20,736 Shares in Novartis AG (NYSE:NVS) Bought by Parr Mcknight Wealth Management Group LLC

Parr Mcknight Wealth Management Group LLC bought a new position in shares of Novartis AG (NYSE:NVS - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 20,736 shares of the company's stock, valued at approximately $2,018,000.

Other hedge funds have also modified their holdings of the company. Human Investing LLC bought a new stake in shares of Novartis during the fourth quarter worth $25,000. Raiffeisen Bank International AG acquired a new stake in shares of Novartis during the 4th quarter worth approximately $25,000. Union Bancaire Privee UBP SA bought a new stake in shares of Novartis during the fourth quarter worth approximately $27,000. Bellwether Advisors LLC acquired a new stake in Novartis during the 4th quarter worth $38,000. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of Novartis during the 4th quarter valued at $39,000. 13.12% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NVS has been the subject of a number of analyst reports. Wall Street Zen raised Novartis from a "buy" rating to a "strong-buy" rating in a research note on Saturday, February 8th. BNP Paribas upgraded shares of Novartis to a "strong-buy" rating in a research report on Tuesday, April 15th. Deutsche Bank Aktiengesellschaft upgraded shares of Novartis from a "hold" rating to a "buy" rating in a report on Tuesday, February 4th. UBS Group reiterated a "neutral" rating on shares of Novartis in a report on Thursday, February 13th. Finally, Barclays reissued an "underweight" rating on shares of Novartis in a report on Monday, February 3rd. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Novartis has an average rating of "Hold" and an average target price of $123.38.

Novartis Stock Down 1.0%

Shares of NVS stock traded down $1.09 during trading hours on Wednesday, hitting $112.12. 757,449 shares of the company were exchanged, compared to its average volume of 1,584,974. Novartis AG has a 52 week low of $96.06 and a 52 week high of $120.92. 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 has a 50 day moving average of $109.89 and a two-hundred day moving average of $105.92. The company has a market capitalization of $236.84 billion, a PE ratio of 19.06, a PEG ratio of 1.70 and a beta of 0.60.

Novartis (NYSE:NVS - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $2.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.12 by $0.16. The firm had revenue of $13.23 billion during the quarter, compared to analysts' expectations of $12.92 billion. Novartis had a return on equity of 37.24% and a net margin of 23.56%. The company's revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.80 EPS. Analysts anticipate that Novartis AG will post 8.45 earnings per share for the current fiscal year.

Novartis Company 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.