Euro Pacific Asset Management LLC Cuts Position in Novartis AG (NYSE:NVS)

Euro Pacific Asset Management LLC decreased its holdings in Novartis AG (NYSE:NVS) by 1.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 97,224 shares of the company’s stock after selling 1,185 shares during the quarter. Novartis accounts for about 2.0% of Euro Pacific Asset Management LLC’s holdings, making the stock its 22nd largest holding. Euro Pacific Asset Management LLC’s holdings in Novartis were worth $11,156,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of NVS. Clearstead Trust LLC lifted its position in shares of Novartis by 73.5% during the 1st quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock valued at $26,000 after buying an additional 114 shares in the last quarter. New Millennium Group LLC acquired a new stake in shares of Novartis in the second quarter valued at about $28,000. Lynx Investment Advisory acquired a new position in shares of Novartis during the 2nd quarter worth about $29,000. Industrial Alliance Investment Management Inc. purchased a new position in Novartis in the 2nd quarter valued at about $30,000. Finally, Richardson Financial Services Inc. acquired a new stake in Novartis in the 2nd quarter worth about $30,000. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Stock Down 0.3 %

NYSE NVS opened at $103.06 on Friday. Novartis AG has a 52 week low of $92.35 and a 52 week high of $120.92. The firm has a market cap of $210.65 billion, a PE ratio of 11.97, a P/E/G ratio of 1.50 and a beta of 0.58. The business’s fifty day simple moving average is $113.14 and its 200-day simple moving average is $109.84. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 0.55.

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. The company had revenue of $12.82 billion for the quarter, compared to analyst estimates of $12.62 billion. Novartis had a net margin of 35.96% and a return on equity of 34.80%. During the same period in the previous year, the business posted $1.74 EPS. As a group, equities analysts anticipate that Novartis AG will post 7.63 earnings per share for the current year.

Analyst Ratings Changes

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