews.com upgraded Novartis from a "buy" rating to a "strong-buy" rating in a research report on Saturday, February 8th. Deutsche Bank Aktiengesellschaft raised Novartis from a "hold" rating to a "buy" rating in a research note on Tuesday, February 4th. HSBC lowered shares of Novartis from a "hold" rating to a "reduce" rating in a research note on Wednesday, December 4th. Erste Group Bank reaffirmed a "hold" rating on shares of Novartis in a research report on Tuesday, November 19th. Finally, Morgan Stanley initiated coverage on Novartis in a research note on Wednesday, February 12th. They issued an "underweight" rating on the stock. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Novartis currently has an average rating of "Hold" and a consensus 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.