Novartis AG (NYSE:NVS) Stock Holdings Lowered by Patten Group Inc.

Patten Group Inc. reduced its holdings in Novartis AG (NYSE:NVS) by 0.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,387 shares of the company’s stock after selling 126 shares during the quarter. Patten Group Inc.’s holdings in Novartis were worth $1,885,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Private Ocean LLC acquired a new stake in shares of Novartis during the first quarter valued at approximately $25,000. Richardson Financial Services Inc. acquired a new stake in shares of Novartis during the fourth quarter valued at approximately $26,000. Clearstead Trust LLC raised its holdings in shares of Novartis by 73.5% during the first quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock valued at $26,000 after acquiring an additional 114 shares during the period. New Millennium Group LLC acquired a new stake in shares of Novartis during the second quarter valued at approximately $28,000. Finally, Lynx Investment Advisory acquired a new stake in shares of Novartis during the second quarter valued at approximately $29,000. 13.12% of the stock is currently owned by institutional investors.

Novartis Stock Performance

NVS opened at $115.64 on Thursday. Novartis AG has a 12-month low of $92.19 and a 12-month high of $120.92. The firm has a market capitalization of $236.37 billion, a P/E ratio of 15.61, a price-to-earnings-growth ratio of 1.70 and a beta of 0.57. The stock’s 50 day moving average price is $115.53 and its two-hundred day moving average price is $106.93. The company has a quick ratio of 0.72, a current ratio of 0.93 and a debt-to-equity ratio of 0.47.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Thursday, July 18th. The company reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.10. The business had revenue of $12.87 billion for the quarter, compared to the consensus estimate of $12.24 billion. Novartis had a net margin of 33.76% and a return on equity of 34.56%. During the same quarter last year, the company posted $1.83 earnings per share. On average, equities analysts forecast that Novartis AG will post 7.5 earnings per share for the current year.

Analysts Set New Price Targets

NVS has been the topic of a number of recent analyst reports. Jefferies Financial Group lowered shares of Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Novartis in a research note on Friday, July 19th. Barclays upgraded shares of Novartis to a “strong sell” rating in a research note on Monday, June 24th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $121.00 price objective (up previously from $119.00) on shares of Novartis in a research note on Thursday, September 5th. Finally, Bank of America lowered shares of Novartis from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $135.00 to $130.00 in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $120.70.

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.