Novartis AG (NYSE:NVS) Shares Sold by Norway Savings Bank

Norway Savings Bank cut its stake in Novartis AG (NYSE:NVS) by 21.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,458 shares of the company’s stock after selling 690 shares during the period. Norway Savings Bank’s holdings in Novartis were worth $248,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Kathmere Capital Management LLC lifted its stake in Novartis by 7.9% during the 2nd quarter. Kathmere Capital Management LLC now owns 10,265 shares of the company’s stock valued at $1,036,000 after acquiring an additional 755 shares during the period. Flagship Harbor Advisors LLC boosted its holdings in Novartis by 34.3% during the second quarter. Flagship Harbor Advisors LLC now owns 3,875 shares of the company’s stock worth $391,000 after buying an additional 989 shares in the last quarter. Level Four Advisory Services LLC boosted its holdings in Novartis by 16.6% during the second quarter. Level Four Advisory Services LLC now owns 12,926 shares of the company’s stock worth $1,304,000 after buying an additional 1,838 shares in the last quarter. Financial Management Professionals Inc. boosted its holdings in Novartis by 750.0% during the second quarter. Financial Management Professionals Inc. now owns 289 shares of the company’s stock worth $29,000 after buying an additional 255 shares in the last quarter. Finally, Delta Financial Group Inc. purchased a new stake in Novartis during the second quarter worth $205,000. 7.00% of the stock is currently owned by institutional investors and hedge funds.

Novartis Trading Up 0.8 %

NVS stock traded up $0.80 during mid-day trading on Friday, hitting $102.63. 1,663,718 shares of the company were exchanged, compared to its average volume of 914,722. The business has a fifty day simple moving average of $101.71 and a 200-day simple moving average of $98.04. The company has a quick ratio of 0.79, a current ratio of 1.05 and a debt-to-equity ratio of 0.35. Novartis AG has a 12-month low of $74.09 and a 12-month high of $105.61. The firm has a market capitalization of $217.53 billion, a P/E ratio of 28.59, a PEG ratio of 1.76 and a beta of 0.54.

Novartis (NYSE:NVS) last posted its quarterly earnings data on Wednesday, July 19th. The company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.68 by $0.15. Novartis had a net margin of 14.76% and a return on equity of 25.12%. The business had revenue of $13.62 billion during the quarter, compared to analyst estimates of $6.32 million. During the same quarter last year, the firm posted $1.56 earnings per share. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, equities research analysts predict that Novartis AG will post 6.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NVS. HSBC began coverage on shares of Novartis in a report on Friday, July 14th. They set a “buy” rating on the stock. StockNews.com began coverage on shares of Novartis in a report on Thursday, August 17th. They set a “strong-buy” rating on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $80.00.

Novartis Company Profile

Novartis AG researches, develops, manufactures, and markets healthcare products in Switzerland and internationally. The company operates through two segments: Innovative Medicines and Sandoz. The Innovative Medicines segment offers prescription medicines for patients and physicians. It also provides cardiovascular, ophthalmology, neuroscience, immunology, hematology, and solid tumor products.