Novartis AG (NYSE:NVS) Shares Sold by Bar Harbor Wealth Management

Bar Harbor Wealth Management lessened its stake in Novartis AG (NYSE:NVS) by 14.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,133 shares of the company’s stock after selling 536 shares during the period. Bar Harbor Wealth Management’s holdings in Novartis were worth $305,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in NVS. Legacy Investment Solutions LLC purchased a new stake in Novartis during the third quarter worth $28,000. Richardson Financial Services Inc. purchased a new stake in shares of Novartis during the 2nd quarter worth about $30,000. Fortitude Family Office LLC grew its position in shares of Novartis by 503.8% during the 3rd quarter. Fortitude Family Office LLC now owns 320 shares of the company’s stock valued at $37,000 after acquiring an additional 267 shares during the period. Clean Yield Group purchased a new position in shares of Novartis in the 3rd quarter valued at about $43,000. Finally, Versant Capital Management Inc raised its holdings in Novartis by 782.0% in the 4th quarter. Versant Capital Management Inc now owns 785 shares of the company’s stock worth $76,000 after purchasing an additional 696 shares during the period. Institutional investors and hedge funds own 13.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on NVS shares. HSBC cut Novartis from a “hold” rating to a “reduce” rating in a research report on Wednesday, December 4th. BMO Capital Markets upped their price objective on shares of Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Finally, Erste Group Bank reiterated a “hold” rating on shares of Novartis in a research report on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $121.50.

Novartis Trading Up 0.1 %

Shares of Novartis stock opened at $99.20 on Tuesday. Novartis AG has a 1-year low of $92.35 and a 1-year high of $120.92. The stock has a market cap of $202.76 billion, a P/E ratio of 11.52, a P/E/G ratio of 1.49 and a beta of 0.57. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.11 and a quick ratio of 0.90. The stock’s 50 day simple moving average is $101.33 and its 200-day simple moving average is $109.24.

Novartis (NYSE:NVS) last issued its earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. Novartis had a return on equity of 34.80% and a net margin of 35.96%. The business had revenue of $12.82 billion during the quarter, compared to the consensus estimate of $12.62 billion. During the same period last year, the company earned $1.74 EPS. Analysts predict that Novartis AG will post 7.65 EPS 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.