New England Research & Management Inc. Has $276,000 Stake in Novartis AG (NYSE:NVS)

New England Research & Management Inc. lowered its stake in Novartis AG (NYSE:NVS) by 3.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,595 shares of the company’s stock after selling 100 shares during the period. New England Research & Management Inc.’s holdings in Novartis were worth $276,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Frazier Financial Advisors LLC bought a new position in shares of Novartis in the 4th quarter valued at about $26,000. Private Ocean LLC bought a new position in Novartis in the first quarter valued at approximately $25,000. Richardson Financial Services Inc. acquired a new stake in Novartis during the 4th quarter worth $26,000. Clearstead Trust LLC raised its position in shares of Novartis by 73.5% during the 1st quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock valued at $26,000 after acquiring an additional 114 shares during the last quarter. Finally, Lynx Investment Advisory acquired a new position in shares of Novartis in the 2nd quarter valued at $29,000. Institutional investors own 13.12% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. BMO Capital Markets lifted their price objective on shares of Novartis from $114.00 to $116.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 24th. Jefferies Financial Group lifted their price target on shares of Novartis from $121.00 to $122.50 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Novartis in a research report on Friday, July 19th. Barclays upgraded Novartis to a “strong sell” rating in a report on Monday, June 24th. Finally, The Goldman Sachs Group started coverage on Novartis in a report on Thursday, May 30th. They issued a “buy” rating and a $120.00 price target for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Novartis presently has a consensus rating of “Hold” and an average target price of $118.13.

Novartis Stock Up 0.2 %

NYSE NVS traded up $0.21 during trading hours on Tuesday, hitting $110.06. 1,385,000 shares of the company traded hands, compared to its average volume of 1,470,906. The business’s 50-day moving average is $107.18 and its 200-day moving average is $102.44. Novartis AG has a twelve month low of $92.19 and a twelve month high of $113.00. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.72 and a current ratio of 0.93. The stock has a market capitalization of $224.96 billion, a price-to-earnings ratio of 14.83, a P/E/G ratio of 1.66 and a beta of 0.57.

Novartis (NYSE:NVS) last released its quarterly earnings data on Thursday, July 18th. The company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.10. The firm had revenue of $12.87 billion for the quarter, compared to analyst estimates of $12.24 billion. Novartis had a return on equity of 34.56% and a net margin of 33.76%. During the same quarter in the prior year, the company earned $1.83 earnings per share. Sell-side analysts anticipate that Novartis AG will post 7.41 earnings per share for the current year.

About Novartis

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.