Brooklyn Investment Group Takes Position in Novartis AG (NYSE:NVS)

Brooklyn Investment Group acquired a new position in Novartis AG (NYSE:NVS) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 563 shares of the company’s stock, valued at approximately $55,000.

A number of other large investors have also recently added to or reduced their stakes in NVS. Hsbc Holdings PLC purchased a new position in shares of Novartis during the 2nd quarter worth approximately $22,979,000. Brighton Jones LLC increased its position in Novartis by 10.1% during the second quarter. Brighton Jones LLC now owns 5,399 shares of the company’s stock worth $575,000 after buying an additional 495 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Novartis by 3.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 6,559 shares of the company’s stock worth $698,000 after acquiring an additional 232 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Novartis in the second quarter valued at $64,610,000. Finally, King Luther Capital Management Corp boosted its stake in shares of Novartis by 5.0% during the second quarter. King Luther Capital Management Corp now owns 9,523 shares of the company’s stock valued at $1,014,000 after acquiring an additional 456 shares during the last quarter. 13.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NVS. BMO Capital Markets boosted their target price on shares of Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Erste Group Bank reissued a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. Finally, HSBC cut shares of Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. Two investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $121.50.

Novartis Price Performance

Novartis stock opened at $97.51 on Monday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.90 and a current ratio of 1.11. The company has a market cap of $199.30 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 1.36 and a beta of 0.57. Novartis AG has a 1 year low of $92.35 and a 1 year high of $120.92. The firm has a 50 day moving average price of $100.61 and a 200 day moving average price of $109.01.

Novartis (NYSE:NVS) last released its quarterly earnings data on Tuesday, October 29th. The company reported $2.06 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 business had revenue of $12.82 billion during the quarter, compared to the consensus estimate of $12.62 billion. During the same period in the prior year, the firm posted $1.74 EPS. Sell-side analysts predict that Novartis AG will post 7.63 earnings per share for the current year.

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.