Strategic Financial Concepts LLC Takes Position in Novartis AG (NYSE:NVS)

Strategic Financial Concepts LLC bought a new position in shares of Novartis AG (NYSE:NVS - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 26,622 shares of the company's stock, valued at approximately $2,591,000.

A number of other hedge funds also recently bought and sold shares of the stock. Union Bancaire Privee UBP SA purchased a new stake in shares of Novartis during the 4th quarter valued at $27,000. Legacy Investment Solutions LLC purchased a new stake in shares of Novartis during the 3rd quarter valued at $28,000. Fortitude Family Office LLC lifted its holdings in shares of Novartis by 503.8% during the 3rd quarter. Fortitude Family Office LLC now owns 320 shares of the company's stock valued at $37,000 after purchasing an additional 267 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of Novartis during the 4th quarter valued at $55,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Novartis during the 4th quarter valued at $69,000. Hedge funds and other institutional investors own 13.12% of the company's stock.

Analyst Ratings Changes

NVS has been the subject of several analyst reports. HSBC lowered Novartis from a "hold" rating to a "reduce" rating in a report on Wednesday, December 4th. Erste Group Bank reiterated a "hold" rating on shares of Novartis in a report on Tuesday, November 19th. BMO Capital Markets upped their target price on Novartis from $118.00 to $120.00 and gave the company a "market perform" rating in a research report on Wednesday, October 30th. StockNews.com raised Novartis from a "buy" rating to a "strong-buy" rating in a research report on Saturday, February 8th. Finally, UBS Group reissued a "neutral" rating on shares of Novartis in a research report on Thursday, February 13th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $123.38.

Novartis Stock Performance

Shares of NYSE NVS traded up $2.11 during mid-day trading on Friday, hitting $109.42. The stock had a trading volume of 2,274,792 shares, compared to its average volume of 1,952,208. The company has a 50 day moving average of $101.24 and a two-hundred day moving average of $108.15. The firm has a market cap of $223.65 billion, a PE ratio of 18.61, a PEG ratio of 1.70 and a beta of 0.58. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.84 and a current ratio of 1.04. 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 announced its quarterly earnings results on Friday, January 31st. The company reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.18. Novartis had a return on equity of 37.24% and a net margin of 23.56%. Research analysts predict that Novartis AG will post 8.45 EPS for the current fiscal year.

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.