Roberts Glore & Co. Inc. IL Trims Stock Position in Novartis AG $NVS

Roberts Glore & Co. Inc. IL lessened its holdings in Novartis AG (NYSE:NVS) by 4.5% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,508 shares of the company’s stock after selling 631 shares during the period. Roberts Glore & Co. Inc. IL’s holdings in Novartis were worth $1,635,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Essex Savings Bank increased its holdings in Novartis by 1.9% during the second quarter. Essex Savings Bank now owns 4,611 shares of the company’s stock valued at $558,000 after buying an additional 85 shares during the last quarter. Physician Wealth Advisors Inc. grew its position in shares of Novartis by 5.8% during the 2nd quarter. Physician Wealth Advisors Inc. now owns 1,541 shares of the company’s stock valued at $186,000 after acquiring an additional 85 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. increased its stake in shares of Novartis by 4.4% in the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 2,062 shares of the company’s stock worth $250,000 after purchasing an additional 87 shares in the last quarter. Forum Financial Management LP raised its holdings in Novartis by 0.4% in the 2nd quarter. Forum Financial Management LP now owns 24,607 shares of the company’s stock worth $2,978,000 after purchasing an additional 88 shares during the period. Finally, Avidian Wealth Enterprises LLC lifted its position in Novartis by 1.2% during the second quarter. Avidian Wealth Enterprises LLC now owns 7,749 shares of the company’s stock valued at $938,000 after purchasing an additional 90 shares in the last quarter. 13.12% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Novartis in a research report on Friday, October 31st. Jefferies Financial Group reissued a “hold” rating on shares of Novartis in a report on Monday, October 27th. Morgan Stanley raised shares of Novartis from an “equal weight” rating to an “overweight” rating in a report on Friday, October 31st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Novartis in a research report on Thursday, August 21st. Finally, Cfra Research raised shares of Novartis to a “hold” rating in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $122.33.

Novartis Trading Down 0.1%

NVS stock opened at $126.43 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.88 and a quick ratio of 0.62. Novartis AG has a 1-year low of $96.06 and a 1-year high of $133.55. The business has a 50 day simple moving average of $127.30 and a two-hundred day simple moving average of $120.72. The company has a market capitalization of $267.06 billion, a price-to-earnings ratio of 17.27, a PEG ratio of 1.93 and a beta of 0.60.

Novartis (NYSE:NVS) last released its earnings results on Tuesday, October 28th. The company reported $2.25 EPS for the quarter, missing the consensus estimate of $2.26 by ($0.01). Novartis had a return on equity of 41.21% and a net margin of 26.49%.The company had revenue of $13.91 billion during the quarter, compared to analysts’ expectations of $13.70 billion. During the same period last year, the firm posted $2.06 EPS. Novartis’s quarterly revenue was up 8.5% compared to the same quarter last year. Research analysts anticipate that Novartis AG will post 8.45 EPS for the current fiscal 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.