Novartis AG (NYSE:NVS) Shares Sold by XML Financial LLC

XML Financial LLC reduced its holdings in shares of Novartis AG (NYSE:NVS) by 4.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,248 shares of the company’s stock after selling 427 shares during the period. XML Financial LLC’s holdings in Novartis were worth $985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. NBC Securities Inc. grew its stake in shares of Novartis by 0.9% in the 2nd quarter. NBC Securities Inc. now owns 10,492 shares of the company’s stock valued at $1,116,000 after buying an additional 97 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Novartis by 5.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,013 shares of the company’s stock valued at $196,000 after purchasing an additional 98 shares during the last quarter. Portside Wealth Group LLC grew its holdings in shares of Novartis by 3.4% during the 2nd quarter. Portside Wealth Group LLC now owns 3,000 shares of the company’s stock worth $319,000 after purchasing an additional 99 shares during the period. Evermay Wealth Management LLC raised its holdings in Novartis by 9.3% in the 1st quarter. Evermay Wealth Management LLC now owns 1,176 shares of the company’s stock valued at $114,000 after buying an additional 100 shares during the period. Finally, Rehmann Capital Advisory Group lifted its position in Novartis by 1.5% in the first quarter. Rehmann Capital Advisory Group now owns 7,043 shares of the company’s stock valued at $681,000 after buying an additional 103 shares during the last quarter. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Novartis Stock Up 0.4 %

Shares of NVS traded up $0.49 during midday trading on Wednesday, reaching $117.62. The stock had a trading volume of 711,792 shares, compared to its average volume of 1,204,212. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.93 and a quick ratio of 0.72. The company’s fifty day simple moving average is $109.53 and its two-hundred day simple moving average is $103.03. The company has a market cap of $240.42 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 1.69 and a beta of 0.57. Novartis AG has a 1-year low of $92.19 and a 1-year high of $117.75.

Novartis (NYSE:NVS) last announced its quarterly earnings results on Thursday, July 18th. The company reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.10. Novartis had a return on equity of 34.56% and a net margin of 33.76%. The company had revenue of $12.87 billion during the quarter, compared to the consensus estimate of $12.24 billion. During the same period in the previous year, the business earned $1.83 EPS. Equities research analysts expect that Novartis AG will post 7.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Novartis Company 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.