Main Street Financial Solutions LLC Boosts Stock Position in Novartis AG (NYSE:NVS)

Main Street Financial Solutions LLC grew its position in Novartis AG (NYSE:NVS) by 62.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,420 shares of the company’s stock after acquiring an additional 1,703 shares during the period. Main Street Financial Solutions LLC’s holdings in Novartis were worth $508,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. New Millennium Group LLC acquired a new stake in Novartis in the 2nd quarter valued at about $28,000. Clearstead Trust LLC boosted its holdings in shares of Novartis by 73.5% in the 1st quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock valued at $26,000 after purchasing an additional 114 shares during the last quarter. Lynx Investment Advisory purchased a new stake in Novartis during the second quarter valued at about $29,000. Industrial Alliance Investment Management Inc. acquired a new stake in Novartis during the 2nd quarter worth approximately $30,000. Finally, Richardson Financial Services Inc. acquired a new stake in shares of Novartis in the second quarter worth $30,000. 13.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on NVS shares. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $121.00 price objective (up previously from $119.00) on shares of Novartis in a research report on Thursday, September 5th. BMO Capital Markets raised their target price on Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Novartis in a research note on Friday, July 19th. Jefferies Financial Group lowered Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. Finally, Bank of America downgraded Novartis from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $135.00 to $130.00 in a report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Novartis currently has an average rating of “Hold” and a consensus target price of $121.50.

Novartis Trading Down 0.4 %

NYSE:NVS opened at $103.41 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 0.55. The company has a market cap of $211.37 billion, a PE ratio of 12.01, a P/E/G ratio of 1.50 and a beta of 0.58. Novartis AG has a 52 week low of $92.35 and a 52 week high of $120.92. The business’s 50 day moving average is $113.67 and its two-hundred day moving average is $109.84.

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. 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 analysts’ expectations of $12.62 billion. During the same quarter last year, the company posted $1.74 earnings per share. On average, analysts predict that Novartis AG will post 7.63 EPS for the current year.

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.