Leo Wealth LLC Has $1.16 Million Holdings in Novartis AG (NYSE:NVS)

Leo Wealth LLC decreased its holdings in shares of Novartis AG (NYSE:NVS) by 14.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 11,873 shares of the company’s stock after selling 2,066 shares during the period. Leo Wealth LLC’s holdings in Novartis were worth $1,155,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in NVS. Legacy Investment Solutions LLC bought a new position in shares of Novartis in the 3rd quarter valued at about $28,000. Union Bancaire Privee UBP SA acquired a new position in shares of Novartis during the 4th quarter worth approximately $27,000. Fortitude Family Office LLC raised its stake in shares of Novartis by 503.8% during the 3rd quarter. Fortitude Family Office LLC now owns 320 shares of the company’s stock worth $37,000 after purchasing an additional 267 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of Novartis in the 4th quarter valued at approximately $55,000. Finally, Beaird Harris Wealth Management LLC grew its stake in shares of Novartis by 280.5% in the third quarter. Beaird Harris Wealth Management LLC now owns 704 shares of the company’s stock valued at $81,000 after buying an additional 519 shares in the last quarter. Institutional investors own 13.12% of the company’s stock.

Novartis Stock Performance

NVS opened at $106.95 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.11 and a quick ratio of 0.90. The company has a market capitalization of $218.60 billion, a PE ratio of 18.19, a price-to-earnings-growth ratio of 1.51 and a beta of 0.58. The business has a fifty day simple moving average of $100.28 and a 200 day simple moving average of $108.42. Novartis AG has a 1 year low of $92.35 and a 1 year high of $120.92.

Novartis (NYSE:NVS) last released its quarterly earnings results on Friday, January 31st. The company reported $1.98 EPS for the quarter, beating the consensus estimate of $1.80 by $0.18. Novartis had a net margin of 23.56% and a return on equity of 37.79%. Research analysts expect that Novartis AG will post 8.34 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. HSBC cut shares of Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. Erste Group Bank reiterated a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft upgraded Novartis from a “hold” rating to a “buy” rating in a research note on Tuesday. BMO Capital Markets lifted their target price on Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Finally, StockNews.com downgraded Novartis from a “strong-buy” rating to a “buy” rating in a report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Novartis currently has a consensus rating of “Hold” and a consensus target price of $123.38.

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.