Graypoint LLC Sells 384 Shares of Novartis AG (NYSE:NVS)

Graypoint LLC lessened its stake in shares of Novartis AG (NYSE:NVS) by 10.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,357 shares of the company’s stock after selling 384 shares during the quarter. Graypoint LLC’s holdings in Novartis were worth $327,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Legacy Investment Solutions LLC acquired a new stake in Novartis during the 3rd quarter worth approximately $28,000. Richardson Financial Services Inc. acquired a new position in shares of Novartis during the second quarter worth $30,000. Fortitude Family Office LLC grew its stake in shares of Novartis by 503.8% in the third quarter. Fortitude Family Office LLC now owns 320 shares of the company’s stock worth $37,000 after purchasing an additional 267 shares during the last quarter. Clean Yield Group acquired a new stake in Novartis in the third quarter valued at $43,000. Finally, Versant Capital Management Inc raised its position in Novartis by 782.0% during the 4th quarter. Versant Capital Management Inc now owns 785 shares of the company’s stock worth $76,000 after purchasing an additional 696 shares during the last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Price Performance

Shares of NVS opened at $99.06 on Monday. The firm has a market cap of $202.48 billion, a PE ratio of 11.51, a price-to-earnings-growth ratio of 1.49 and a beta of 0.57. Novartis AG has a 52-week low of $92.35 and a 52-week high of $120.92. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.90 and a current ratio of 1.11. The business’s 50 day moving average price is $101.55 and its two-hundred day moving average price is $109.29.

Novartis (NYSE:NVS) last issued its earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter, topping 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 business 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 earned $1.74 earnings per share. On average, equities analysts anticipate that Novartis AG will post 7.65 EPS for the current year.

Analyst Ratings Changes

NVS has been the subject of several recent research reports. BMO Capital Markets increased their price target on Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Erste Group Bank reissued a “hold” rating on shares of Novartis in a research report on Tuesday, November 19th. Finally, HSBC downgraded shares of Novartis from a “hold” rating to a “reduce” rating in a research report on Wednesday, December 4th. Two analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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.