GAMMA Investing LLC Sells 413 Shares of Novartis AG (NYSE:NVS)

GAMMA Investing LLC lowered its position in Novartis AG (NYSE:NVS) by 7.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,024 shares of the company’s stock after selling 413 shares during the period. GAMMA Investing LLC’s holdings in Novartis were worth $489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Legacy Investment Solutions LLC bought a new stake in Novartis during the 3rd quarter valued at about $28,000. Richardson Financial Services Inc. purchased a new position in shares of Novartis during the second quarter worth approximately $30,000. Fortitude Family Office LLC raised its stake in shares of Novartis by 503.8% during the third quarter. Fortitude Family Office LLC now owns 320 shares of the company’s stock valued at $37,000 after acquiring an additional 267 shares in the last quarter. Clean Yield Group bought a new stake in shares of Novartis during the third quarter valued at approximately $43,000. Finally, Chris Bulman Inc purchased a new stake in shares of Novartis in the second quarter valued at approximately $53,000. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Trading Up 0.5 %

NYSE:NVS opened at $97.64 on Monday. The stock has a market capitalization of $199.58 billion, a price-to-earnings ratio of 11.34, a PEG ratio of 1.49 and a beta of 0.57. Novartis AG has a 52 week low of $92.35 and a 52 week high of $120.92. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 0.55. The firm has a 50 day moving average of $102.70 and a 200 day moving average of $109.51.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $2.06 EPS for the quarter, beating the consensus estimate of $1.94 by $0.12. Novartis had a return on equity of 34.80% and a net margin of 35.96%. The firm had revenue of $12.82 billion during the quarter, compared to analyst estimates of $12.62 billion. During the same quarter in the prior year, the business posted $1.74 EPS. As a group, sell-side analysts anticipate that Novartis AG will post 7.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NVS has been the subject of a number of research analyst reports. BMO Capital Markets lifted 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. HSBC lowered shares of Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. Erste Group Bank reissued a “hold” rating on shares of Novartis in a research report on Tuesday, November 19th. Finally, Bank of America cut shares of Novartis from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $135.00 to $130.00 in a research report on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat, 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.