SevenBridge Financial Group LLC Trims Holdings in Novartis AG (NYSE:NVS)

SevenBridge Financial Group LLC decreased its position in shares of Novartis AG (NYSE:NVS) by 2.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,043 shares of the company’s stock after selling 330 shares during the quarter. SevenBridge Financial Group LLC’s holdings in Novartis were worth $1,484,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of NVS. New Millennium Group LLC acquired a new stake in Novartis during the 2nd quarter valued at approximately $28,000. Lynx Investment Advisory acquired a new position in Novartis during the second quarter valued at $29,000. Industrial Alliance Investment Management Inc. acquired a new position in Novartis during the second quarter valued at $30,000. Richardson Financial Services Inc. purchased a new stake in Novartis in the second quarter valued at $30,000. Finally, Fortitude Family Office LLC grew its position in Novartis by 503.8% during the 3rd quarter. Fortitude Family Office LLC now owns 320 shares of the company’s stock worth $37,000 after purchasing an additional 267 shares during the period. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Price Performance

Novartis stock opened at $104.28 on Friday. The stock has a market capitalization of $213.15 billion, a P/E ratio of 12.11, a P/E/G ratio of 1.49 and a beta of 0.58. The company’s fifty day moving average price is $111.87 and its 200 day moving average price is $110.12. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.90 and a current ratio of 1.11. Novartis AG has a 1 year low of $92.35 and a 1 year high of $120.92.

Novartis (NYSE:NVS) last announced its earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share (EPS) 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 business had revenue of $12.82 billion for the quarter, compared to analyst estimates of $12.62 billion. During the same quarter last year, the business earned $1.74 earnings per share. As a group, equities research analysts anticipate that Novartis AG will post 7.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Erste Group Bank reissued a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. Jefferies Financial Group downgraded Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. Bank of America cut shares of 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 research note on Wednesday, September 11th. BMO Capital Markets lifted their target price on shares of Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Finally, 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 report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Novartis has an average rating of “Hold” and a consensus target price of $121.50.

Novartis 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.