Novartis AG (NYSE:NVS) Shares Sold by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P decreased its position in shares of Novartis AG (NYSE:NVS - Free Report) by 3.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,769,638 shares of the company's stock after selling 175,745 shares during the period. Novartis makes up about 0.9% of Loomis Sayles & Co. L P's investment portfolio, making the stock its 26th largest position. Loomis Sayles & Co. L P owned 0.28% of Novartis worth $663,624,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Founders Financial Securities LLC raised its stake in shares of Novartis by 3.4% during the second quarter. Founders Financial Securities LLC now owns 2,832 shares of the company's stock valued at $301,000 after acquiring an additional 94 shares in the last quarter. Steigerwald Gordon & Koch Inc. increased its holdings in Novartis by 4.8% during the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 2,091 shares of the company's stock worth $241,000 after purchasing an additional 95 shares during the period. NBC Securities Inc. raised its position in Novartis by 0.9% during the 2nd quarter. NBC Securities Inc. now owns 10,492 shares of the company's stock valued at $1,116,000 after purchasing an additional 97 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Novartis by 5.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,013 shares of the company's stock valued at $196,000 after purchasing an additional 98 shares in the last quarter. Finally, Centaurus Financial Inc. lifted its holdings in shares of Novartis by 1.7% in the 3rd quarter. Centaurus Financial Inc. now owns 5,728 shares of the company's stock worth $659,000 after buying an additional 98 shares during the period. Hedge funds and other institutional investors own 13.12% of the company's stock.

Novartis Stock Down 0.7 %

Shares of NVS stock traded down $0.74 during trading hours on Monday, reaching $103.54. 1,298,527 shares of the company's stock were exchanged, compared to its average volume of 1,342,600. Novartis AG has a 1 year low of $92.35 and a 1 year high of $120.92. 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 stock has a market cap of $211.64 billion, a PE ratio of 12.11, a PEG ratio of 1.50 and a beta of 0.58. The stock's fifty day moving average price is $111.87 and its two-hundred day moving average price is $110.20.

Novartis (NYSE:NVS - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.94 by $0.12. The business had revenue of $12.82 billion during the quarter, compared to analysts' expectations of $12.62 billion. Novartis had a net margin of 35.96% and a return on equity of 34.80%. During the same quarter last year, the company posted $1.74 earnings per share. Research analysts predict that Novartis AG will post 7.66 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NVS. Jefferies Financial Group downgraded Novartis from a "buy" rating to a "hold" rating in a report on Tuesday, September 3rd. BMO Capital Markets boosted their price target on shares of Novartis from $118.00 to $120.00 and gave the company a "market perform" rating in a report on Wednesday, October 30th. Bank of America downgraded shares of Novartis from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $135.00 to $130.00 in a research note on Wednesday, September 11th. The Goldman Sachs Group reissued a "neutral" rating and set a $121.00 price objective (up from $119.00) on shares of Novartis in a report on Thursday, September 5th. Finally, Erste Group Bank restated a "hold" rating on shares of Novartis in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Novartis has an average rating of "Hold" and an average price target 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.