Hartford Funds Management Co LLC Has $56,000 Holdings in Novartis AG $NVS

Hartford Funds Management Co LLC lowered its position in Novartis AG (NYSE:NVS) by 93.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 465 shares of the company’s stock after selling 6,935 shares during the period. Hartford Funds Management Co LLC’s holdings in Novartis were worth $56,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of NVS. Keybank National Association OH boosted its holdings in Novartis by 13.2% during the second quarter. Keybank National Association OH now owns 49,377 shares of the company’s stock worth $5,975,000 after purchasing an additional 5,742 shares during the last quarter. Sonora Investment Management Group LLC purchased a new stake in Novartis in the second quarter worth $266,000. Cypress Capital Group lifted its holdings in Novartis by 84.1% during the second quarter. Cypress Capital Group now owns 5,776 shares of the company’s stock valued at $699,000 after purchasing an additional 2,638 shares during the last quarter. Focus Partners Wealth boosted its position in Novartis by 16.8% during the first quarter. Focus Partners Wealth now owns 47,548 shares of the company’s stock worth $5,311,000 after purchasing an additional 6,849 shares during the period. Finally, Marshall Financial Group LLC purchased a new position in shares of Novartis in the second quarter worth about $1,909,000. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on NVS shares. HC Wainwright downgraded shares of Novartis to a “neutral” rating in a report on Monday, October 27th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Novartis in a research report on Thursday, August 21st. Cfra set a $126.00 price objective on Novartis and gave the stock a “hold” rating in a report on Wednesday, October 29th. Jefferies Financial Group restated a “hold” rating on shares of Novartis in a research note on Monday, October 27th. Finally, The Goldman Sachs Group reiterated a “sell” rating and set a $118.00 price target (down from $119.00) on shares of Novartis in a research report on Friday, September 12th. 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Novartis presently has an average rating of “Hold” and a consensus target price of $122.33.

Novartis Trading Down 0.1%

Shares of NVS stock opened at $126.43 on Monday. The company has a quick ratio of 0.62, a current ratio of 0.88 and a debt-to-equity ratio of 0.50. The firm has a market cap of $267.06 billion, a P/E ratio of 17.27, a price-to-earnings-growth ratio of 1.93 and a beta of 0.60. The business has a 50-day moving average price of $127.30 and a two-hundred day moving average price of $120.80. Novartis AG has a 12-month low of $96.06 and a 12-month high of $133.55.

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

About Novartis

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.