Bristlecone Advisors LLC Has $206,000 Stock Holdings in Novartis AG (NYSE:NVS)

Bristlecone Advisors LLC decreased its holdings in Novartis AG (NYSE:NVS) by 35.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,787 shares of the company’s stock after selling 968 shares during the quarter. Bristlecone Advisors LLC’s holdings in Novartis were worth $206,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Modera Wealth Management LLC raised its stake in shares of Novartis by 2.8% in the 3rd quarter. Modera Wealth Management LLC now owns 5,435 shares of the company’s stock valued at $625,000 after buying an additional 150 shares in the last quarter. GHP Investment Advisors Inc. raised its stake in shares of Novartis by 9.9% in the 3rd quarter. GHP Investment Advisors Inc. now owns 1,650 shares of the company’s stock valued at $190,000 after buying an additional 149 shares in the last quarter. NorthCrest Asset Manangement LLC increased its position in shares of Novartis by 0.7% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 57,534 shares of the company’s stock worth $6,618,000 after purchasing an additional 381 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Novartis by 115.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 231,792 shares of the company’s stock worth $26,797,000 after purchasing an additional 124,111 shares in the last quarter. Finally, Mediolanum International Funds Ltd acquired a new stake in shares of Novartis during the 3rd quarter worth about $24,096,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Stock Performance

Shares of NVS stock opened at $113.79 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.72 and a current ratio of 0.93. The company has a market capitalization of $232.59 billion, a P/E ratio of 15.36, a price-to-earnings-growth ratio of 1.66 and a beta of 0.57. The company’s 50 day moving average price is $116.42 and its two-hundred day moving average price is $108.74. Novartis AG has a 52 week low of $92.19 and a 52 week high of $120.92.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Bank of America cut shares of Novartis from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $135.00 to $130.00 in a research report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Novartis in a research note on Friday, July 19th. Jefferies Financial Group lowered shares of Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $121.00 target price (up previously from $119.00) on shares of Novartis in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $120.70.

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.