Daymark Wealth Partners LLC Increases Stock Holdings in Novartis AG (NYSE:NVS)

Daymark Wealth Partners LLC increased its stake in Novartis AG (NYSE:NVS) by 5.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 29,272 shares of the company’s stock after acquiring an additional 1,395 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Novartis were worth $2,848,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Legacy Investment Solutions LLC purchased a new stake in shares of Novartis during the third quarter worth about $28,000. Fortitude Family Office LLC lifted its stake in Novartis by 503.8% in the 3rd 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 stake in Novartis in the 3rd quarter worth about $43,000. Brooklyn Investment Group purchased a new stake in Novartis during the 4th quarter worth approximately $55,000. Finally, Beaird Harris Wealth Management LLC raised its holdings in shares of Novartis by 280.5% during the third quarter. Beaird Harris Wealth Management LLC now owns 704 shares of the company’s stock valued at $81,000 after acquiring an additional 519 shares during the last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Stock Performance

NYSE NVS opened at $98.17 on Thursday. 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 stock’s fifty day moving average is $100.34 and its two-hundred day moving average is $108.88. The firm has a market capitalization of $200.65 billion, a P/E ratio of 11.40, a price-to-earnings-growth ratio of 1.44 and a beta of 0.57. Novartis AG has a fifty-two week low of $92.35 and a fifty-two week high of $120.92.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $2.06 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $12.62 billion. During the same quarter in the previous year, the firm earned $1.74 EPS. On average, research analysts anticipate that Novartis AG will post 7.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. BMO Capital Markets lifted their price target on Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. HSBC lowered Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday, December 4th. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat, Novartis presently has a consensus rating of “Hold” and a consensus target price of $121.50.

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.