Novartis AG (NYSE:NVS) Position Lifted by Essex Savings Bank

Essex Savings Bank raised its stake in shares of Novartis AG (NYSE:NVS) by 45.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,863 shares of the company’s stock after acquiring an additional 1,200 shares during the quarter. Essex Savings Bank’s holdings in Novartis were worth $444,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. New Millennium Group LLC bought a new position in Novartis during the 2nd quarter valued at $28,000. Clearstead Trust LLC lifted its position in shares of Novartis by 73.5% in the 1st quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock worth $26,000 after buying an additional 114 shares during the last quarter. Lynx Investment Advisory bought a new position in shares of Novartis in the 2nd quarter worth about $29,000. Industrial Alliance Investment Management Inc. bought a new position in shares of Novartis in the 2nd quarter worth about $30,000. Finally, Richardson Financial Services Inc. bought a new position in shares of Novartis in the 2nd quarter worth about $30,000. 13.12% of the stock is currently owned by institutional investors.

Novartis Stock Performance

Shares of NVS opened at $106.45 on Friday. Novartis AG has a one year low of $92.35 and a one year high of $120.92. The company has a 50-day moving average of $114.56 and a two-hundred day moving average of $109.62. The stock has a market cap of $217.58 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 1.56 and a beta of 0.58. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.11 and a quick ratio of 0.90.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $2.06 EPS for the quarter, topping the consensus estimate of $1.94 by $0.12. The business had revenue of $12.82 billion during the quarter, compared to analysts’ expectations of $12.62 billion. Novartis had a net margin of 35.96% and a return on equity of 34.80%. During the same period last year, the company posted $1.74 earnings per share. On average, equities research analysts expect that Novartis AG will post 7.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $121.00 price objective (up previously from $119.00) on shares of Novartis in a report on Thursday, September 5th. Bank of America cut shares of Novartis from a “buy” rating to a “neutral” rating and lowered their target price for the company from $135.00 to $130.00 in a research note on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Novartis in a research note on Friday, July 19th. BMO Capital Markets raised their target price on shares of Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group cut shares of Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company 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.