Rossby Financial LCC Has $322,000 Holdings in Novartis AG $NVS

Rossby Financial LCC raised its stake in Novartis AG (NYSE:NVS) by 3.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,664 shares of the company’s stock after acquiring an additional 99 shares during the quarter. Rossby Financial LCC’s holdings in Novartis were worth $322,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVS. Brighton Jones LLC increased its position in Novartis by 76.5% in the 4th quarter. Brighton Jones LLC now owns 6,153 shares of the company’s stock valued at $599,000 after acquiring an additional 2,666 shares in the last quarter. GAMMA Investing LLC increased its position in Novartis by 29.9% in the 1st quarter. GAMMA Investing LLC now owns 6,524 shares of the company’s stock valued at $727,000 after acquiring an additional 1,500 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Novartis by 14.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 112,469 shares of the company’s stock valued at $12,328,000 after acquiring an additional 14,057 shares in the last quarter. Essex Financial Services Inc. increased its position in Novartis by 2.4% in the 1st quarter. Essex Financial Services Inc. now owns 7,208 shares of the company’s stock valued at $804,000 after acquiring an additional 171 shares in the last quarter. Finally, MorganRosel Wealth Management LLC acquired a new stake in shares of Novartis during the 1st quarter worth approximately $75,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Stock Down 4.5%

Shares of NYSE:NVS opened at $123.37 on Wednesday. The company has a 50 day moving average price of $127.63 and a two-hundred day moving average price of $119.91. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.62 and a current ratio of 0.82. The company has a market capitalization of $260.62 billion, a PE ratio of 17.96, a PEG ratio of 1.81 and a beta of 0.64. Novartis AG has a 52 week low of $96.06 and a 52 week high of $133.55.

Novartis (NYSE:NVS) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.26 by ($0.01). Novartis had a net margin of 25.64% and a return on equity of 41.08%. The firm had revenue of $13.91 billion during the quarter, compared to analyst estimates of $13.70 billion. During the same period last year, the firm earned $2.06 EPS. Novartis’s quarterly revenue was up 8.5% on a year-over-year basis. Analysts forecast that Novartis AG will post 8.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. HC Wainwright cut shares of Novartis to a “neutral” rating in a research report on Monday. Wall Street Zen upgraded shares of Novartis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Jefferies Financial Group reiterated a “hold” rating on shares of Novartis in a research report on Monday. The Goldman Sachs Group reiterated a “sell” rating and set a $118.00 price target (down previously from $119.00) on shares of Novartis in a research report on Friday, September 12th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Novartis in a research report on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $120.33.

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.