Novartis AG (NYSE:NVS) Shares Sold by Camden National Bank

Camden National Bank trimmed its holdings in Novartis AG (NYSE:NVS) by 1.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 73,938 shares of the company’s stock after selling 1,444 shares during the period. Camden National Bank’s holdings in Novartis were worth $8,504,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in NVS. New Millennium Group LLC acquired a new position in shares of Novartis in the 2nd quarter valued at approximately $28,000. Lynx Investment Advisory acquired a new position in shares of Novartis in the 2nd quarter valued at approximately $29,000. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Novartis during the 2nd quarter valued at approximately $30,000. Richardson Financial Services Inc. acquired a new stake in shares of Novartis during the 2nd quarter valued at approximately $30,000. Finally, Beacon Capital Management LLC raised its position in shares of Novartis by 149.3% during the 1st quarter. Beacon Capital Management LLC now owns 354 shares of the company’s stock valued at $34,000 after acquiring an additional 212 shares in the last quarter. 13.12% of the stock is owned by institutional investors and hedge funds.

Novartis Price Performance

NYSE:NVS opened at $104.28 on Friday. The business’s 50-day moving average price is $111.87 and its 200 day moving average price is $110.05. The firm has a market cap of $213.15 billion, a P/E ratio of 12.11, a PEG ratio of 1.49 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 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 released 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. The firm had revenue of $12.82 billion for the quarter, compared to analyst estimates of $12.62 billion. Novartis had a return on equity of 34.80% and a net margin of 35.96%. During the same period in the previous year, the company earned $1.74 earnings per share. As a group, sell-side analysts predict that Novartis AG will post 7.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on NVS shares. BMO Capital Markets upped their price target on Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Bank of America lowered Novartis from a “buy” rating to a “neutral” rating and dropped their price target for the company from $135.00 to $130.00 in a research report on Wednesday, September 11th. The Goldman Sachs Group reissued a “neutral” rating and set a $121.00 price target (up from $119.00) on shares of Novartis in a research report on Thursday, September 5th. Jefferies Financial Group lowered Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of Novartis in a research report on Tuesday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Novartis currently has an average rating of “Hold” and an average price target 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.