Novartis AG (NYSE:NVS) Shares Purchased by Main Street Financial Solutions LLC

Main Street Financial Solutions LLC grew its holdings in shares of Novartis AG (NYSE:NVS) by 62.7% in the third quarter, HoldingsChannel reports. The fund owned 4,420 shares of the company’s stock after buying an additional 1,703 shares during the period. Main Street Financial Solutions LLC’s holdings in Novartis were worth $508,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of NVS. Founders Financial Securities LLC lifted its holdings 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 during the period. Steigerwald Gordon & Koch Inc. increased its position in Novartis by 4.8% in the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 2,091 shares of the company’s stock valued at $241,000 after acquiring an additional 95 shares in the last quarter. NBC Securities Inc. raised its stake in shares of Novartis by 0.9% in the second quarter. NBC Securities Inc. now owns 10,492 shares of the company’s stock worth $1,116,000 after acquiring an additional 97 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Novartis by 5.1% during the first 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 during the last quarter. Finally, Portside Wealth Group LLC increased its holdings in shares of Novartis by 3.4% in the second quarter. Portside Wealth Group LLC now owns 3,000 shares of the company’s stock valued at $319,000 after purchasing an additional 99 shares in the last quarter. Institutional investors own 13.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NVS. BMO Capital Markets lifted their price objective on Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Bank of America lowered Novartis from a “buy” rating to a “neutral” rating and cut 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 target price (up from $119.00) on shares of Novartis in a research report on Thursday, September 5th. Jefferies Financial Group lowered shares of Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Novartis in a research note on Friday, July 19th. One 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $121.50.

Novartis Trading Down 0.4 %

Shares of NYSE:NVS opened at $103.41 on Friday. The firm has a market cap of $211.37 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 1.50 and a beta of 0.58. The company’s fifty day simple moving average is $113.67 and its 200 day simple moving average is $109.84. Novartis AG has a 12 month low of $92.35 and a 12 month high of $120.92. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 0.55.

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

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.