Tidal Investments LLC Has $653,000 Position in Novartis AG (NYSE:NVS)

Tidal Investments LLC grew its stake in Novartis AG (NYSE:NVS) by 24.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,680 shares of the company’s stock after buying an additional 1,114 shares during the period. Tidal Investments LLC’s holdings in Novartis were worth $653,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in NVS. Legacy Investment Solutions LLC acquired a new stake in Novartis during the 3rd quarter valued at approximately $28,000. New Millennium Group LLC acquired a new stake in shares of Novartis during the second quarter worth $28,000. Industrial Alliance Investment Management Inc. bought a new position in Novartis during the second quarter worth $30,000. Richardson Financial Services Inc. bought a new stake in Novartis during the second quarter valued at $30,000. Finally, Fortitude Family Office LLC grew its holdings in Novartis by 503.8% during the 3rd quarter. Fortitude Family Office LLC now owns 320 shares of the company’s stock worth $37,000 after acquiring an additional 267 shares during the period. 13.12% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Erste Group Bank reissued a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. Jefferies Financial Group cut Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. Bank of America lowered shares of Novartis from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $135.00 to $130.00 in a research note on Wednesday, September 11th. The Goldman Sachs Group restated a “neutral” rating and issued a $121.00 price target (up from $119.00) on shares of Novartis in a report on Thursday, September 5th. Finally, HSBC downgraded shares of Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. Two equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $121.50.

Novartis Stock Performance

NVS opened at $97.11 on Friday. Novartis AG has a 1-year low of $92.35 and a 1-year high of $120.92. The company has a market cap of $198.49 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 1.49 and a beta of 0.56. The company’s fifty day moving average price is $106.21 and its two-hundred day moving average price is $110.04. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 0.55.

Novartis (NYSE:NVS) last posted its earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.12. The firm 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 posted $1.74 EPS. On average, analysts expect that Novartis AG will post 7.65 EPS for the current fiscal year.

About Novartis

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.