Private Ocean LLC Decreases Holdings in Novartis AG (NYSE:NVS)

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Private Ocean LLC trimmed its stake in shares of Novartis AG (NYSE:NVS) by 15.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,200 shares of the company’s stock after selling 225 shares during the quarter. Private Ocean LLC’s holdings in Novartis were worth $105,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Elefante Mark B lifted its holdings in Novartis by 3.6% during the second quarter. Elefante Mark B now owns 8,744 shares of the company’s stock valued at $799,000 after purchasing an additional 300 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in shares of Novartis by 16.3% in the second quarter. BNP Paribas Arbitrage SA now owns 1,566 shares of the company’s stock worth $143,000 after buying an additional 220 shares in the last quarter. Capital Advisors Ltd. LLC lifted its stake in shares of Novartis by 119.0% in the second quarter. Capital Advisors Ltd. LLC now owns 1,084 shares of the company’s stock worth $99,000 after buying an additional 589 shares in the last quarter. Bangor Savings Bank purchased a new position in shares of Novartis in the third quarter worth about $212,000. Finally, Penbrook Management LLC lifted its stake in shares of Novartis by 18.2% in the second quarter. Penbrook Management LLC now owns 6,500 shares of the company’s stock worth $594,000 after buying an additional 1,000 shares in the last quarter. 11.19% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Novartis from a “buy” rating to a “hold” rating and set a $100.00 price target on the stock. in a research note on Friday, July 19th. Cowen reaffirmed a “buy” rating and set a $100.00 target price on shares of Novartis in a research note on Friday, October 25th. ValuEngine raised shares of Novartis from a “sell” rating to a “hold” rating in a research note on Saturday, October 19th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Novartis in a research note on Thursday, August 29th. Finally, Argus lifted their target price on shares of Novartis to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. They noted that the move was a valuation call. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $95.28.

NVS stock traded up $1.38 during trading on Friday, reaching $88.37. 1,366,856 shares of the stock were exchanged, compared to its average volume of 2,204,612. Novartis AG has a 1 year low of $72.19 and a 1 year high of $95.00. The firm has a market capitalization of $199.13 billion, a price-to-earnings ratio of 17.36, a P/E/G ratio of 1.94 and a beta of 0.59. The business has a 50 day moving average price of $86.81 and a 200-day moving average price of $87.75. The company has a current ratio of 0.95, a quick ratio of 0.73 and a debt-to-equity ratio of 0.42.

Novartis (NYSE:NVS) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.10. Novartis had a net margin of 24.43% and a return on equity of 20.86%. The business had revenue of $12.17 billion during the quarter, compared to analysts’ expectations of $11.67 billion. During the same period last year, the business earned $1.32 earnings per share. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, research analysts anticipate that Novartis AG will post 5.16 EPS for the current year.

Novartis Profile

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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