Synovus Financial Corp Has $2.20 Million Stock Holdings in Novartis AG (NYSE:NVS)

Synovus Financial Corp grew its holdings in shares of Novartis AG (NYSE:NVS) by 42.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,157 shares of the company’s stock after buying an additional 5,728 shares during the quarter. Synovus Financial Corp’s holdings in Novartis were worth $2,204,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Founders Financial Securities LLC boosted its stake in Novartis by 3.4% during the 2nd quarter. Founders Financial Securities LLC now owns 2,832 shares of the company’s stock valued at $301,000 after purchasing an additional 94 shares during the last quarter. Steigerwald Gordon & Koch Inc. boosted its position in shares of Novartis by 4.8% during the third quarter. Steigerwald Gordon & Koch Inc. now owns 2,091 shares of the company’s stock valued at $241,000 after buying an additional 95 shares during the last quarter. Centaurus Financial Inc. grew its holdings in Novartis by 1.7% during the third quarter. Centaurus Financial Inc. now owns 5,728 shares of the company’s stock worth $659,000 after buying an additional 98 shares in the last quarter. Essex LLC raised its position in Novartis by 4.3% in the 2nd quarter. Essex LLC now owns 2,450 shares of the company’s stock valued at $261,000 after buying an additional 100 shares during the last quarter. Finally, FLC Capital Advisors lifted its stake in Novartis by 4.4% during the 3rd quarter. FLC Capital Advisors now owns 2,366 shares of the company’s stock valued at $272,000 after acquiring an additional 100 shares in the last quarter. 13.12% of the stock is owned by institutional investors.

Novartis Trading Down 0.2 %

NYSE:NVS opened at $98.36 on Monday. Novartis AG has a 12 month low of $92.35 and a 12 month high of $120.92. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 0.55. The firm’s 50 day moving average is $107.95 and its 200 day moving average is $110.28. The stock has a market capitalization of $201.05 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 1.49 and a beta of 0.56.

Novartis (NYSE:NVS) last issued its earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.12. The firm had revenue of $12.82 billion for the quarter, compared to analyst estimates of $12.62 billion. Novartis had a return on equity of 34.80% and a net margin of 35.96%. During the same period in the previous year, the company posted $1.74 earnings per share. Sell-side analysts expect that Novartis AG will post 7.65 earnings per share for the current year.

Analysts Set New Price Targets

NVS has been the subject of several recent analyst reports. Erste Group Bank reiterated a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. Jefferies Financial Group downgraded shares of Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd. BMO Capital Markets lifted their target price on shares of Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $121.00 target price (up from $119.00) on shares of Novartis in a report on Thursday, September 5th. Finally, HSBC lowered Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday, December 4th. Two analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $121.50.

About Novartis

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.