Novartis AG $NVS Shares Sold by MGO One Seven LLC

MGO One Seven LLC decreased its position in Novartis AG (NYSE:NVS) by 50.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 12,758 shares of the company’s stock after selling 12,802 shares during the quarter. MGO One Seven LLC’s holdings in Novartis were worth $1,819,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of NVS. CPC Advisors LLC boosted its position in Novartis by 4.6% during the 2nd quarter. CPC Advisors LLC now owns 1,516 shares of the company’s stock worth $238,000 after acquiring an additional 66 shares during the last quarter. Canopy Partners LLC lifted its position in shares of Novartis by 1.9% in the third quarter. Canopy Partners LLC now owns 3,525 shares of the company’s stock worth $503,000 after purchasing an additional 67 shares in the last quarter. Busey Bank lifted its position in shares of Novartis by 2.8% in the third quarter. Busey Bank now owns 2,521 shares of the company’s stock worth $359,000 after purchasing an additional 69 shares in the last quarter. Moody National Bank Trust Division lifted its position in shares of Novartis by 4.2% in the second quarter. Moody National Bank Trust Division now owns 1,802 shares of the company’s stock worth $282,000 after purchasing an additional 72 shares in the last quarter. Finally, PFG Investments LLC boosted its holdings in Novartis by 1.8% during the second quarter. PFG Investments LLC now owns 4,173 shares of the company’s stock worth $654,000 after purchasing an additional 72 shares during the last quarter. Institutional investors own 13.12% of the company’s stock.

Wall Street Analysts Forecast Growth

NVS has been the subject of a number of analyst reports. The Goldman Sachs Group reaffirmed a “sell” rating on shares of Novartis in a research report on Monday, September 21st. UBS Group reissued a “neutral” rating on shares of Novartis in a research report on Wednesday, October 28th. JPMorgan Chase & Co. restated a “buy” rating on shares of Novartis in a research note on Sunday, August 9th. DZ Bank initiated coverage on Novartis in a report on Wednesday, October 28th. They issued a “hold” rating for the company. Finally, Bank of America restated a “buy” rating on shares of Novartis in a report on Tuesday, September 8th. Six equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Novartis presently has an average rating of “Hold” and a consensus price target of $152.25.

Novartis Price Performance

NYSE:NVS opened at $164.98 on Thursday. The company has a quick ratio of 0.70, a current ratio of 0.88 and a debt-to-equity ratio of 0.98. The stock’s 50 day moving average price is $148.58 and its two-hundred day moving average price is $152.07. The firm has a market capitalization of $314.81 billion, a price-to-earnings ratio of 31.49, a P/E/G ratio of 2.93 and a beta of 0.40. Novartis AG has a 12-month low of $123.24 and a 12-month high of $170.46.

Novartis (NYSE:NVS) last released its quarterly earnings data on Tuesday, October 27th. The company reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.25 by $0.21. Novartis had a return on equity of 41.04% and a net margin of 18.11%. The company had revenue of $15.03 billion during the quarter, compared to analysts’ expectations of $14.53 billion. During the same period last year, the firm posted $2.25 earnings per share. The business’s revenue was up 4.4% on a year-over-year basis. On average, analysts anticipate that Novartis AG will post 9.04 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.