Boston Financial Mangement LLC Has $925,000 Holdings in Novartis AG (NYSE:NVS)

Boston Financial Mangement LLC trimmed its holdings in Novartis AG (NYSE:NVS) by 13.0% in the third quarter, Holdings Channel reports. The fund owned 8,045 shares of the company’s stock after selling 1,203 shares during the period. Boston Financial Mangement LLC’s holdings in Novartis were worth $925,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its stake in Novartis by 23.1% in the second quarter. Dimensional Fund Advisors LP now owns 7,407,692 shares of the company’s stock valued at $788,626,000 after acquiring an additional 1,389,610 shares during the period. Janus Henderson Group PLC grew its stake in Novartis by 0.6% in the first quarter. Janus Henderson Group PLC now owns 2,568,728 shares of the company’s stock valued at $248,473,000 after acquiring an additional 16,015 shares during the period. Mondrian Investment Partners LTD grew its stake in Novartis by 40.1% in the first quarter. Mondrian Investment Partners LTD now owns 2,065,739 shares of the company’s stock valued at $199,819,000 after acquiring an additional 590,830 shares during the period. Magnetar Financial LLC grew its stake in Novartis by 53.7% in the first quarter. Magnetar Financial LLC now owns 1,906,046 shares of the company’s stock valued at $184,372,000 after acquiring an additional 666,104 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Novartis by 191.1% in the second quarter. Bank of New York Mellon Corp now owns 1,904,664 shares of the company’s stock valued at $202,771,000 after acquiring an additional 1,250,318 shares during the period. 13.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NVS has been the subject of a number of research analyst reports. The Goldman Sachs Group reissued a “neutral” rating and issued a $121.00 target price (up from $119.00) on shares of Novartis in a research note on Thursday, September 5th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Novartis in a report on Friday, July 19th. Jefferies Financial Group lowered Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. Finally, Bank of America lowered Novartis from a “buy” rating to a “neutral” rating and cut their price target for the company from $135.00 to $130.00 in a report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a strong buy rating to the company. According to MarketBeat, Novartis presently has a consensus rating of “Hold” and a consensus price target of $120.70.

Novartis Stock Performance

NVS opened at $110.56 on Wednesday. Novartis AG has a 52-week low of $92.35 and a 52-week high of $120.92. The firm has a market capitalization of $225.98 billion, a PE ratio of 14.92, a PEG ratio of 1.65 and a beta of 0.57. 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 business’s 50-day simple moving average is $116.28 and its 200 day simple moving average is $109.01.

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.