Paradigm Asset Management Co. LLC Sells 100 Shares of Novartis AG (NYSE:NVS)

Paradigm Asset Management Co. LLC cut its holdings in Novartis AG (NYSE:NVS) by 4.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,328 shares of the company’s stock after selling 100 shares during the period. Paradigm Asset Management Co. LLC’s holdings in Novartis were worth $268,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of NVS. Clearstead Trust LLC boosted its stake in Novartis by 73.5% during the first quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock worth $26,000 after buying an additional 114 shares in the last quarter. New Millennium Group LLC acquired a new stake in Novartis during the second quarter worth $28,000. Lynx Investment Advisory acquired a new stake in Novartis during the second quarter worth $29,000. Industrial Alliance Investment Management Inc. acquired a new stake in Novartis during the second quarter worth $30,000. Finally, Richardson Financial Services Inc. acquired a new stake in Novartis during the second quarter worth $30,000. 13.12% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NVS has been the topic of a number of recent research reports. The Goldman Sachs Group reiterated a “neutral” rating and set a $121.00 price target (up previously from $119.00) on shares of Novartis in a research note on Thursday, September 5th. BMO Capital Markets lifted their price target 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 downgraded 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. Jefferies Financial Group downgraded 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 report on Friday, July 19th. 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $121.50.

Novartis Stock Performance

Shares of NYSE:NVS opened at $104.92 on Wednesday. The stock has a market capitalization of $214.46 billion, a P/E ratio of 12.19, a P/E/G ratio of 1.54 and a beta of 0.58. 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 business has a 50-day moving average price of $114.25 and a two-hundred day moving average price of $109.83.

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. The firm had revenue of $12.82 billion during the quarter, compared to analysts’ expectations of $12.62 billion. Novartis had a return on equity of 34.80% and a net margin of 35.96%. During the same period in the previous year, the business posted $1.74 EPS. Equities analysts predict that Novartis AG will post 7.56 earnings per share 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.