Novartis AG $NVS Shares Sold by MGO One Seven LLC

MGO One Seven LLC decreased its holdings in Novartis AG (NYSE:NVS) by 50.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,758 shares of the company’s stock after selling 12,802 shares during the quarter. MGO One Seven LLC’s holdings in Novartis were worth $1,819,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Bank of America Corp DE increased its position in shares of Novartis by 9.1% during the 1st quarter. Bank of America Corp DE now owns 4,962,794 shares of the company’s stock worth $758,067,000 after purchasing an additional 413,778 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Novartis by 0.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,330,979 shares of the company’s stock valued at $365,308,000 after purchasing an additional 19,595 shares during the last quarter. Janus Henderson Group PLC boosted its position in Novartis by 1.9% in the first quarter. Janus Henderson Group PLC now owns 2,275,938 shares of the company’s stock valued at $347,649,000 after buying an additional 41,520 shares in the last quarter. WCM Investment Management LLC acquired a new position in Novartis in the first quarter valued at about $220,004,000. Finally, Sei Investments Co. boosted its position in Novartis by 9.6% in the first quarter. Sei Investments Co. now owns 619,274 shares of the company’s stock valued at $94,594,000 after buying an additional 54,262 shares in the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

Analyst Upgrades and Downgrades

NVS has been the subject of several recent analyst reports. The Goldman Sachs Group reaffirmed a “sell” rating on shares of Novartis in a report on Monday, September 21st. Wall Street Zen raised Novartis from a “hold” rating to a “buy” rating in a report on Saturday, October 31st. DZ Bank began coverage on Novartis in a research report on Wednesday, October 28th. They set a “hold” rating on the stock. Sanford C. Bernstein reaffirmed a “neutral” rating on shares of Novartis in a report on Wednesday, July 22nd. Finally, Citigroup reaffirmed a “buy” rating on shares of Novartis in a report on Wednesday, July 22nd. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Novartis has an average rating of “Hold” and a consensus price target of $152.25.

Novartis Price Performance

NVS opened at $164.98 on Thursday. The company has a fifty day moving average price of $148.58 and a two-hundred day moving average price of $152.07. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.70 and a current ratio of 0.88. Novartis AG has a 52 week low of $123.24 and a 52 week high of $170.46. The firm has a market capitalization of $314.81 billion, a PE ratio of 31.49, a P/E/G ratio of 2.93 and a beta of 0.40.

Novartis (NYSE:NVS) last posted its earnings results on Tuesday, October 27th. The company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.21. Novartis had a return on equity of 41.04% and a net margin of 18.11%. The company had revenue of $15.03 billion during the quarter, compared to analyst estimates of $14.53 billion. During the same period in the previous year, the company earned $2.25 EPS. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, analysts anticipate that Novartis AG will post 9.04 earnings per share for the current year.

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.