Cohen Capital Management Inc. Reduces Stake in Novartis AG (NYSE:NVS)

Cohen Capital Management Inc. lessened its holdings in shares of Novartis AG (NYSE:NVS) by 1.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,903 shares of the company’s stock after selling 1,175 shares during the period. Novartis comprises approximately 1.3% of Cohen Capital Management Inc.’s investment portfolio, making the stock its 23rd biggest position. Cohen Capital Management Inc.’s holdings in Novartis were worth $7,678,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Human Investing LLC purchased a new position in shares of Novartis during the fourth quarter valued at approximately $25,000. Union Bancaire Privee UBP SA purchased a new position in shares of Novartis during the fourth quarter valued at approximately $27,000. Legacy Investment Solutions LLC purchased a new position in shares of Novartis during the third quarter valued at approximately $28,000. Fortitude Family Office LLC boosted its position in shares of Novartis by 503.8% during 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 during the period. Finally, Kestra Investment Management LLC purchased a new position in shares of Novartis during the fourth quarter valued at approximately $47,000. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on NVS shares. BMO Capital Markets boosted their target price on Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Erste Group Bank reaffirmed a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. StockNews.com raised shares of Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 8th. Barclays reaffirmed an “underweight” rating on shares of Novartis in a research note on Monday, February 3rd. Finally, Morgan Stanley initiated coverage on shares of Novartis in a research note on Wednesday, February 12th. They set an “underweight” rating for the company. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Novartis currently has a consensus rating of “Hold” and a consensus price target of $123.38.

Novartis Stock Performance

Shares of NYSE:NVS opened at $109.42 on Friday. The company has a market capitalization of $223.65 billion, a price-to-earnings ratio of 18.61, a price-to-earnings-growth ratio of 1.70 and a beta of 0.58. Novartis AG has a 52 week low of $92.35 and a 52 week high of $120.92. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.48. The firm has a 50 day moving average of $101.46 and a 200 day moving average of $108.13.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Friday, January 31st. The company reported $1.98 EPS for the quarter, topping analysts’ consensus estimates 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 predict that Novartis AG will post 8.45 earnings per share for the current fiscal 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.