Glenmede Trust Co. NA Cuts Stock Position in Novartis AG (NYSE:NVS)

Glenmede Trust Co. NA cut its position in Novartis AG (NYSE:NVS) by 5.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,613 shares of the company’s stock after selling 2,005 shares during the quarter. Glenmede Trust Co. NA’s holdings in Novartis were worth $4,326,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of NVS. Founders Financial Securities LLC lifted its position in Novartis by 3.4% during the second quarter. Founders Financial Securities LLC now owns 2,832 shares of the company’s stock valued at $301,000 after acquiring an additional 94 shares during the last quarter. Steigerwald Gordon & Koch Inc. grew its stake in Novartis by 4.8% during the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 2,091 shares of the company’s stock worth $241,000 after buying an additional 95 shares during the last quarter. NBC Securities Inc. increased its position in Novartis by 0.9% during 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 in the last quarter. EverSource Wealth Advisors LLC raised its stake in Novartis by 5.1% in the first quarter. EverSource Wealth Advisors LLC now owns 2,013 shares of the company’s stock valued at $196,000 after buying an additional 98 shares during the last quarter. Finally, Centaurus Financial Inc. raised its stake in Novartis by 1.7% in the third quarter. Centaurus Financial Inc. now owns 5,728 shares of the company’s stock valued at $659,000 after buying an additional 98 shares during the last quarter. 13.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NVS has been the topic of several recent analyst reports. Jefferies Financial Group downgraded shares of Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. Erste Group Bank restated a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $121.00 price target (up previously from $119.00) on shares of Novartis in a report on Thursday, September 5th. BMO Capital Markets upped their target price on Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Finally, Bank of America cut Novartis from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $135.00 to $130.00 in a research report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Novartis has a consensus rating of “Hold” and a consensus price target of $121.50.

Novartis Trading Up 0.9 %

NYSE NVS opened at $105.77 on Friday. The company has a fifty day moving average of $110.72 and a 200 day moving average of $110.23. The company has a market capitalization of $216.19 billion, a PE ratio of 12.28, a P/E/G ratio of 1.51 and a beta of 0.58. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.11 and a quick ratio of 0.90. Novartis AG has a 1 year low of $92.35 and a 1 year high of $120.92.

Novartis (NYSE:NVS) last issued its earnings results on Tuesday, October 29th. The company reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. The firm had revenue of $12.82 billion for the quarter, compared to the consensus estimate of $12.62 billion. Novartis had a return on equity of 34.80% and a net margin of 35.96%. During the same quarter in the prior year, the business earned $1.74 earnings per share. Research analysts forecast that Novartis AG will post 7.66 earnings per share for the current year.

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.