Eldred Rock Partners LLC Raises Position in Novartis AG (NYSE:NVS)

Eldred Rock Partners LLC boosted its stake in shares of Novartis AG (NYSE:NVS - Free Report) by 33.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 80,835 shares of the company's stock after acquiring an additional 20,184 shares during the quarter. Novartis comprises about 2.8% of Eldred Rock Partners LLC's investment portfolio, making the stock its 23rd biggest position. Eldred Rock Partners LLC's holdings in Novartis were worth $9,034,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in NVS. Continuum Advisory LLC grew its stake in shares of Novartis by 10.3% during the fourth quarter. Continuum Advisory LLC now owns 1,021 shares of the company's stock valued at $99,000 after buying an additional 95 shares during the last quarter. Bryn Mawr Capital Management LLC boosted its holdings in shares of Novartis by 0.8% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 12,884 shares of the company's stock valued at $1,254,000 after purchasing an additional 100 shares during the period. Rothschild Investment LLC boosted its holdings in shares of Novartis by 0.6% in the fourth quarter. Rothschild Investment LLC now owns 16,682 shares of the company's stock valued at $1,623,000 after purchasing an additional 101 shares during the period. Meridian Wealth Management LLC boosted its holdings in shares of Novartis by 2.6% in the fourth quarter. Meridian Wealth Management LLC now owns 4,161 shares of the company's stock valued at $405,000 after purchasing an additional 106 shares during the period. Finally, Angeles Wealth Management LLC lifted its holdings in Novartis by 3.5% during the fourth quarter. Angeles Wealth Management LLC now owns 3,249 shares of the company's stock worth $316,000 after buying an additional 110 shares during the period. 13.12% of the stock is owned by institutional investors.

Novartis Stock Performance

NVS traded up $0.70 during midday trading on Thursday, hitting $117.64. 555,105 shares of the company were exchanged, compared to its average volume of 1,585,983. Novartis AG has a 1-year low of $96.06 and a 1-year 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 firm has a market capitalization of $248.51 billion, a price-to-earnings ratio of 20.01, a price-to-earnings-growth ratio of 1.70 and a beta of 0.60. The company's 50 day simple moving average is $110.33 and its 200 day simple moving average is $106.36.

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NVS. BNP Paribas upgraded Novartis to a "strong-buy" rating in a report on Tuesday, April 15th. Wall Street Zen upgraded Novartis from a "buy" rating to a "strong-buy" rating in a report on Saturday, February 8th. Morgan Stanley initiated coverage on Novartis in a report on Wednesday, February 12th. They set an "underweight" rating for the company. Finally, UBS Group reiterated a "neutral" rating on shares of Novartis in a report on Thursday, February 13th. Three equities 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, Novartis has a consensus rating of "Hold" and an average target price of $123.38.

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.