Novartis AG (NYSE:NVS) Shares Sold by Marcum Wealth LLC

Marcum Wealth LLC decreased its holdings in shares of Novartis AG (NYSE:NVS) by 4.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,937 shares of the company’s stock after selling 96 shares during the period. Marcum Wealth LLC’s holdings in Novartis were worth $223,000 at the end of the most recent quarter.

Other hedge funds 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 worth about $25,000. Richardson Financial Services Inc. purchased a new position in Novartis during the fourth quarter worth about $26,000. New Millennium Group LLC purchased a new position in Novartis during the second quarter worth about $28,000. Clearstead Trust LLC raised its holdings in Novartis by 73.5% during the first quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock worth $26,000 after purchasing an additional 114 shares in the last quarter. Finally, Lynx Investment Advisory purchased a new position in Novartis during the second quarter worth about $29,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NVS. Barclays raised shares of Novartis to a “strong sell” rating in a report on Monday, June 24th. Bank of America cut shares of Novartis from a “buy” rating to a “neutral” rating and cut their price target for the stock from $135.00 to $130.00 in a report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Novartis in a report on Friday, July 19th. Jefferies Financial Group cut shares of Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $121.00 target price (up from $119.00) on shares of Novartis in a report on Thursday, September 5th. 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 stock. According to MarketBeat.com, Novartis presently has an average rating of “Hold” and a consensus target price of $120.70.

Novartis Stock Up 1.2 %

Shares of NYSE NVS opened at $116.24 on Friday. Novartis AG has a 1 year low of $92.19 and a 1 year high of $120.92. The firm’s 50 day moving average price is $115.66 and its 200 day moving average price is $107.04. The firm has a market cap of $237.59 billion, a P/E ratio of 14.73, a price-to-earnings-growth ratio of 1.72 and a beta of 0.57. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.72 and a current ratio of 0.93.

Novartis (NYSE:NVS) last announced its earnings results on Thursday, July 18th. The company reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.10. The firm had revenue of $12.87 billion for the quarter, compared to analyst estimates 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 business earned $1.83 earnings per share. As a group, sell-side analysts anticipate that Novartis AG will post 7.52 earnings per share for the current year.

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.