SevenBridge Financial Group LLC Boosts Stake in Novartis AG (NVS)

SevenBridge Financial Group LLC increased its position in Novartis AG (NYSE:NVS) by 6.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 18,762 shares of the company’s stock after purchasing an additional 1,124 shares during the period. SevenBridge Financial Group LLC’s holdings in Novartis were worth $1,611,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of NVS. WFG Advisors LP increased its position in Novartis by 38.1% in the 2nd quarter. WFG Advisors LP now owns 1,221 shares of the company’s stock valued at $102,000 after acquiring an additional 337 shares during the period. Cable Hill Partners LLC increased its position in Novartis by 588.8% in the 3rd quarter. Cable Hill Partners LLC now owns 1,295 shares of the company’s stock valued at $112,000 after acquiring an additional 1,107 shares during the period. Harding Loevner LP acquired a new position in Novartis in the 2nd quarter valued at about $146,000. Mosaic Family Wealth LLC increased its position in Novartis by 6.1% in the 2nd quarter. Mosaic Family Wealth LLC now owns 2,144 shares of the company’s stock valued at $179,000 after acquiring an additional 123 shares during the period. Finally, Barrett Asset Management LLC increased its position in Novartis by 650.0% in the 2nd quarter. Barrett Asset Management LLC now owns 2,250 shares of the company’s stock valued at $188,000 after acquiring an additional 1,950 shares during the period. 10.87% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have issued reports on NVS shares. Barclays cut Novartis from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, October 25th. BidaskClub upgraded Novartis from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. Zacks Investment Research upgraded Novartis from a “hold” rating to a “buy” rating and set a $96.00 price target on the stock in a report on Tuesday, September 19th. J P Morgan Chase & Co restated a “neutral” rating on shares of Novartis in a report on Tuesday, October 31st. Finally, Leerink Swann upped their price target on Novartis from $89.00 to $91.00 and gave the stock a “market perform” rating in a report on Monday, October 23rd. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $85.32.

Shares of Novartis AG (NVS) traded up $0.25 during trading on Monday, hitting $86.05. The company’s stock had a trading volume of 1,178,700 shares, compared to its average volume of 2,291,198. Novartis AG has a one year low of $66.93 and a one year high of $86.90. The stock has a market cap of $203,559.45, a price-to-earnings ratio of 18.12, a PEG ratio of 2.74 and a beta of 0.73. The company has a current ratio of 1.08, a quick ratio of 0.81 and a debt-to-equity ratio of 0.32.

Novartis (NYSE:NVS) last issued its quarterly earnings results on Tuesday, October 24th. The company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.04. Novartis had a return on equity of 15.77% and a net margin of 13.73%. The company had revenue of $12.41 billion for the quarter, compared to analyst estimates of $12.21 billion. During the same quarter in the prior year, the company posted $1.23 EPS. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. analysts forecast that Novartis AG will post 4.75 EPS for the current fiscal year.

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About Novartis

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 (NYSE:NVS)

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