12,237 Shares in Novartis AG (NYSE:NVS) Purchased by Kentucky Trust Co

Kentucky Trust Co bought a new position in shares of Novartis AG (NYSE:NVS) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 12,237 shares of the company’s stock, valued at approximately $1,191,000.

Other hedge funds have also recently bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new position in Novartis during the third quarter worth about $28,000. Union Bancaire Privee UBP SA acquired a new stake in Novartis during the 4th quarter worth about $27,000. Fortitude Family Office LLC raised its holdings in Novartis by 503.8% during the 3rd quarter. Fortitude Family Office LLC now owns 320 shares of the company’s stock worth $37,000 after buying an additional 267 shares during the period. Brooklyn Investment Group acquired a new stake in Novartis during the 4th quarter worth about $55,000. Finally, Beaird Harris Wealth Management LLC raised its holdings in Novartis by 280.5% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 704 shares of the company’s stock worth $81,000 after buying an additional 519 shares during the period. 13.12% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NVS has been the topic of several recent analyst reports. Erste Group Bank restated a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. StockNews.com upgraded Novartis from a “buy” rating to a “strong-buy” rating in a report on Saturday. Deutsche Bank Aktiengesellschaft upgraded Novartis from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. BMO Capital Markets boosted their price objective on Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Finally, HSBC downgraded Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday, December 4th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $123.38.

Novartis Price Performance

Shares of NVS opened at $107.73 on Wednesday. The company has a market capitalization of $220.20 billion, a price-to-earnings ratio of 18.32, a P/E/G ratio of 1.70 and a beta of 0.58. Novartis AG has a fifty-two week low of $92.35 and a fifty-two week high of $120.92. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.04 and a quick ratio of 0.90. The business’s 50-day moving average is $100.36 and its 200-day moving average is $108.37.

Novartis (NYSE:NVS) last announced its quarterly earnings results on Friday, January 31st. The company reported $1.98 EPS for the quarter, beating the consensus estimate of $1.80 by $0.18. Novartis had a return on equity of 37.24% and a net margin of 23.56%. Equities research analysts expect that Novartis AG will post 8.42 EPS for the current fiscal year.

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.