13,701 Shares in Novartis AG (NYSE:NVS) Bought by Milestone Asset Management LLC

Milestone Asset Management LLC purchased a new position in Novartis AG (NYSE:NVS) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 13,701 shares of the company’s stock, valued at approximately $1,333,000.

Other large investors have also bought and sold shares of the company. Steigerwald Gordon & Koch Inc. boosted its holdings in Novartis by 4.8% during the third quarter. Steigerwald Gordon & Koch Inc. now owns 2,091 shares of the company’s stock worth $241,000 after purchasing an additional 95 shares during the last quarter. Centaurus Financial Inc. raised its position in shares of Novartis by 1.7% in the third quarter. Centaurus Financial Inc. now owns 5,728 shares of the company’s stock valued at $659,000 after purchasing an additional 98 shares during the period. FLC Capital Advisors raised its position in shares of Novartis by 4.4% in the third quarter. FLC Capital Advisors now owns 2,366 shares of the company’s stock valued at $272,000 after purchasing an additional 100 shares during the period. Clear Harbor Asset Management LLC raised its position in shares of Novartis by 2.3% in the third quarter. Clear Harbor Asset Management LLC now owns 4,423 shares of the company’s stock valued at $509,000 after purchasing an additional 100 shares during the period. Finally, Allen Wealth Management LLC grew its stake in Novartis by 1.8% during the third quarter. Allen Wealth Management LLC now owns 5,788 shares of the company’s stock valued at $666,000 after acquiring an additional 100 shares in the last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Stock Up 1.2 %

NYSE:NVS opened at $103.09 on Thursday. The firm has a market cap of $210.72 billion, a P/E ratio of 11.97, a P/E/G 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 fifty-two week low of $92.35 and a fifty-two week high of $120.92. The firm has a 50-day simple moving average of $100.07 and a two-hundred day simple moving average of $108.57.

Novartis (NYSE:NVS) last announced 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 company had revenue of $12.82 billion during the quarter, compared to analyst estimates of $12.62 billion. Novartis had a net margin of 35.96% and a return on equity of 34.80%. During the same period in the previous year, the business posted $1.74 earnings per share. Analysts predict that Novartis AG will post 7.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. BMO Capital Markets boosted their price target on shares of Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. HSBC cut shares of Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $123.38.

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.