Elmwood Wealth Management Inc. Sells 98 Shares of Novartis AG $NVS

Elmwood Wealth Management Inc. lowered its holdings in shares of Novartis AG (NYSE:NVS) by 3.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,553 shares of the company’s stock after selling 98 shares during the quarter. Elmwood Wealth Management Inc.’s holdings in Novartis were worth $309,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. WPG Advisers LLC bought a new position in shares of Novartis in the 1st quarter worth approximately $25,000. Tsfg LLC lifted its stake in shares of Novartis by 366.0% in the 1st quarter. Tsfg LLC now owns 233 shares of the company’s stock worth $26,000 after purchasing an additional 183 shares during the period. GFG Capital LLC bought a new position in shares of Novartis in the 2nd quarter worth approximately $26,000. Barrett & Company Inc. bought a new position in shares of Novartis in the 2nd quarter worth approximately $31,000. Finally, MCF Advisors LLC increased its position in Novartis by 66.0% in the second quarter. MCF Advisors LLC now owns 264 shares of the company’s stock worth $32,000 after buying an additional 105 shares in the last quarter. Institutional investors own 13.12% of the company’s stock.

Novartis Stock Performance

NYSE:NVS opened at $129.31 on Tuesday. The company has a current ratio of 0.82, a quick ratio of 0.62 and a debt-to-equity ratio of 0.53. Novartis AG has a 12-month low of $96.06 and a 12-month high of $133.55. The stock has a 50-day moving average price of $125.37 and a 200 day moving average price of $118.07. The stock has a market capitalization of $273.16 billion, a P/E ratio of 18.82, a P/E/G ratio of 1.80 and a beta of 0.64.

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

Analyst Upgrades and Downgrades

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

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.