Novartis AG $NVS Shares Sold by Country Club Bank

Country Club Bank lowered its position in shares of Novartis AG (NYSE:NVS) by 14.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,697 shares of the company’s stock after selling 8,402 shares during the period. Country Club Bank’s holdings in Novartis were worth $6,416,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. WPG Advisers LLC purchased a new position in Novartis in the first quarter worth approximately $25,000. GFG Capital LLC purchased a new stake in Novartis in the second quarter valued at $26,000. Legacy Investment Solutions LLC acquired a new position in shares of Novartis in the 2nd quarter valued at $30,000. Barrett & Company Inc. acquired a new stake in shares of Novartis during the 2nd quarter worth about $31,000. Finally, MCF Advisors LLC raised its holdings in Novartis by 66.0% in the 2nd quarter. MCF Advisors LLC now owns 264 shares of the company’s stock valued at $32,000 after buying an additional 105 shares during the period. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Trading Down 0.0%

Shares of NVS stock opened at $135.00 on Thursday. Novartis AG has a fifty-two week low of $96.06 and a fifty-two week high of $137.40. The company has a 50 day moving average price of $129.58 and a 200 day moving average price of $124.52. The stock has a market capitalization of $285.18 billion, a P/E ratio of 18.44, a price-to-earnings-growth ratio of 1.91 and a beta of 0.52. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.68 and a current ratio of 0.88.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $2.25 EPS for the quarter, missing the consensus estimate of $2.26 by ($0.01). Novartis had a return on equity of 41.21% and a net margin of 26.49%.The business had revenue of $14.36 billion during the quarter, compared to analyst estimates of $13.70 billion. During the same quarter last year, the firm earned $2.06 EPS. The business’s revenue was up 8.5% on a year-over-year basis. Equities research analysts predict that Novartis AG will post 8.45 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Bank of America raised shares of Novartis from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 25th. Cfra set a $126.00 price objective on shares of Novartis and gave the stock a “hold” rating in a report on Wednesday, October 29th. JPMorgan Chase & Co. upgraded shares of Novartis from a “neutral” rating to an “overweight” rating in a report on Monday, December 8th. HC Wainwright lowered Novartis to a “neutral” rating in a research report on Monday, October 27th. Finally, Cfra Research upgraded Novartis to a “hold” rating in a research report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Novartis presently has an average rating of “Hold” and an average price target of $119.75.

Novartis Company 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.