Yellowstone Partners LLC Invests $584,000 in Novartis AG (NVS)

Yellowstone Partners LLC purchased a new position in Novartis AG (NYSE:NVS) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 6,798 shares of the company’s stock, valued at approximately $584,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. WFG Advisors LP lifted its position in shares of Novartis by 38.1% during the 2nd quarter. WFG Advisors LP now owns 1,221 shares of the company’s stock valued at $102,000 after acquiring an additional 337 shares during the period. Wealthcare Advisory Partners LLC acquired a new position in shares of Novartis during the 3rd quarter valued at $106,000. Cable Hill Partners LLC lifted its position in shares of Novartis by 588.8% during the 3rd quarter. Cable Hill Partners LLC now owns 1,295 shares of the company’s stock valued at $112,000 after acquiring an additional 1,107 shares during the period. Harding Loevner LP acquired a new position in shares of Novartis during the 2nd quarter valued at $146,000. Finally, Mosaic Family Wealth LLC lifted its position in shares of Novartis by 6.1% during the 2nd quarter. Mosaic Family Wealth LLC now owns 2,144 shares of the company’s stock valued at $179,000 after acquiring an additional 123 shares during the period. Hedge funds and other institutional investors own 10.87% of the company’s stock.

Novartis AG (NYSE NVS) traded up $0.66 on Wednesday, reaching $84.46. 980,700 shares of the company’s stock traded hands, compared to its average volume of 2,253,904. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.81 and a current ratio of 1.08. Novartis AG has a 1 year low of $69.53 and a 1 year high of $86.90. The firm has a market capitalization of $198,236.86, a P/E ratio of 17.64, a price-to-earnings-growth ratio of 2.66 and a beta of 0.73.

Novartis (NYSE:NVS) last released its quarterly earnings data on Tuesday, October 24th. The company reported $1.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.04. Novartis had a net margin of 13.73% and a return on equity of 15.77%. The firm had revenue of $12.41 billion for the quarter, compared to the consensus estimate of $12.21 billion. During the same quarter in the prior year, the company posted $1.23 earnings per share. The business’s revenue was up 2.4% on a year-over-year basis. analysts forecast that Novartis AG will post 4.75 earnings per share for the current year.

A number of research analysts recently issued reports on NVS shares. BidaskClub upgraded shares of Novartis from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. J P Morgan Chase & Co restated a “neutral” rating on shares of Novartis in a report on Tuesday, August 29th. Zacks Investment Research upgraded shares of Novartis from a “hold” rating to a “buy” rating and set a $96.00 price objective on the stock in a report on Tuesday, September 19th. Leerink Swann upped their price objective on shares of Novartis from $89.00 to $91.00 and gave the stock a “market perform” rating in a report on Monday, October 23rd. Finally, Barclays downgraded shares of Novartis from an “equal weight” rating to an “underweight” rating in a report on Wednesday, October 25th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $85.32.

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About Novartis

Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.

Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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