Bayforest Capital Ltd Sells 2,522 Shares of Novartis AG (NYSE:NVS)

Key Points

• Bayforest Capital Ltd reduced its holdings in Novartis AG by 77.0%, selling 2,522 shares during the first quarter and now owning only 753 shares valued at $84,000.
• BNP Paribas upgraded Novartis to a "strong-buy" rating, contributing to an overall average analyst rating of "Hold" with a consensus target price of $123.67.
• Novartis reported $2.42 EPS for the last quarter, exceeding analysts' expectations, with a year-over-year revenue increase of 12.3%.

Bayforest Capital Ltd decreased its holdings in shares of Novartis AG (NYSE:NVS - Free Report) by 77.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 753 shares of the company's stock after selling 2,522 shares during the period. Bayforest Capital Ltd's holdings in Novartis were worth $84,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in NVS. Nexus Investment Management ULC bought a new stake in shares of Novartis during the 1st quarter valued at about $25,000. Tsfg LLC increased its position in shares of Novartis by 366.0% in the first quarter. Tsfg LLC now owns 233 shares of the company's stock worth $26,000 after purchasing an additional 183 shares during the last quarter. Raiffeisen Bank International AG purchased a new stake in Novartis in the fourth quarter valued at approximately $25,000. Alpine Bank Wealth Management bought a new stake in Novartis during the first quarter valued at approximately $33,000. Finally, Park Square Financial Group LLC purchased a new position in Novartis in the 4th quarter worth approximately $30,000. Institutional investors own 13.12% of the company's stock.

Analyst Ratings Changes

Separately, BNP Paribas upgraded shares of Novartis to a "strong-buy" rating in a research report on Tuesday, April 15th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, one has given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Novartis currently has an average rating of "Hold" and a consensus target price of $123.67.

Novartis Stock Up 1.3%

Shares of NYSE NVS opened at $115.25 on Friday. The stock has a market capitalization of $243.46 billion, a P/E ratio of 16.78, a PEG ratio of 1.62 and a beta of 0.62. Novartis AG has a one year low of $96.06 and a one year high of $124.83. The firm's 50 day simple moving average is $117.94 and its two-hundred day simple moving average is $111.73. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.82 and a quick ratio of 0.62.

Novartis (NYSE:NVS - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The company reported $2.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.38 by $0.04. The company had revenue of $14.05 billion during the quarter, compared to analysts' expectations of $13.94 billion. Novartis had a net margin of 25.64% and a return on equity of 41.08%. The firm's revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.97 EPS. As a group, analysts expect that Novartis AG will post 8.45 EPS for the current fiscal 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.

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