Martin Investment Management LLC Buys 5,700 Shares of Novartis AG (NYSE:NVS)

Martin Investment Management LLC grew its stake in Novartis AG (NYSE:NVS) by 2.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 234,636 shares of the company’s stock after buying an additional 5,700 shares during the period. Novartis accounts for about 6.6% of Martin Investment Management LLC’s holdings, making the stock its 3rd biggest holding. Martin Investment Management LLC’s holdings in Novartis were worth $26,988,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NVS. New Millennium Group LLC acquired a new stake in Novartis during the 2nd quarter worth about $28,000. Clearstead Trust LLC increased its holdings in Novartis by 73.5% in the first quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock worth $26,000 after purchasing an additional 114 shares in the last quarter. Lynx Investment Advisory acquired a new position in Novartis in the second quarter valued at approximately $29,000. Industrial Alliance Investment Management Inc. bought a new position in shares of Novartis during the 2nd quarter worth approximately $30,000. Finally, Richardson Financial Services Inc. acquired a new stake in shares of Novartis during the 2nd quarter worth approximately $30,000. 13.12% of the stock is owned by institutional investors and hedge funds.

Novartis Stock Up 1.1 %

Shares of NYSE:NVS opened at $110.52 on Tuesday. Novartis AG has a 1 year low of $92.35 and a 1 year high of $120.92. The company has a market capitalization of $225.90 billion, a PE ratio of 12.84, a price-to-earnings-growth ratio of 1.59 and a beta of 0.58. The business has a fifty day moving average price of $115.58 and a two-hundred day moving average price of $109.47. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.11 and a quick ratio of 0.90.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.12. The company had revenue of $12.82 billion during the quarter, compared to analyst estimates of $12.62 billion. Novartis had a net margin of 35.96% and a return on equity of 34.80%. During the same quarter in the prior year, the business earned $1.74 earnings per share. Analysts forecast that Novartis AG will post 7.56 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Bank of America downgraded shares of Novartis from a “buy” rating to a “neutral” rating and dropped their target price for the company from $135.00 to $130.00 in a research report on Wednesday, September 11th. Jefferies Financial Group cut shares of Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd. BMO Capital Markets boosted their target price on Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Novartis in a report on Friday, July 19th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $121.00 price objective (up previously from $119.00) on shares of Novartis in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $121.50.

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.