Tealwood Asset Management Inc. Raises Stock Holdings in Novartis AG (NYSE:NVS)

Tealwood Asset Management Inc. grew its stake in shares of Novartis AG (NYSE:NVS) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,249 shares of the company’s stock after buying an additional 331 shares during the period. Tealwood Asset Management Inc.’s holdings in Novartis were worth $2,360,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in NVS. Rhumbline Advisers raised its holdings in Novartis by 1.3% during the second quarter. Rhumbline Advisers now owns 37,810 shares of the company’s stock valued at $4,025,000 after acquiring an additional 499 shares during the period. LPL Financial LLC lifted its holdings in Novartis by 11.4% in the 2nd quarter. LPL Financial LLC now owns 402,094 shares of the company’s stock worth $42,807,000 after purchasing an additional 41,046 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in Novartis by 5.7% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 32,706 shares of the company’s stock worth $3,482,000 after purchasing an additional 1,768 shares during the period. HBK Sorce Advisory LLC raised its position in shares of Novartis by 6.1% during the second quarter. HBK Sorce Advisory LLC now owns 2,521 shares of the company’s stock valued at $268,000 after buying an additional 144 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of Novartis by 7.4% in the second quarter. Parallel Advisors LLC now owns 12,946 shares of the company’s stock worth $1,378,000 after buying an additional 896 shares in the last quarter. 13.12% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NVS has been the subject of several research analyst reports. HSBC cut shares of Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. Erste Group Bank reaffirmed a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. Finally, BMO Capital Markets boosted their target price on Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $121.50.

Novartis Stock Up 0.1 %

Shares of NYSE:NVS opened at $99.20 on Tuesday. The company has a market cap of $202.76 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 1.49 and a beta of 0.57. 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 company has a 50-day moving average price of $101.33 and a 200 day moving average price of $109.24.

Novartis (NYSE:NVS) last posted its quarterly earnings data 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 business had revenue of $12.82 billion during 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 last year, the company earned $1.74 EPS. As a group, equities research analysts predict that Novartis AG will post 7.65 earnings per share for the current year.

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.