Sigma Planning Corp Sells 1,012 Shares of Novartis AG (NYSE:NVS)

Sigma Planning Corp cut its holdings in Novartis AG (NYSE:NVS) by 19.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 4,218 shares of the company’s stock after selling 1,012 shares during the period. Sigma Planning Corp’s holdings in Novartis were worth $410,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NVS. Mirae Asset Global Investments Co. Ltd. lifted its position in Novartis by 128.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 528,682 shares of the company’s stock valued at $51,554,000 after acquiring an additional 296,890 shares in the last quarter. World Investment Advisors LLC bought a new position in Novartis in the 3rd quarter valued at approximately $30,063,000. Fisher Asset Management LLC lifted its position in Novartis by 15.7% in the 3rd quarter. Fisher Asset Management LLC now owns 1,706,009 shares of the company’s stock valued at $196,225,000 after acquiring an additional 231,851 shares in the last quarter. ABC Arbitrage SA bought a new position in Novartis in the 4th quarter valued at approximately $19,795,000. Finally, Public Employees Retirement System of Ohio bought a new position in Novartis in the 3rd quarter valued at approximately $21,078,000. 13.12% of the stock is owned by institutional investors.

Novartis Trading Up 0.8 %

NYSE:NVS opened at $108.91 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.04 and a quick ratio of 0.84. The firm has a market capitalization of $222.62 billion, a price-to-earnings ratio of 18.52, a price-to-earnings-growth ratio of 1.70 and a beta of 0.58. Novartis AG has a one year low of $92.35 and a one year high of $120.92. The business has a fifty day moving average price of $102.36 and a 200-day moving average price of $108.08.

Novartis (NYSE:NVS) last posted its quarterly earnings data on Friday, January 31st. The company reported $1.98 EPS for the quarter, topping the consensus estimate of $1.80 by $0.18. Novartis had a return on equity of 37.24% and a net margin of 23.56%. Sell-side analysts forecast that Novartis AG will post 8.45 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NVS. Barclays reaffirmed an “underweight” rating on shares of Novartis in a research report on Monday, February 3rd. Morgan Stanley assumed coverage on Novartis in a report on Wednesday, February 12th. They set an “underweight” rating on the stock. Erste Group Bank reissued a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. HSBC cut Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft raised Novartis from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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.