NBT Bank N.A. Purchases 26,937 Shares of Novartis AG $NVS

NBT Bank N.A. acquired a new stake in shares of Novartis AG (NYSE:NVS) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 26,937 shares of the company’s stock, valued at approximately $3,840,000.

A number of other hedge funds have also added to or reduced their stakes in NVS. Root Financial Partners LLC purchased a new stake in Novartis in the third quarter worth about $232,000. Cardinal Capital Management boosted its position in Novartis by 1.8% during the 3rd quarter. Cardinal Capital Management now owns 50,575 shares of the company’s stock valued at $7,210,000 after acquiring an additional 905 shares in the last quarter. Strengthening Families & Communities LLC boosted its position in Novartis by 137.0% during the 3rd quarter. Strengthening Families & Communities LLC now owns 237 shares of the company’s stock valued at $34,000 after acquiring an additional 137 shares in the last quarter. City State Bank grew its holdings in shares of Novartis by 13.8% during the 3rd quarter. City State Bank now owns 974 shares of the company’s stock worth $139,000 after acquiring an additional 118 shares during the period. Finally, Quadrant Capital Group LLC grew its holdings in shares of Novartis by 0.9% during the 3rd quarter. Quadrant Capital Group LLC now owns 61,543 shares of the company’s stock worth $8,764,000 after acquiring an additional 543 shares during the period. 13.12% of the stock is owned by hedge funds and other institutional investors.

Novartis Trading Up 1.5%

NYSE:NVS opened at $156.24 on Friday. The firm has a market capitalization of $298.13 billion, a P/E ratio of 23.57, a PEG ratio of 2.79 and a beta of 0.41. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.86 and a quick ratio of 0.67. Novartis AG has a one year low of $121.57 and a one year high of $170.46. The company’s 50-day simple moving average is $148.31 and its 200 day simple moving average is $150.46.

Novartis (NYSE:NVS) last announced its earnings results on Tuesday, June 30th. The company reported $2.41 earnings per share for the quarter. Novartis had a net margin of 23.29% and a return on equity of 38.56%. The business had revenue of $14.95 billion during the quarter. As a group, analysts forecast that Novartis AG will post 8.91 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on NVS. JPMorgan Chase & Co. reissued a “buy” rating on shares of Novartis in a research report on Sunday, August 9th. Sanford C. Bernstein restated a “neutral” rating on shares of Novartis in a research report on Wednesday, July 22nd. The Goldman Sachs Group reaffirmed a “sell” rating on shares of Novartis in a research note on Monday, September 21st. Citigroup reiterated a “buy” rating on shares of Novartis in a report on Wednesday, July 22nd. Finally, HSBC upgraded Novartis from a “reduce” rating to a “hold” rating and increased their price objective for the stock from $123.00 to $136.00 in a report on Thursday, September 10th. Six analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $145.60.

Novartis Profile

Novartis AG is a Switzerland-based pharmaceutical company focused on the discovery, development and commercialization of innovative medicines. The company’s research and commercial activities span areas including cardiovascular, renal and metabolic diseases, immunology, neuroscience, oncology and hematology. Its portfolio includes prescription medicines such as Entresto, Cosentyx, Kisqali, Kesimpta, Leqvio, Pluvicto and Scemblix.

Novartis serves patients and healthcare providers in markets around the world.