Keybank National Association OH cut its stake in shares of Novartis AG (NYSE:NVS) by 9.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,288 shares of the company’s stock after selling 6,115 shares during the quarter. Keybank National Association OH’s holdings in Novartis were worth $4,891,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of NVS. Asset Dedication LLC grew its holdings in shares of Novartis by 98.7% during the second quarter. Asset Dedication LLC now owns 304 shares of the company’s stock valued at $27,000 after purchasing an additional 151 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its position in shares of Novartis by 795.8% during the second quarter. Moneta Group Investment Advisors LLC now owns 2,750 shares of the company’s stock worth $27,000 after buying an additional 2,443 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in shares of Novartis by 330.4% during the third quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 340 shares of the company’s stock worth $30,000 after buying an additional 261 shares during the period. Vigilant Capital Management LLC acquired a new position in shares of Novartis during the second quarter worth approximately $37,000. Finally, Anderson Fisher LLC acquired a new position in shares of Novartis during the second quarter worth approximately $39,000. 11.19% of the stock is owned by institutional investors.
Several brokerages have recently issued reports on NVS. Kepler Capital Markets downgraded Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Argus boosted their price objective on Novartis to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. They noted that the move was a valuation call. Jefferies Financial Group reiterated a “buy” rating on shares of Novartis in a research report on Thursday, August 29th. Cowen reiterated a “buy” rating and set a $100.00 price objective on shares of Novartis in a research report on Friday, October 25th. Finally, Zacks Investment Research downgraded Novartis from a “buy” rating to a “hold” rating and set a $100.00 price objective for the company. in a research report on Friday, July 19th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $95.28.
NVS traded up $1.38 during trading on Friday, reaching $88.37. The stock had a trading volume of 1,366,856 shares, compared to its average volume of 2,204,612. The firm has a market capitalization of $199.13 billion, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 1.94 and a beta of 0.59. The company has a quick ratio of 0.73, a current ratio of 0.95 and a debt-to-equity ratio of 0.42. Novartis AG has a 1-year low of $72.19 and a 1-year high of $95.00. The stock has a 50 day moving average of $86.81 and a two-hundred day moving average of $87.75.
Novartis (NYSE:NVS) last released its earnings results on Tuesday, October 22nd. The company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.10. The firm had revenue of $12.17 billion during the quarter, compared to the consensus estimate of $11.67 billion. Novartis had a return on equity of 20.86% and a net margin of 24.43%. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.32 earnings per share. On average, research analysts forecast that Novartis AG will post 5.16 EPS for the current fiscal year.
Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.
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