Cable Hill Partners LLC Has $1.37 Million Position in Novartis AG (NYSE:NVS)

Cable Hill Partners LLC raised its position in Novartis AG (NYSE:NVS) by 4.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,933 shares of the company’s stock after acquiring an additional 550 shares during the period. Cable Hill Partners LLC’s holdings in Novartis were worth $1,373,000 as of its most recent SEC filing.

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

Novartis Price Performance

NVS stock opened at $103.89 on Thursday. 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 AG has a 12-month low of $92.35 and a 12-month high of $120.92. The stock has a market capitalization of $212.35 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 1.52 and a beta of 0.58. The firm’s 50-day moving average price is $113.98 and its two-hundred day moving average price is $109.88.

Novartis (NYSE:NVS) last released its earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. Novartis had a net margin of 35.96% and a return on equity of 34.80%. The firm had revenue of $12.82 billion for the quarter, compared to the consensus estimate of $12.62 billion. During the same period in the prior year, the firm earned $1.74 EPS. As a group, equities analysts predict that Novartis AG will post 7.61 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Bank of America downgraded shares of Novartis from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $135.00 to $130.00 in a report on Wednesday, September 11th. Jefferies Financial Group cut shares of Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Novartis in a research report on Friday, July 19th. BMO Capital Markets increased 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. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $121.00 price objective (up from $119.00) on shares of Novartis in a report on Thursday, September 5th. One equities 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 company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average 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.