Novartis AG $NVS Stock Position Cut by Investment House LLC

Investment House LLC lessened its holdings in Novartis AG (NYSE:NVS) by 32.7% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 53,956 shares of the company’s stock after selling 26,191 shares during the quarter. Investment House LLC’s holdings in Novartis were worth $7,693,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of NVS. Cardinal Capital Management boosted its stake in shares of Novartis by 1.8% during the third quarter. Cardinal Capital Management now owns 50,575 shares of the company’s stock valued at $7,210,000 after purchasing an additional 905 shares during the period. Strengthening Families & Communities LLC grew its holdings in shares of Novartis by 137.0% in the third quarter. Strengthening Families & Communities LLC now owns 237 shares of the company’s stock worth $34,000 after purchasing an additional 137 shares during the last quarter. City State Bank increased its stake in Novartis by 13.8% in the 3rd quarter. City State Bank now owns 974 shares of the company’s stock worth $139,000 after buying an additional 118 shares during the period. Quadrant Capital Group LLC increased its stake in Novartis by 0.9% in the 3rd quarter. Quadrant Capital Group LLC now owns 61,543 shares of the company’s stock worth $8,764,000 after buying an additional 543 shares during the period. Finally, Cohen Investment Advisors LLC increased its stake in Novartis by 2.6% in the 3rd quarter. Cohen Investment Advisors LLC now owns 3,646 shares of the company’s stock worth $520,000 after buying an additional 91 shares during the period. Institutional investors own 13.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NVS. Sanford C. Bernstein reaffirmed a “neutral” rating on shares of Novartis in a research note on Wednesday, July 22nd. Morgan Stanley restated an “overweight” rating and issued a $156.00 price target on shares of Novartis in a report on Tuesday, October 6th. JPMorgan Chase & Co. restated a “buy” rating on shares of Novartis in a research note on Sunday, August 9th. Royal Bank Of Canada assumed coverage on Novartis in a research report on Tuesday, September 8th. They set a “sector perform” rating on the stock. Finally, Berenberg Bank decreased their price target on Novartis from $147.00 to $130.00 and set a “hold” rating for the company in a research note on Friday, September 11th. Six research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Novartis presently has a consensus rating of “Hold” and an average target price of $145.60.

Novartis Stock Up 1.5%

NVS stock opened at $156.24 on Friday. The stock has a market capitalization of $298.13 billion, a PE ratio of 23.57, a price-to-earnings-growth ratio of 2.79 and a beta of 0.41. Novartis AG has a 52 week low of $121.57 and a 52 week high of $170.46. The company has a quick ratio of 0.67, a current ratio of 0.86 and a debt-to-equity ratio of 0.89. The firm has a 50 day moving average of $148.31 and a 200 day moving average of $150.46.

Novartis (NYSE:NVS) last issued its quarterly earnings results on Tuesday, June 30th. The company reported $2.41 earnings per share (EPS) for the quarter. The business had revenue of $14.95 billion for the quarter. Novartis had a net margin of 23.29% and a return on equity of 38.56%. Sell-side analysts forecast that Novartis AG will post 8.91 earnings per share for the current year.

Novartis Profile

Novartis AG is a Switzerland-based pharmaceutical company focused on the discovery, development and commercialization of innovative medicines. The company’s research and commercial activities span areas including cardiovascular, renal and metabolic diseases, immunology, neuroscience, oncology and hematology. Its portfolio includes prescription medicines such as Entresto, Cosentyx, Kisqali, Kesimpta, Leqvio, Pluvicto and Scemblix.

Novartis serves patients and healthcare providers in markets around the world.