Novartis AG $NVS Shares Sold by Blue Trust Inc.

Key Points

• Blue Trust Inc. has reduced its holdings in Novartis AG by 31.5% during the second quarter, selling 2,154 shares and now owning 4,685 shares worth approximately $567,000.
• Novartis reported $2.42 earnings per share for the last quarter, exceeding the estimated $2.38, and achieved a revenue of $14.05 billion, surpassing expectations.
• Analysts have mixed opinions on Novartis' stock, with one giving a Strong Buy rating, while three analysts suggest a Sell, resulting in an average recommendation of Hold with a target price of $120.33.

Blue Trust Inc. lessened its holdings in shares of Novartis AG (NYSE:NVS - Free Report) by 31.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,685 shares of the company's stock after selling 2,154 shares during the quarter. Blue Trust Inc.'s holdings in Novartis were worth $567,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Essex Savings Bank raised its stake in shares of Novartis by 1.9% in the 2nd quarter. Essex Savings Bank now owns 4,611 shares of the company's stock worth $558,000 after buying an additional 85 shares in the last quarter. Physician Wealth Advisors Inc. raised its stake in shares of Novartis by 5.8% in the 2nd quarter. Physician Wealth Advisors Inc. now owns 1,541 shares of the company's stock worth $186,000 after buying an additional 85 shares in the last quarter. Gallacher Capital Management LLC grew its holdings in shares of Novartis by 1.7% in the 2nd quarter. Gallacher Capital Management LLC now owns 5,371 shares of the company's stock worth $650,000 after acquiring an additional 92 shares during the last quarter. Ascent Group LLC grew its holdings in shares of Novartis by 0.7% in the 2nd quarter. Ascent Group LLC now owns 14,121 shares of the company's stock worth $1,709,000 after acquiring an additional 97 shares during the last quarter. Finally, Sage Rhino Capital LLC grew its holdings in shares of Novartis by 1.2% in the 2nd quarter. Sage Rhino Capital LLC now owns 8,120 shares of the company's stock worth $983,000 after acquiring an additional 99 shares during the last quarter. Institutional investors own 13.12% of the company's stock.

Novartis Stock Down 0.8%

NYSE:NVS opened at $130.05 on Monday. The firm has a market capitalization of $274.72 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 1.80 and a beta of 0.64. Novartis AG has a 1-year low of $96.06 and a 1-year high of $133.55. The company has a current ratio of 0.82, a quick ratio of 0.62 and a debt-to-equity ratio of 0.53. The business's fifty day moving average price is $125.14 and its 200 day moving average price is $117.96.

Novartis (NYSE:NVS - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.04. The firm had revenue of $14.05 billion for the quarter, compared to analyst estimates of $13.94 billion. Novartis had a return on equity of 41.08% and a net margin of 25.64%.Novartis's quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.97 earnings per share. On average, sell-side analysts forecast that Novartis AG will post 8.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Weiss Ratings restated a "buy (b)" rating on shares of Novartis in a report on Wednesday, October 8th. Wall Street Zen upgraded Novartis from a "buy" rating to a "strong-buy" rating in a report on Saturday. Morgan Stanley upgraded Novartis from an "underweight" rating to an "equal weight" rating and set a $123.00 target price on the stock in a report on Friday, August 8th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Novartis in a report on Thursday, August 21st. Finally, The Goldman Sachs Group restated a "sell" rating and issued a $118.00 target price (down from $119.00) on shares of Novartis in a report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $120.33.

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.

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