Bank of New York Mellon Corp Decreases Holdings in Novartis AG $NVS

Bank of New York Mellon Corp decreased its position in Novartis AG (NYSE:NVS) by 41.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 316,360 shares of the company’s stock after selling 225,937 shares during the quarter. Bank of New York Mellon Corp’s holdings in Novartis were worth $38,283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Brighton Jones LLC boosted its stake in shares of Novartis by 76.5% in the 4th quarter. Brighton Jones LLC now owns 6,153 shares of the company’s stock valued at $599,000 after purchasing an additional 2,666 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Novartis by 19.6% during the first quarter. Nisa Investment Advisors LLC now owns 1,222 shares of the company’s stock valued at $136,000 after buying an additional 200 shares during the period. Xponance Inc. boosted its position in Novartis by 4.8% during the first quarter. Xponance Inc. now owns 2,725 shares of the company’s stock valued at $304,000 after buying an additional 125 shares during the period. Sigma Planning Corp grew its stake in shares of Novartis by 15.6% during the first quarter. Sigma Planning Corp now owns 4,875 shares of the company’s stock valued at $547,000 after buying an additional 657 shares during the last quarter. Finally, SBI Securities Co. Ltd. increased its holdings in shares of Novartis by 15.5% in the first quarter. SBI Securities Co. Ltd. now owns 1,147 shares of the company’s stock worth $128,000 after buying an additional 154 shares during the period. 13.12% of the stock is currently owned by institutional investors.

Novartis Price Performance

NVS stock opened at $132.18 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.88 and a quick ratio of 0.62. Novartis AG has a 1 year low of $96.06 and a 1 year high of $133.55. The firm has a 50-day moving average of $127.47 and a 200 day moving average of $121.12. The company has a market cap of $279.22 billion, a P/E ratio of 18.06, a PEG ratio of 1.93 and a beta of 0.60.

Novartis (NYSE:NVS) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $2.25 earnings per share 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 firm had revenue of $13.91 billion for the quarter, compared to the consensus estimate of $13.70 billion. During the same period in the previous year, the firm posted $2.06 earnings per share. The business’s revenue was up 8.5% compared to the same quarter last year. On average, sell-side analysts forecast that Novartis AG will post 8.45 EPS for the current year.

Analyst Upgrades and Downgrades

NVS has been the subject of several analyst reports. HC Wainwright cut Novartis to a “neutral” rating in a report on Monday, October 27th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Novartis in a research note on Thursday, August 21st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Novartis in a research note on Friday, October 31st. Cowen reissued a “hold” rating on shares of Novartis in a research report on Monday. Finally, Cfra Research raised shares of Novartis to a “hold” rating in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $122.33.

About Novartis

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.