Camden National Bank Has $8.50 Million Holdings in Novartis AG (NYSE:NVS)

Camden National Bank cut its holdings in shares of Novartis AG (NYSE:NVS) by 1.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 73,938 shares of the company’s stock after selling 1,444 shares during the quarter. Camden National Bank’s holdings in Novartis were worth $8,504,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of NVS. Russell Investments Group Ltd. lifted its holdings in shares of Novartis by 28.8% during the 1st quarter. Russell Investments Group Ltd. now owns 4,492 shares of the company’s stock valued at $435,000 after buying an additional 1,004 shares during the last quarter. CreativeOne Wealth LLC acquired a new stake in shares of Novartis during the 1st quarter valued at about $604,000. Advisors Asset Management Inc. lifted its holdings in shares of Novartis by 10.8% during the 1st quarter. Advisors Asset Management Inc. now owns 24,919 shares of the company’s stock valued at $2,410,000 after buying an additional 2,431 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of Novartis during the 1st quarter valued at about $222,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Novartis by 3.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 115,849 shares of the company’s stock valued at $11,207,000 after buying an additional 3,696 shares during the last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NVS. Jefferies Financial Group lowered Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. BMO Capital Markets raised their price objective on Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Bank of America downgraded Novartis from a “buy” rating to a “neutral” rating and cut their price objective for the company from $135.00 to $130.00 in a research note on Wednesday, September 11th. Erste Group Bank reissued a “hold” rating on shares of Novartis in a research note on Tuesday. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $121.00 price objective (up from $119.00) on shares of Novartis in a research note on Thursday, September 5th. One equities research 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’s stock. According to data from MarketBeat, Novartis has a consensus rating of “Hold” and a consensus target price of $121.50.

Novartis Stock Performance

Shares of NYSE NVS opened at $104.28 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 0.55. The business’s 50 day moving average is $111.87 and its two-hundred day moving average is $110.05. The company has a market cap of $213.15 billion, a P/E ratio of 12.11, a P/E/G ratio of 1.49 and a beta of 0.58. Novartis AG has a 12 month low of $92.35 and a 12 month high of $120.92.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $2.06 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.12. Novartis had a return on equity of 34.80% and a net margin of 35.96%. The company had revenue of $12.82 billion for the quarter, compared to analyst estimates of $12.62 billion. During the same quarter last year, the firm earned $1.74 EPS. On average, equities analysts expect that Novartis AG will post 7.66 EPS for the current 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.