Novartis AG $NVS Shares Newly Purchased by NBT Bank N.A.

NBT Bank N.A. purchased a new position in Novartis AG (NYSE:NVS) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 26,937 shares of the company’s stock, valued at approximately $3,840,000.

Several other institutional investors also recently bought and sold shares of NVS. Bank of America Corp DE lifted its stake in shares of Novartis by 9.1% in the first quarter. Bank of America Corp DE now owns 4,962,794 shares of the company’s stock worth $758,067,000 after buying an additional 413,778 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Novartis by 0.8% during the second quarter. Envestnet Asset Management Inc. now owns 2,330,979 shares of the company’s stock valued at $365,308,000 after buying an additional 19,595 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Novartis by 1.9% during the first quarter. Janus Henderson Group PLC now owns 2,275,938 shares of the company’s stock valued at $347,649,000 after buying an additional 41,520 shares during the last quarter. WCM Investment Management LLC bought a new stake in shares of Novartis during the first quarter valued at approximately $220,004,000. Finally, Sei Investments Co. increased its position in shares of Novartis by 9.6% during the first quarter. Sei Investments Co. now owns 619,274 shares of the company’s stock valued at $94,594,000 after acquiring an additional 54,262 shares in the last quarter. 13.12% of the stock is owned by hedge funds and other institutional investors.

Novartis Stock Performance

Shares of NYSE NVS opened at $156.24 on Friday. The firm’s 50-day moving average price is $148.31 and its 200-day moving average price is $150.46. 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 company has a market cap of $298.13 billion, a PE ratio of 23.57, a PEG 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.

Novartis (NYSE:NVS) last announced its quarterly earnings results on Tuesday, June 30th. The company reported $2.41 EPS for the quarter. Novartis had a net margin of 23.29% and a return on equity of 38.56%. The firm had revenue of $14.95 billion during the quarter. As a group, analysts anticipate that Novartis AG will post 8.91 EPS for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on NVS. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Novartis in a research report on Thursday. Bank of America reissued a “buy” rating on shares of Novartis in a report on Tuesday, September 8th. Citigroup reissued a “buy” rating on shares of Novartis in a report on Wednesday, July 22nd. Morgan Stanley restated an “overweight” rating and issued a $156.00 price target on shares of Novartis in a research note on Tuesday, October 6th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating on shares of Novartis in a report on Monday, September 21st. Six research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $145.60.

About Novartis

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.