Novartis AG (NYSE:NVS) Shares Sold by Welch & Forbes LLC

Welch & Forbes LLC lowered its position in shares of Novartis AG (NYSE:NVS) by 3.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 63,073 shares of the company’s stock after selling 2,503 shares during the period. Welch & Forbes LLC’s holdings in Novartis were worth $6,138,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in shares of Novartis during the fourth quarter worth about $88,339,000. Aigen Investment Management LP acquired a new stake in shares of Novartis during the fourth quarter worth about $233,000. Proficio Capital Partners LLC acquired a new stake in shares of Novartis during the fourth quarter worth about $225,000. Assetmark Inc. increased its position in shares of Novartis by 18.6% during the fourth quarter. Assetmark Inc. now owns 265,682 shares of the company’s stock worth $25,854,000 after purchasing an additional 41,686 shares in the last quarter. Finally, Victory Capital Management Inc. acquired a new position in Novartis in the 4th quarter valued at about $9,365,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on NVS shares. Erste Group Bank restated a “hold” rating on shares of Novartis in a research report on Tuesday, November 19th. UBS Group restated a “neutral” rating on shares of Novartis in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft upgraded Novartis from a “hold” rating to a “buy” rating in a research report on Tuesday, February 4th. Morgan Stanley initiated coverage on Novartis in a research report on Wednesday, February 12th. They issued an “underweight” rating on the stock. Finally, Barclays reiterated an “underweight” rating on shares of Novartis in a research report on Monday, February 3rd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $123.38.

Novartis Stock Performance

NYSE NVS opened at $115.60 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.48. The business’s 50 day moving average is $104.02 and its two-hundred day moving average is $108.02. Novartis AG has a 12-month low of $92.35 and a 12-month high of $120.92. The stock has a market capitalization of $236.29 billion, a price-to-earnings ratio of 19.66, a PEG ratio of 1.70 and a beta of 0.53.

Novartis (NYSE:NVS) last announced its quarterly earnings results 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 return on equity of 37.24% and a net margin of 23.56%. Research analysts expect that Novartis AG will post 8.45 EPS 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.