Novartis AG (NYSE:NVS) Shares Sold by Pitcairn Co.

Pitcairn Co. cut its position in shares of Novartis AG (NYSE:NVS) by 7.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,295 shares of the company’s stock after selling 703 shares during the quarter. Pitcairn Co.’s holdings in Novartis were worth $1,069,000 as of its most recent filing with the SEC.

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

Novartis Price Performance

NVS opened at $104.28 on Monday. Novartis AG has a 1 year low of $92.35 and a 1 year high of $120.92. The company’s 50 day simple moving average is $111.87 and its 200 day simple moving average is $110.20. The stock has a market capitalization of $213.15 billion, a PE ratio of 12.11, a P/E/G ratio of 1.50 and a beta of 0.58. 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 (NYSE:NVS) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter last year, the business earned $1.74 EPS. As a group, sell-side analysts expect that Novartis AG will post 7.66 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. BMO Capital Markets increased their target price on Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Jefferies Financial Group cut Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd. Bank of America lowered shares of Novartis from a “buy” rating to a “neutral” rating and reduced their target price for the company from $135.00 to $130.00 in a report on Wednesday, September 11th. The Goldman Sachs Group reiterated 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. Finally, Erste Group Bank restated a “hold” rating on shares of Novartis in a research report on Tuesday, November 19th. One 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. According to MarketBeat.com, Novartis presently 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.