First Interstate Bank lessened its position in shares of Novartis AG (NYSE:NVS) by 14.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,821 shares of the company’s stock after selling 2,163 shares during the quarter. First Interstate Bank’s holdings in Novartis AG were worth $1,101,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. ProVise Management Group LLC grew its position in Novartis AG by 12.6% during the third quarter. ProVise Management Group LLC now owns 95,773 shares of the company’s stock valued at $8,221,000 after buying an additional 10,732 shares during the period. Mawer Investment Management Ltd. grew its position in Novartis AG by 2.2% during the third quarter. Mawer Investment Management Ltd. now owns 2,665,258 shares of the company’s stock valued at $228,812,000 after buying an additional 58,133 shares during the period. Pacer Advisors Inc. grew its position in Novartis AG by 6.7% during the third quarter. Pacer Advisors Inc. now owns 23,512 shares of the company’s stock valued at $2,019,000 after buying an additional 1,482 shares during the period. Exencial Wealth Advisors LLC grew its position in Novartis AG by 0.7% during the third quarter. Exencial Wealth Advisors LLC now owns 176,254 shares of the company’s stock valued at $15,131,000 after buying an additional 1,215 shares during the period. Finally, Girard Partners LTD. acquired a new stake in Novartis AG during the third quarter valued at $243,000. Institutional investors own 10.74% of the company’s stock.

Novartis AG (NYSE NVS) traded down $0.76 on Tuesday, reaching $83.22. 4,008,600 shares of the company’s stock traded hands, compared to its average volume of 2,330,738. The company has a current ratio of 1.08, a quick ratio of 0.81 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $198,662.67, a P/E ratio of 17.68, a price-to-earnings-growth ratio of 2.68 and a beta of 0.72. Novartis AG has a fifty-two week low of $66.93 and a fifty-two week high of $86.90.

Novartis AG (NYSE:NVS) last posted its quarterly earnings data on Tuesday, October 24th. The company reported $1.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.04. The business had revenue of $12.41 billion for the quarter, compared to the consensus estimate of $12.21 billion. Novartis AG had a net margin of 13.73% and a return on equity of 15.77%. The company’s revenue was up 2.4% compared to the same quarter last year. During the same period last year, the firm posted $1.23 earnings per share. sell-side analysts expect that Novartis AG will post 4.75 earnings per share for the current fiscal year.

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Several analysts recently commented on NVS shares. Zacks Investment Research upgraded shares of Novartis AG from a “hold” rating to a “buy” rating and set a $96.00 price target on the stock in a research report on Tuesday, September 19th. Cowen and Company set a $90.00 price target on shares of Novartis AG and gave the company a “hold” rating in a research report on Wednesday, August 9th. BidaskClub upgraded shares of Novartis AG from a “sell” rating to a “hold” rating in a research report on Saturday, August 5th. Leerink Swann raised their price target on shares of Novartis AG from $89.00 to $91.00 and gave the company a “market perform” rating in a research report on Monday, October 23rd. Finally, J P Morgan Chase & Co restated a “neutral” rating on shares of Novartis AG in a research report on Tuesday, October 10th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company. Novartis AG has a consensus rating of “Hold” and a consensus price target of $85.32.

Novartis AG Profile

Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.

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Institutional Ownership by Quarter for Novartis AG (NYSE:NVS)

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