Tri Ri Asset Management Corp Invests $3.82 Million in Novartis AG (NYSE:NVS)

Tri Ri Asset Management Corp acquired a new position in Novartis AG (NYSE:NVS - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 33,202 shares of the company's stock, valued at approximately $3,819,000. Novartis accounts for approximately 4.3% of Tri Ri Asset Management Corp's investment portfolio, making the stock its 10th biggest position.

Other institutional investors have also recently added to or reduced their stakes in the company. New Millennium Group LLC bought a new stake in shares of Novartis in the 2nd quarter worth approximately $28,000. Legacy Investment Solutions LLC bought a new stake in Novartis in the third quarter valued at $28,000. Industrial Alliance Investment Management Inc. bought a new stake in Novartis in the second quarter valued at $30,000. Richardson Financial Services Inc. bought a new position in shares of Novartis during the second quarter worth about $30,000. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Novartis in the 2nd quarter worth about $35,000. Institutional investors own 13.12% of the company's stock.

Novartis Price Performance

NYSE NVS traded down $0.53 on Friday, reaching $101.99. 802,382 shares of the stock traded hands, compared to its average volume of 1,176,721. Novartis AG has a 12 month low of $92.35 and a 12 month high of $120.92. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 0.55. The firm's fifty day simple moving average is $109.69 and its 200 day simple moving average is $110.20. The company has a market cap of $208.47 billion, a price-to-earnings ratio of 11.84, a P/E/G ratio of 1.47 and a beta of 0.56.

Novartis (NYSE:NVS - Get Free Report) last released its earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $12.82 billion for the quarter, compared to analyst estimates of $12.62 billion. During the same period in the previous year, the company earned $1.74 earnings per share. As a group, research analysts predict that Novartis AG will post 7.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on NVS shares. Erste Group Bank reissued a "hold" rating on shares of Novartis in a research note on Tuesday, November 19th. HSBC lowered Novartis from a "hold" rating to a "reduce" rating in a report on Wednesday. Jefferies Financial Group downgraded Novartis from a "buy" rating to a "hold" rating in a research note on Tuesday, September 3rd. The Goldman Sachs Group reissued a "neutral" rating and set a $121.00 price target (up from $119.00) on shares of Novartis in a report on Thursday, September 5th. Finally, Bank of America lowered Novartis from a "buy" rating to a "neutral" rating and lowered their price target for the company from $135.00 to $130.00 in a report on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $121.50.

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.