Novartis AG (NYSE:NVS) Shares Sold by Euro Pacific Asset Management LLC

Euro Pacific Asset Management LLC reduced its stake in Novartis AG (NYSE:NVS) by 2.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 95,218 shares of the company’s stock after selling 2,006 shares during the quarter. Novartis accounts for 2.0% of Euro Pacific Asset Management LLC’s portfolio, making the stock its 21st largest position. Euro Pacific Asset Management LLC’s holdings in Novartis were worth $9,279,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in NVS. Legacy Investment Solutions LLC purchased a new position in shares of Novartis in the third quarter valued at approximately $28,000. Fortitude Family Office LLC raised its stake in Novartis by 503.8% in the third quarter. Fortitude Family Office LLC now owns 320 shares of the company’s stock valued at $37,000 after buying an additional 267 shares in the last quarter. Clean Yield Group acquired a new position in Novartis in the third quarter valued at approximately $43,000. Brooklyn Investment Group acquired a new position in shares of Novartis in the 4th quarter valued at $55,000. Finally, Versant Capital Management Inc boosted its stake in Novartis by 782.0% in the fourth quarter. Versant Capital Management Inc now owns 785 shares of the company’s stock valued at $76,000 after acquiring an additional 696 shares in the last quarter. 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 a number of recent research reports. HSBC cut shares of Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday, December 4th. BMO Capital Markets upped their target price 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, Erste Group Bank reiterated a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $123.38.

Novartis Stock Down 0.1 %

Shares of NYSE NVS opened at $99.93 on Friday. The firm has a market cap of $204.25 billion, a P/E ratio of 11.61, a price-to-earnings-growth ratio of 1.42 and a beta of 0.57. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.90 and a current ratio of 1.11. Novartis AG has a 1 year low of $92.35 and a 1 year high of $120.92. The firm’s 50 day moving average price is $100.15 and its 200 day moving average price is $108.75.

Novartis (NYSE:NVS) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $2.06 EPS 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 quarter in the prior year, the company posted $1.74 EPS. As a group, sell-side analysts anticipate that Novartis AG will post 7.62 earnings per share for the current 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.