Summit Trail Advisors LLC Has $595,000 Stake in Novartis AG (NYSE:NVS)

Summit Trail Advisors LLC decreased its stake in shares of Novartis AG (NYSE:NVS) by 6.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 5,177 shares of the company’s stock after selling 376 shares during the quarter. Summit Trail Advisors LLC’s holdings in Novartis were worth $595,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. New Millennium Group LLC acquired a new position in Novartis in the 2nd quarter valued at approximately $28,000. Lynx Investment Advisory acquired a new position in shares of Novartis in the second quarter valued at $29,000. Industrial Alliance Investment Management Inc. acquired a new position in shares of Novartis in the second quarter valued at $30,000. Richardson Financial Services Inc. bought a new position in Novartis in the second quarter worth $30,000. Finally, Beacon Capital Management LLC boosted its stake in Novartis by 149.3% during the first quarter. Beacon Capital Management LLC now owns 354 shares of the company’s stock worth $34,000 after buying an additional 212 shares in the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Price Performance

Shares of NVS stock opened at $103.54 on Tuesday. Novartis AG has a 52 week low of $92.35 and a 52 week high of $120.92. The stock has a market capitalization of $211.64 billion, a PE ratio of 12.03, a PEG ratio of 1.50 and a beta of 0.58. 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 stock’s fifty day moving average is $111.60 and its 200-day moving average is $110.22.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. Novartis had a net margin of 35.96% and a return on equity of 34.80%. The firm had revenue of $12.82 billion for the quarter, compared to analyst estimates of $12.62 billion. During the same quarter in the prior year, the firm earned $1.74 EPS. Equities research analysts expect that Novartis AG will post 7.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on NVS shares. Bank of America cut shares of Novartis from a “buy” rating to a “neutral” rating and lowered their target price for the company from $135.00 to $130.00 in a research note on Wednesday, September 11th. BMO Capital Markets increased their target price on Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Jefferies Financial Group lowered Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. The Goldman Sachs Group reiterated a “neutral” rating and issued a $121.00 price target (up from $119.00) on shares of Novartis in a research report on Thursday, September 5th. Finally, Erste Group Bank restated a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $121.50.

Novartis Company 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.