Point72 Europe London LLP Makes New $10.30 Million Investment in Novartis AG (NYSE:NVS)

Point72 Europe London LLP bought a new position in shares of Novartis AG (NYSE:NVS - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 105,829 shares of the company's stock, valued at approximately $10,298,000.

Several other institutional investors have also recently made changes to their positions in NVS. Human Investing LLC purchased a new stake in shares of Novartis during the fourth quarter worth about $25,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Novartis during the fourth quarter worth about $27,000. Bellwether Advisors LLC purchased a new stake in shares of Novartis during the fourth quarter worth about $38,000. Kestra Investment Management LLC purchased a new stake in shares of Novartis during the fourth quarter worth about $47,000. Finally, Clearstead Trust LLC purchased a new stake in shares of Novartis during the fourth quarter worth about $51,000. Hedge funds and other institutional investors own 13.12% of the company's stock.

Novartis Stock Up 1.0%

NYSE NVS traded up $1.11 on Friday, reaching $109.57. 1,061,619 shares of the stock traded hands, compared to its average volume of 1,583,450. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.84 and a current ratio of 1.04. The company has a fifty day moving average price of $109.68 and a 200-day moving average price of $105.72. The company has a market cap of $231.45 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 1.70 and a beta of 0.60. Novartis AG has a 12 month low of $96.06 and a 12 month high of $120.92.

Novartis (NYSE:NVS - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $2.28 earnings per share for the quarter, topping 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 during the quarter, compared to analysts' expectations of $12.92 billion. During the same quarter last year, the firm earned $1.80 EPS. The business's quarterly revenue was up 11.9% on a year-over-year basis. As a group, research analysts forecast that Novartis AG will post 8.45 EPS for the current fiscal year.

Novartis Dividend Announcement

The company also recently declared a dividend, which was paid on Wednesday, March 12th. Shareholders of record on Wednesday, March 12th were given a dividend of $3.8695 per share. The ex-dividend date was Wednesday, March 12th. Novartis's dividend payout ratio is currently 40.47%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. BNP Paribas raised Novartis to a "strong-buy" rating in a research note on Tuesday, April 15th. Barclays reissued an "underweight" rating on shares of Novartis in a research note on Monday, February 3rd. UBS Group reaffirmed a "neutral" rating on shares of Novartis in a research note on Thursday, February 13th. StockNews.com raised Novartis from a "buy" rating to a "strong-buy" rating in a research note on Saturday, February 8th. Finally, Deutsche Bank Aktiengesellschaft raised Novartis from a "hold" rating to a "buy" rating in a research note on Tuesday, February 4th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $123.38.

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.