Proficio Capital Partners LLC Buys Shares of 2,312 Novartis AG (NYSE:NVS)

Proficio Capital Partners LLC purchased a new position in shares of Novartis AG (NYSE:NVS) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,312 shares of the company’s stock, valued at approximately $225,000.

Other hedge funds have also made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new position in Novartis during the 3rd quarter worth $28,000. Human Investing LLC acquired a new position in shares of Novartis during the 4th quarter worth about $25,000. Union Bancaire Privee UBP SA bought a new stake in Novartis during the 4th quarter valued at approximately $27,000. Kestra Investment Management LLC acquired a new stake in Novartis in the 4th quarter valued at approximately $47,000. Finally, Brooklyn Investment Group bought a new position in Novartis in the 4th quarter worth approximately $55,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Stock Performance

NYSE:NVS opened at $111.46 on Friday. The firm has a market capitalization of $227.82 billion, a PE ratio of 18.96, a price-to-earnings-growth ratio of 1.70 and a beta of 0.53. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.48. Novartis AG has a 12-month low of $92.35 and a 12-month high of $120.92. The firm has a 50-day moving average price of $107.62 and a 200 day moving average price of $107.29.

Novartis (NYSE:NVS) last issued its earnings results on Friday, January 31st. The company reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.80 by $0.18. Novartis had a return on equity of 37.24% and a net margin of 23.56%. Research analysts anticipate that Novartis AG will post 8.45 earnings per share for the current fiscal year.

Novartis Announces Dividend

The company also recently announced a dividend, which was paid on Wednesday, March 12th. Stockholders of record on Wednesday, March 12th were issued a $3.8695 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. Novartis’s payout ratio is 42.69%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised Novartis from a “hold” rating to a “buy” rating in a research report on Tuesday, February 4th. StockNews.com upgraded shares of Novartis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 8th. Morgan Stanley began coverage on shares of Novartis in a research report on Wednesday, February 12th. They set an “underweight” rating for the company. HSBC downgraded Novartis from a “hold” rating to a “reduce” rating in a research report on Wednesday, December 4th. Finally, UBS Group reaffirmed a “neutral” rating on shares of Novartis in a report on Thursday, February 13th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.