Kestra Investment Management LLC Makes New Investment in Novartis AG (NYSE:NVS)

Kestra Investment Management LLC bought a new position in Novartis AG (NYSE:NVS) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 485 shares of the company’s stock, valued at approximately $47,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NVS. Human Investing LLC purchased a new stake in Novartis in the 4th quarter worth approximately $25,000. Union Bancaire Privee UBP SA bought a new position in shares of Novartis during the 4th quarter valued at $27,000. Legacy Investment Solutions LLC bought a new position in shares of Novartis during the 3rd quarter valued at $28,000. Fortitude Family Office LLC raised 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 in the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of Novartis during the 4th quarter valued at $55,000. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Stock Performance

NYSE:NVS opened at $109.42 on Friday. Novartis AG has a 1 year low of $92.35 and a 1 year high of $120.92. The firm’s fifty day simple moving average is $101.24 and its 200 day simple moving average is $108.15. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $223.65 billion, a PE ratio of 18.61, a PEG ratio of 1.70 and a beta of 0.58.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Friday, January 31st. The company reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.18. Novartis had a net margin of 23.56% and a return on equity of 37.24%. On average, sell-side analysts anticipate that Novartis AG will post 8.45 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Erste Group Bank restated a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. Morgan Stanley assumed coverage on shares of Novartis in a report on Wednesday, February 12th. They set an “underweight” rating on the stock. StockNews.com upgraded shares of Novartis from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 8th. BMO Capital Markets raised their price target on shares of Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Novartis from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target 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.