Pathstone Holdings LLC Lowers Position in Novartis AG (NYSE:NVS)

Pathstone Holdings LLC lowered its stake in shares of Novartis AG (NYSE:NVS) by 23.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 103,150 shares of the company’s stock after selling 32,123 shares during the period. Pathstone Holdings LLC’s holdings in Novartis were worth $11,864,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New Millennium Group LLC acquired a new position in shares of Novartis during the 2nd quarter valued at $28,000. Lynx Investment Advisory acquired a new stake in shares of Novartis in the second quarter valued at about $29,000. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Novartis during the 2nd quarter valued at about $30,000. Richardson Financial Services Inc. acquired a new position in Novartis during the 2nd quarter worth approximately $30,000. Finally, Beacon Capital Management LLC grew its stake in shares of Novartis by 149.3% during the first quarter. Beacon Capital Management LLC now owns 354 shares of the company’s stock valued at $34,000 after acquiring an additional 212 shares in the last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Stock Down 0.2 %

Novartis stock opened at $103.09 on Thursday. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 0.55. The company has a fifty day simple moving average of $112.34 and a 200 day simple moving average of $110.05. The company has a market cap of $210.72 billion, a P/E ratio of 11.97, a price-to-earnings-growth ratio of 1.49 and a beta of 0.58. Novartis AG has a 1-year low of $92.35 and a 1-year high of $120.92.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.12. Novartis had a net margin of 35.96% and a return on equity of 34.80%. The business had revenue of $12.82 billion for the quarter, compared to analyst estimates of $12.62 billion. During the same quarter last year, the business posted $1.74 EPS. Research analysts anticipate that Novartis AG will post 7.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Jefferies Financial Group lowered shares of Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. Erste Group Bank reiterated a “hold” rating on shares of Novartis in a research report on Tuesday. The Goldman Sachs Group restated a “neutral” rating and issued a $121.00 price target (up previously from $119.00) on shares of Novartis in a research note on Thursday, September 5th. BMO Capital Markets increased their target price on shares of Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Finally, Bank of America downgraded Novartis from a “buy” rating to a “neutral” rating and cut their target price for the stock from $135.00 to $130.00 in a research report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $121.50.

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.