OneDigital Investment Advisors LLC Has $1.17 Million Position in Novartis AG (NYSE:NVS)

OneDigital Investment Advisors LLC lessened its stake in shares of Novartis AG (NYSE:NVS) by 8.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,149 shares of the company’s stock after selling 991 shares during the period. OneDigital Investment Advisors LLC’s holdings in Novartis were worth $1,167,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. New Millennium Group LLC acquired a new position in Novartis during the 2nd quarter worth $28,000. Lynx Investment Advisory bought a new stake in Novartis during the 2nd quarter valued at approximately $29,000. Industrial Alliance Investment Management Inc. acquired a new stake in Novartis in the 2nd quarter valued at approximately $30,000. Richardson Financial Services Inc. bought a new position in Novartis in the 2nd quarter worth approximately $30,000. Finally, Fortitude Family Office LLC lifted its holdings in shares of Novartis by 503.8% during the third quarter. Fortitude Family Office LLC now owns 320 shares of the company’s stock worth $37,000 after buying an additional 267 shares during the last quarter. Institutional investors own 13.12% of the company’s stock.

Wall Street Analyst Weigh In

NVS has been the topic of several research analyst reports. BMO Capital Markets raised their price objective on shares of Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Bank of America cut shares of Novartis from a “buy” rating to a “neutral” rating and reduced their target price for the company from $135.00 to $130.00 in a research note on Wednesday, September 11th. The Goldman Sachs Group restated a “neutral” rating and set a $121.00 price target (up from $119.00) on shares of Novartis in a research note on Thursday, September 5th. Finally, Jefferies Financial Group downgraded Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Novartis presently has an average rating of “Hold” and an average price target of $121.50.

Novartis Price Performance

Shares of NVS opened at $103.06 on Tuesday. 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’s fifty day simple moving average is $112.86 and its 200 day simple moving average is $110.05. Novartis AG has a 1-year low of $92.35 and a 1-year high of $120.92. The company has a market cap of $210.65 billion, a price-to-earnings ratio of 11.97, a PEG ratio of 1.49 and a beta of 0.58.

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

About Novartis

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.