Country Club Bank Cuts Stock Position in Novartis AG $NVS

Country Club Bank lowered its position in shares of Novartis AG (NYSE:NVS) by 1.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 60,099 shares of the company’s stock after selling 848 shares during the quarter. Country Club Bank’s holdings in Novartis were worth $7,212,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. WPG Advisers LLC acquired a new stake in Novartis in the first quarter valued at about $25,000. Tsfg LLC lifted its holdings in shares of Novartis by 366.0% in the 1st quarter. Tsfg LLC now owns 233 shares of the company’s stock valued at $26,000 after buying an additional 183 shares during the period. Barrett & Company Inc. purchased a new stake in shares of Novartis in the second quarter valued at approximately $31,000. MCF Advisors LLC boosted its stake in shares of Novartis by 66.0% in the second quarter. MCF Advisors LLC now owns 264 shares of the company’s stock valued at $32,000 after buying an additional 105 shares in the last quarter. Finally, Highline Wealth Partners LLC raised its position in Novartis by 82.4% in the second quarter. Highline Wealth Partners LLC now owns 290 shares of the company’s stock worth $35,000 after acquiring an additional 131 shares in the last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Stock Performance

Novartis stock opened at $132.35 on Tuesday. Novartis AG has a fifty-two week low of $96.06 and a fifty-two week high of $133.55. The company has a market capitalization of $279.58 billion, a price-to-earnings ratio of 19.26, a PEG ratio of 1.83 and a beta of 0.64. The stock has a fifty day moving average of $123.90 and a two-hundred day moving average of $117.38. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.62 and a current ratio of 0.82.

Novartis (NYSE:NVS) last posted its quarterly earnings data on Thursday, July 17th. The company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.04. The firm had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $13.94 billion. Novartis had a return on equity of 41.08% and a net margin of 25.64%.The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.97 EPS. On average, analysts anticipate that Novartis AG will post 8.45 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Novartis in a research report on Thursday, August 21st. The Goldman Sachs Group restated a “sell” rating and set a $118.00 target price (down from $119.00) on shares of Novartis in a research report on Friday, September 12th. Wall Street Zen downgraded shares of Novartis from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Novartis in a research note on Saturday, September 27th. Finally, Morgan Stanley raised Novartis from an “underweight” rating to an “equal weight” rating and set a $123.00 price objective for the company in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $120.33.

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.