Eldred Rock Partners LLC Has $5.90 Million Stock Holdings in Novartis AG (NYSE:NVS)

Eldred Rock Partners LLC lifted its position in shares of Novartis AG (NYSE:NVS) by 0.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 60,651 shares of the company’s stock after acquiring an additional 108 shares during the quarter. Novartis makes up about 2.0% of Eldred Rock Partners LLC’s investment portfolio, making the stock its 26th largest position. Eldred Rock Partners LLC’s holdings in Novartis were worth $5,902,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Hsbc Holdings PLC bought a new position in Novartis in the second quarter valued at approximately $22,979,000. Brighton Jones LLC boosted its position in shares of Novartis by 10.1% in the 2nd quarter. Brighton Jones LLC now owns 5,399 shares of the company’s stock worth $575,000 after purchasing an additional 495 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of Novartis by 3.7% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 6,559 shares of the company’s stock worth $698,000 after purchasing an additional 232 shares during the period. Canada Pension Plan Investment Board bought a new stake in Novartis in the second quarter valued at about $64,610,000. Finally, King Luther Capital Management Corp lifted its stake in Novartis by 5.0% in the second quarter. King Luther Capital Management Corp now owns 9,523 shares of the company’s stock valued at $1,014,000 after buying an additional 456 shares during the period. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Stock Performance

Shares of NVS opened at $97.51 on Monday. The firm has a market cap of $199.30 billion, a P/E ratio of 11.32, a PEG ratio of 1.36 and a beta of 0.57. Novartis AG has a twelve month low of $92.35 and a twelve month high of $120.92. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.90 and a current ratio of 1.11. The firm’s 50 day moving average price is $100.61 and its two-hundred day moving average price is $109.01.

Novartis (NYSE:NVS) last announced its earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. The firm had revenue of $12.82 billion during the quarter, compared to analyst estimates of $12.62 billion. Novartis had a net margin of 35.96% and a return on equity of 34.80%. During the same period in the prior year, the business earned $1.74 EPS. On average, analysts forecast that Novartis AG will post 7.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Erste Group Bank restated a “hold” rating on shares of Novartis in a research report on Tuesday, November 19th. HSBC downgraded shares of Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. Finally, BMO Capital Markets lifted their price target on shares of Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat.com, Novartis has an average rating of “Hold” and an average target price of $121.50.

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.