Concurrent Investment Advisors LLC Buys 409 Shares of Novartis AG (NYSE:NVS)

Concurrent Investment Advisors LLC boosted its stake in shares of Novartis AG (NYSE:NVS) by 11.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,143 shares of the company’s stock after buying an additional 409 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Novartis were worth $403,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Human Investing LLC bought a new stake in Novartis during the 4th quarter valued at about $25,000. Union Bancaire Privee UBP SA bought a new stake in Novartis during the 4th quarter valued at about $27,000. Legacy Investment Solutions LLC bought a new stake in Novartis during the 3rd quarter valued at about $28,000. Fortitude Family Office LLC lifted its holdings in Novartis by 503.8% during 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. Finally, Kestra Investment Management LLC bought a new stake in Novartis during the 4th quarter valued at about $47,000. Institutional investors own 13.12% of the company’s stock.

Novartis Trading Down 0.2 %

NYSE NVS opened at $109.15 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.48. The firm has a market cap of $223.10 billion, a PE ratio of 18.56, a price-to-earnings-growth ratio of 1.70 and a beta of 0.58. The company has a 50 day moving average price of $101.69 and a 200 day moving average price of $108.09. Novartis AG has a 52 week low of $92.35 and a 52 week high of $120.92.

Novartis (NYSE:NVS) last posted its quarterly earnings data on Friday, January 31st. The company reported $1.98 EPS for the quarter, topping the consensus estimate of $1.80 by $0.18. Novartis had a net margin of 23.56% and a return on equity of 37.24%. As a group, sell-side analysts forecast that Novartis AG will post 8.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NVS has been the subject of a number of research analyst reports. Erste Group Bank reiterated a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. Barclays restated an “underweight” rating on shares of Novartis in a report on Monday, February 3rd. HSBC lowered shares of Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday, December 4th. BMO Capital Markets boosted their price target on shares of Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Finally, StockNews.com upgraded shares of Novartis from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 8th. Three analysts have rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target 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.