GAMMA Investing LLC Sells 155 Shares of Novartis AG (NYSE:NVS)

GAMMA Investing LLC decreased its holdings in shares of Novartis AG (NYSE:NVS) by 4.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,309 shares of the company’s stock after selling 155 shares during the period. GAMMA Investing LLC’s holdings in Novartis were worth $320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of NVS. Frazier Financial Advisors LLC bought a new stake in Novartis during the 4th quarter worth approximately $26,000. Richardson Financial Services Inc. bought a new stake in shares of Novartis during the 4th quarter valued at $26,000. Operose Advisors LLC purchased a new position in shares of Novartis during the 3rd quarter valued at $28,000. Planned Solutions Inc. bought a new position in Novartis in the 4th quarter worth $31,000. Finally, AdvisorNet Financial Inc increased its stake in Novartis by 480.0% in the 4th quarter. AdvisorNet Financial Inc now owns 348 shares of the company’s stock worth $35,000 after buying an additional 288 shares in the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Stock Up 0.0 %

NVS opened at $104.94 on Thursday. The company has a market capitalization of $214.50 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 1.61 and a beta of 0.58. The firm has a 50-day simple moving average of $100.42 and a two-hundred day simple moving average of $100.76. The company has a quick ratio of 0.71, a current ratio of 0.90 and a debt-to-equity ratio of 0.43. Novartis AG has a 52 week low of $92.19 and a 52 week high of $108.78.

Novartis (NYSE:NVS) last posted its earnings results on Tuesday, April 23rd. The company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.07. The company had revenue of $11.83 billion for the quarter, compared to the consensus estimate of $11.50 billion. Novartis had a return on equity of 32.15% and a net margin of 31.33%. Analysts forecast that Novartis AG will post 7.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on NVS shares. The Goldman Sachs Group started coverage on Novartis in a research report on Thursday, May 30th. They issued a “buy” rating and a $120.00 price objective on the stock. BMO Capital Markets boosted their price target on Novartis from $114.00 to $116.00 and gave the stock a “market perform” rating in a report on Wednesday, April 24th. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.67.

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.