Novartis AG $NVS Stock Sold by Investment House LLC

Key Points

• Investment House LLC reduced its Novartis stake by 32.7% in the third quarter, selling 26,191 shares and retaining 53,956 shares valued at approximately $7.7 million.
• Novartis shares rose 1.5% to $156.24, while the company reported quarterly EPS of $2.41 on $14.95 billion in revenue. Analysts expect full-year EPS of $8.91.
• Analyst sentiment remains mixed but leans toward “Hold”: six analysts rate the stock a Buy, 12 a Hold and two a Sell, with a consensus price target of $145.60.

Investment House LLC cut its holdings in shares of Novartis AG (NYSE:NVS - Free Report) by 32.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,956 shares of the company's stock after selling 26,191 shares during the quarter. Investment House LLC's holdings in Novartis were worth $7,693,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NVS. Highland Investment Advisors LLC bought a new stake in shares of Novartis during the second quarter valued at approximately $25,000. Evolution Wealth Management Inc. boosted its position in shares of Novartis by 552.0% during the second quarter. Evolution Wealth Management Inc. now owns 163 shares of the company's stock worth $26,000 after acquiring an additional 138 shares during the last quarter. Atlatl Advisers LLC purchased a new position in Novartis during the second quarter valued at $26,000. Archer Investment Corp grew its stake in Novartis by 93.0% during the first quarter. Archer Investment Corp now owns 166 shares of the company's stock valued at $25,000 after acquiring an additional 80 shares in the last quarter. Finally, Silicon Valley Capital Partners boosted its holdings in shares of Novartis by 519.4% during the 2nd quarter. Silicon Valley Capital Partners now owns 192 shares of the company's stock valued at $30,000 after purchasing an additional 161 shares during the last quarter. Institutional investors own 13.12% of the company's stock.

Novartis Trading Up 1.5%

Shares of NYSE NVS opened at $156.24 on Friday. Novartis AG has a 1-year low of $121.57 and a 1-year high of $170.46. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.86 and a quick ratio of 0.67. The business's 50 day moving average is $148.31 and its two-hundred day moving average is $150.46. The stock has a market capitalization of $298.13 billion, a P/E ratio of 23.57, a PEG ratio of 2.79 and a beta of 0.41.

Novartis (NYSE:NVS - Get Free Report) last posted its quarterly earnings data on Tuesday, June 30th. The company reported $2.41 earnings per share (EPS) for the quarter. The business had revenue of $14.95 billion during the quarter. Novartis had a return on equity of 38.56% and a net margin of 23.29%. As a group, research analysts expect that Novartis AG will post 8.91 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. reaffirmed a "buy" rating on shares of Novartis in a report on Sunday, August 9th. HSBC upgraded Novartis from a "reduce" rating to a "hold" rating and raised their price target for the company from $123.00 to $136.00 in a report on Thursday, September 10th. Bank of America reaffirmed a "buy" rating on shares of Novartis in a report on Tuesday, September 8th. The Goldman Sachs Group reiterated a "sell" rating on shares of Novartis in a research report on Monday, September 21st. Finally, Morgan Stanley reissued an "overweight" rating and issued a $156.00 target price on shares of Novartis in a report on Tuesday, October 6th. Six analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $145.60.

About Novartis

Novartis AG is a Switzerland-based pharmaceutical company focused on the discovery, development and commercialization of innovative medicines. The company's research and commercial activities span areas including cardiovascular, renal and metabolic diseases, immunology, neuroscience, oncology and hematology. Its portfolio includes prescription medicines such as Entresto, Cosentyx, Kisqali, Kesimpta, Leqvio, Pluvicto and Scemblix.

Novartis serves patients and healthcare providers in markets around the world.

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