Novartis AG (NYSE:NVS) Shares Sold by Armor Investment Advisors LLC

Armor Investment Advisors LLC cut its holdings in shares of Novartis AG (NYSE:NVS) by 4.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,878 shares of the company’s stock after selling 141 shares during the period. Armor Investment Advisors LLC’s holdings in Novartis were worth $331,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. New Millennium Group LLC purchased a new stake in shares of Novartis during the second quarter valued at $28,000. Clearstead Trust LLC raised its position in shares of Novartis by 73.5% in the first quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock worth $26,000 after acquiring an additional 114 shares during the period. Lynx Investment Advisory purchased a new stake in shares of Novartis during the 2nd quarter worth about $29,000. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Novartis during the 2nd quarter valued at about $30,000. Finally, Richardson Financial Services Inc. purchased a new position in shares of Novartis in the 2nd quarter valued at about $30,000. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Trading Down 1.6 %

Shares of NVS stock opened at $107.64 on Wednesday. The company has a 50-day moving average of $115.37 and a two-hundred day moving average of $109.57. The firm has a market cap of $220.02 billion, a PE ratio of 12.71, a price-to-earnings-growth ratio of 1.61 and a beta of 0.58. Novartis AG has a 1-year low of $92.35 and a 1-year high of $120.92. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.11 and a quick ratio of 0.90.

Novartis (NYSE:NVS) last posted its earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $12.62 billion. During the same quarter last year, the firm earned $1.74 EPS. On average, analysts predict that Novartis AG will post 7.56 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Novartis in a research note on Friday, July 19th. Bank of America downgraded shares of Novartis from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $135.00 to $130.00 in a research note on Wednesday, September 11th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $121.00 price target (up previously from $119.00) on shares of Novartis in a report on Thursday, September 5th. BMO Capital Markets raised their target price on Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group lowered shares of Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a strong buy rating to the stock. According to MarketBeat, Novartis has a consensus rating of “Hold” and an average price target 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.