Novartis AG (NYSE:NVS) Shares Sold by Bleakley Financial Group LLC

Bleakley Financial Group LLC lessened its position in shares of Novartis AG (NYSE:NVS - Free Report) by 12.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 51,136 shares of the company's stock after selling 7,585 shares during the quarter. Bleakley Financial Group LLC's holdings in Novartis were worth $5,882,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NVS. Private Ocean LLC acquired a new stake in Novartis in the 1st quarter valued at $25,000. New Millennium Group LLC acquired a new position in shares of Novartis during the 2nd quarter worth about $28,000. Clearstead Trust LLC raised its position in shares of Novartis by 73.5% during the 1st quarter. Clearstead Trust LLC now owns 269 shares of the company's stock worth $26,000 after purchasing an additional 114 shares during the last quarter. Lynx Investment Advisory acquired a new stake in Novartis in the 2nd quarter worth about $29,000. Finally, Industrial Alliance Investment Management Inc. acquired a new stake in Novartis in the 2nd quarter worth about $30,000. Hedge funds and other institutional investors own 13.12% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on NVS. Bank of America downgraded Novartis from a "buy" rating to a "neutral" rating and decreased their target price for the company from $135.00 to $130.00 in a research report on Wednesday, September 11th. Jefferies Financial Group cut shares of Novartis from a "buy" rating to a "hold" rating in a research note on Tuesday, September 3rd. The Goldman Sachs Group reiterated a "neutral" rating and issued a $121.00 target price (up from $119.00) on shares of Novartis in a research report on Thursday, September 5th. Barclays upgraded shares of Novartis to a "strong sell" rating in a research report on Monday, June 24th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Novartis in a report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $120.70.

Novartis Trading Up 0.4 %

Novartis stock traded up $0.47 during mid-day trading on Friday, hitting $116.98. The company's stock had a trading volume of 315,787 shares, compared to its average volume of 1,342,936. The stock's fifty day moving average is $116.20 and its two-hundred day moving average is $107.75. The company has a current ratio of 0.93, a quick ratio of 0.72 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $239.11 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 1.73 and a beta of 0.57. Novartis AG has a 1 year low of $92.19 and a 1 year high of $120.92.

Novartis (NYSE:NVS - Get Free Report) last released its quarterly earnings results on Thursday, July 18th. The company reported $1.97 earnings per share for the quarter, topping analysts' consensus estimates of $1.87 by $0.10. The business had revenue of $12.87 billion during the quarter, compared to analysts' expectations of $12.24 billion. Novartis had a return on equity of 34.56% and a net margin of 33.76%. During the same period in the prior year, the business posted $1.83 EPS. On average, analysts anticipate that Novartis AG will post 7.52 EPS for the current year.

Novartis 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.