MML Investors Services LLC Buys 10,763 Shares of Novartis AG (NYSE:NVS)

MML Investors Services LLC increased its stake in shares of Novartis AG (NYSE:NVS) by 9.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 129,201 shares of the company’s stock after purchasing an additional 10,763 shares during the period. MML Investors Services LLC’s holdings in Novartis were worth $14,861,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. New Millennium Group LLC bought a new stake in shares of Novartis in the 2nd quarter valued at about $28,000. Legacy Investment Solutions LLC acquired a new stake in Novartis in the third quarter worth $28,000. Industrial Alliance Investment Management Inc. bought a new position in shares of Novartis during the second quarter worth $30,000. Richardson Financial Services Inc. acquired a new position in shares of Novartis in the 2nd quarter valued at $30,000. Finally, Strategic Financial Concepts LLC bought a new stake in shares of Novartis in the 2nd quarter valued at $35,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Stock Down 0.3 %

Novartis stock opened at $101.66 on Tuesday. Novartis AG has a 12-month low of $92.35 and a 12-month high of $120.92. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $207.79 billion, a PE ratio of 11.81, a PEG ratio of 1.47 and a beta of 0.56. The firm’s fifty day moving average is $109.15 and its 200 day moving average is $110.30.

Novartis (NYSE:NVS) last released its quarterly earnings data on Tuesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. Novartis had a net margin of 35.96% and a return on equity of 34.80%. The company had revenue of $12.82 billion for the quarter, compared to analysts’ expectations of $12.62 billion. During the same quarter in the prior year, the firm earned $1.74 EPS. As a group, sell-side analysts predict that Novartis AG will post 7.66 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NVS has been the subject of a number of research analyst reports. Bank of America cut Novartis from a “buy” rating to a “neutral” rating and decreased their target price for the company from $135.00 to $130.00 in a research note on Wednesday, September 11th. BMO Capital Markets raised their target price on shares of Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. HSBC downgraded shares of Novartis from a “hold” rating to a “reduce” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group restated a “neutral” rating and issued a $121.00 price target (up from $119.00) on shares of Novartis in a report on Thursday, September 5th. Finally, Erste Group Bank reiterated 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. According to MarketBeat, Novartis currently has a consensus rating of “Hold” and an average 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.