Novartis AG (NYSE:NVS) Shares Sold by Procyon Advisors LLC

Procyon Advisors LLC decreased its stake in Novartis AG (NYSE:NVS) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,653 shares of the company’s stock after selling 220 shares during the period. Procyon Advisors LLC’s holdings in Novartis were worth $2,010,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Legacy Investment Solutions LLC acquired a new stake in shares of Novartis during the 3rd quarter valued at approximately $28,000. Richardson Financial Services Inc. purchased a new position in Novartis in the 2nd quarter valued at approximately $30,000. Fortitude Family Office LLC raised its holdings in Novartis by 503.8% during 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 purchased a new stake in Novartis during the third quarter worth $43,000. Finally, Versant Capital Management Inc boosted its position in Novartis by 782.0% during the fourth quarter. Versant Capital Management Inc now owns 785 shares of the company’s stock worth $76,000 after purchasing an additional 696 shares in the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Wall Street Analyst Weigh In

NVS has been the subject of several research reports. BMO Capital Markets lifted their price target on Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Erste Group Bank restated a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. Finally, HSBC downgraded shares of Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday, December 4th. Two investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $121.50.

Novartis Trading Down 0.4 %

Shares of NVS stock opened at $97.51 on Friday. Novartis AG has a twelve month low of $92.35 and a twelve month high of $120.92. The company has a market capitalization of $199.30 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 1.36 and a beta of 0.57. The firm has a 50-day moving average price of $100.61 and a 200 day moving average price of $108.98. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 0.55.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.12. The business had revenue of $12.82 billion for the quarter, compared to the consensus estimate of $12.62 billion. Novartis had a net margin of 35.96% and a return on equity of 34.80%. During the same quarter in the prior year, the firm posted $1.74 earnings per share. Research analysts forecast that Novartis AG will post 7.63 earnings per share for the current fiscal year.

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.