Novartis AG (NYSE:NVS) Shares Sold by Euro Pacific Asset Management LLC

Euro Pacific Asset Management LLC reduced its stake in Novartis AG (NYSE:NVS) by 1.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 97,224 shares of the company’s stock after selling 1,185 shares during the quarter. Novartis accounts for 2.0% of Euro Pacific Asset Management LLC’s portfolio, making the stock its 22nd largest position. Euro Pacific Asset Management LLC’s holdings in Novartis were worth $11,156,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Clearstead Trust LLC boosted its position in shares of 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 during the period. New Millennium Group LLC acquired a new position in Novartis during the 2nd quarter worth about $28,000. Lynx Investment Advisory purchased a new position in Novartis during the 2nd quarter valued at about $29,000. Industrial Alliance Investment Management Inc. purchased a new position in Novartis during the 2nd quarter valued at about $30,000. Finally, Richardson Financial Services Inc. acquired a new position in Novartis in the 2nd quarter valued at about $30,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Trading Down 0.3 %

NVS opened at $103.06 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.90 and a current ratio of 1.11. Novartis AG has a one year low of $92.35 and a one year high of $120.92. The company has a market cap of $210.65 billion, a P/E ratio of 11.97, a PEG ratio of 1.50 and a beta of 0.58. The business’s 50-day simple moving average is $113.14 and its 200-day simple moving average is $109.84.

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Novartis in a research note on Friday, July 19th. The Goldman Sachs Group reissued a “neutral” rating and issued a $121.00 price target (up previously from $119.00) on shares of Novartis in a research report on Thursday, September 5th. Bank of America lowered Novartis from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $135.00 to $130.00 in a research report on Wednesday, September 11th. BMO Capital Markets boosted their target price on Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group lowered Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd. One investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $121.50.

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.