SpiderRock Advisors LLC Takes $1.29 Million Position in Novartis AG (NYSE:NVS)

SpiderRock Advisors LLC acquired a new stake in Novartis AG (NYSE:NVS - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 11,226 shares of the company's stock, valued at approximately $1,291,000.

A number of other institutional investors have also recently added to or reduced their stakes in NVS. Allspring Global Investments Holdings LLC lifted its stake in Novartis by 1,029.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,754 shares of the company's stock valued at $460,000 after buying an additional 4,333 shares in the last quarter. Norden Group LLC purchased a new stake in Novartis during the 1st quarter worth about $207,000. BNP Paribas Financial Markets increased its position in Novartis by 30.6% during the 1st quarter. BNP Paribas Financial Markets now owns 10,499 shares of the company's stock worth $1,016,000 after purchasing an additional 2,463 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in Novartis by 6.3% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 35,464 shares of the company's stock valued at $3,430,000 after purchasing an additional 2,108 shares in the last quarter. Finally, Concurrent Investment Advisors LLC acquired a new stake in shares of Novartis during the 1st quarter worth about $293,000. Hedge funds and other institutional investors own 13.12% of the company's stock.

Wall Street Analyst Weigh In

NVS has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Novartis in a research note on Friday, July 19th. The Goldman Sachs Group reiterated a "neutral" rating and set a $121.00 price objective (up from $119.00) on shares of Novartis in a research note on Thursday, September 5th. Bank of America downgraded shares of Novartis from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $135.00 to $130.00 in a research report on Wednesday, September 11th. Jefferies Financial Group lowered Novartis from a "buy" rating to a "hold" rating in a research note on Tuesday, September 3rd. Finally, BMO Capital Markets upped their price objective on Novartis from $118.00 to $120.00 and gave the company a "market perform" rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $121.50.

Novartis Price Performance

Shares of NYSE:NVS traded down $0.91 during trading on Monday, reaching $105.54. The company had a trading volume of 841,186 shares, compared to its average volume of 1,341,150. The firm's fifty day moving average is $114.56 and its 200 day moving average is $109.78. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.90 and a current ratio of 1.11. The firm has a market capitalization of $215.72 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 1.55 and a beta of 0.58. Novartis AG has a twelve month low of $92.35 and a twelve month high of $120.92.

Novartis (NYSE:NVS - Get Free Report) last issued its quarterly earnings results 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 net margin of 35.96% and a return on equity of 34.80%. The company had revenue of $12.82 billion during the quarter, compared to the consensus estimate of $12.62 billion. During the same period in the prior year, the company earned $1.74 EPS. On average, equities analysts forecast that Novartis AG will post 7.56 EPS for the current year.

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.