Headinvest LLC Sells 127 Shares of Novartis AG (NYSE:NVS)

Headinvest LLC lessened its stake in Novartis AG (NYSE:NVS) by 0.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,851 shares of the company’s stock after selling 127 shares during the period. Headinvest LLC’s holdings in Novartis were worth $2,053,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. New Millennium Group LLC bought a new stake in shares of Novartis during the second quarter valued at approximately $28,000. Industrial Alliance Investment Management Inc. purchased a new position in Novartis during the 2nd quarter worth $30,000. Richardson Financial Services Inc. bought a new stake in Novartis during the 2nd quarter valued at $30,000. Strategic Financial Concepts LLC purchased a new stake in shares of Novartis in the 2nd quarter worth $35,000. Finally, Fortitude Family Office LLC grew its position in shares of 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 in the last quarter. 13.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Erste Group Bank reiterated a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. Bank of America lowered shares of Novartis from a “buy” rating to a “neutral” rating and cut their price objective for the company from $135.00 to $130.00 in a report on Wednesday, September 11th. HSBC lowered Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday. BMO Capital Markets lifted their price target on Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group cut Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. Two investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $121.50.

Novartis Trading Down 0.5 %

Shares of Novartis stock opened at $101.99 on Friday. Novartis AG has a 12-month low of $92.35 and a 12-month high of $120.92. The firm’s 50 day simple moving average is $109.42 and its two-hundred day simple moving average is $110.24. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $208.47 billion, a price-to-earnings ratio of 11.85, a PEG ratio of 1.47 and a beta of 0.56.

Novartis (NYSE:NVS) last issued its earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. The company had revenue of $12.82 billion during the quarter, compared to analyst estimates of $12.62 billion. Novartis had a return on equity of 34.80% and a net margin of 35.96%. During the same quarter last year, the business posted $1.74 EPS. Analysts predict that Novartis AG will post 7.65 EPS for the current year.

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.