Novartis AG $NVS Stock Position Lowered by Foresight Global Investors Inc.

Foresight Global Investors Inc. decreased its position in Novartis AG (NYSE:NVS) by 12.2% in the second quarter, Holdings Channel reports. The firm owned 164,924 shares of the company’s stock after selling 22,901 shares during the period. Novartis accounts for 14.2% of Foresight Global Investors Inc.’s investment portfolio, making the stock its 2nd largest holding. Foresight Global Investors Inc.’s holdings in Novartis were worth $19,957,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC increased its stake in shares of Novartis by 76.5% during the fourth quarter. Brighton Jones LLC now owns 6,153 shares of the company’s stock valued at $599,000 after buying an additional 2,666 shares during the period. Allianz Asset Management GmbH lifted its stake in Novartis by 19.6% in the first quarter. Allianz Asset Management GmbH now owns 6,700 shares of the company’s stock worth $747,000 after acquiring an additional 1,100 shares during the period. Cetera Investment Advisers grew its holdings in Novartis by 0.6% during the 1st quarter. Cetera Investment Advisers now owns 126,528 shares of the company’s stock worth $14,105,000 after acquiring an additional 697 shares in the last quarter. HB Wealth Management LLC increased its position in Novartis by 67.5% during the 1st quarter. HB Wealth Management LLC now owns 11,293 shares of the company’s stock valued at $1,259,000 after purchasing an additional 4,549 shares during the period. Finally, TD Asset Management Inc increased its position in Novartis by 8.6% during the 1st quarter. TD Asset Management Inc now owns 17,429 shares of the company’s stock valued at $1,943,000 after purchasing an additional 1,374 shares during the period. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Novartis Price Performance

NYSE NVS opened at $130.44 on Thursday. The firm’s fifty day simple moving average is $128.00 and its two-hundred day simple moving average is $122.30. The firm has a market capitalization of $275.54 billion, a P/E ratio of 17.82, a P/E/G ratio of 1.93 and a beta of 0.60. The company has a current ratio of 0.88, a quick ratio of 0.62 and a debt-to-equity ratio of 0.50. Novartis AG has a 12-month low of $96.06 and a 12-month high of $134.00.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $2.25 EPS for the quarter, missing the consensus estimate of $2.26 by ($0.01). Novartis had a net margin of 26.49% and a return on equity of 41.21%. The business had revenue of $14.36 billion for the quarter, compared to analysts’ expectations of $13.70 billion. During the same quarter in the prior year, the company posted $2.06 EPS. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. Analysts forecast that Novartis AG will post 8.45 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Cfra Research raised shares of Novartis to a “hold” rating in a research report on Wednesday, October 29th. Morgan Stanley raised shares of Novartis from an “equal weight” rating to an “overweight” rating in a research note on Friday, October 31st. Cfra set a $126.00 target price on Novartis and gave the company a “hold” rating in a research report on Wednesday, October 29th. The Goldman Sachs Group reiterated a “sell” rating and issued a $118.00 price target (down from $119.00) on shares of Novartis in a report on Friday, September 12th. Finally, Bank of America raised Novartis from a “neutral” rating to a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $122.33.

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.