OLD National Bancorp IN Grows Position in Novartis AG (NYSE:NVS)

OLD National Bancorp IN grew its position in shares of Novartis AG (NYSE:NVS) by 1.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,257 shares of the company’s stock after acquiring an additional 220 shares during the quarter. OLD National Bancorp IN’s holdings in Novartis were worth $1,387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new stake in Novartis in the 3rd quarter worth about $28,000. Union Bancaire Privee UBP SA purchased a new position in shares of Novartis in the 4th quarter worth approximately $27,000. Fortitude Family Office LLC grew its holdings in shares of Novartis by 503.8% in the third quarter. Fortitude Family Office LLC now owns 320 shares of the company’s stock valued at $37,000 after acquiring an additional 267 shares in the last quarter. Clean Yield Group purchased a new stake in shares of Novartis during the third quarter valued at approximately $43,000. Finally, Brooklyn Investment Group bought a new stake in Novartis during the fourth quarter worth $55,000. Institutional investors own 13.12% of the company’s stock.

Novartis Stock Performance

NYSE NVS opened at $104.65 on Friday. The company’s 50 day moving average is $100.09 and its 200-day moving average is $108.50. The firm has a market cap of $213.91 billion, a P/E ratio of 12.15, a price-to-earnings-growth 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 quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 0.55.

Novartis (NYSE:NVS) last posted its earnings results on Friday, January 31st. The company reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.18. Novartis had a return on equity of 34.80% and a net margin of 35.96%. Sell-side analysts predict that Novartis AG will post 7.62 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on NVS shares. HSBC downgraded Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. StockNews.com lowered shares of Novartis from a “strong-buy” rating to a “buy” rating in a research report on Friday. BMO Capital Markets increased their target price on shares of Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $123.38.

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.