Novartis AG $NVS Holdings Lowered by NORTHSTAR ASSET MANAGEMENT Co

NORTHSTAR ASSET MANAGEMENT Co trimmed its stake in shares of Novartis AG (NYSE:NVS) by 2.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,125 shares of the company’s stock after selling 350 shares during the period. NORTHSTAR ASSET MANAGEMENT Co’s holdings in Novartis were worth $1,709,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. WPG Advisers LLC purchased a new stake in shares of Novartis during the first quarter valued at $25,000. Tsfg LLC lifted its holdings in shares of Novartis by 366.0% during the first quarter. Tsfg LLC now owns 233 shares of the company’s stock valued at $26,000 after purchasing an additional 183 shares during the last quarter. GFG Capital LLC purchased a new stake in shares of Novartis during the second quarter valued at $26,000. Barrett & Company Inc. purchased a new stake in shares of Novartis during the second quarter valued at $31,000. Finally, MCF Advisors LLC raised its position in Novartis by 66.0% during the second quarter. MCF Advisors LLC now owns 264 shares of the company’s stock valued at $32,000 after buying an additional 105 shares during the period. 13.12% of the stock is owned by hedge funds and other institutional investors.

Novartis Stock Performance

Shares of NVS stock opened at $130.48 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.82 and a quick ratio of 0.62. Novartis AG has a fifty-two week low of $96.06 and a fifty-two week high of $133.55. The stock’s 50-day moving average is $127.56 and its two-hundred day moving average is $119.37. The firm has a market cap of $275.64 billion, a P/E ratio of 18.99, a PEG ratio of 1.84 and a beta of 0.64.

Analyst Upgrades and Downgrades

NVS has been the topic of several recent analyst reports. Morgan Stanley raised Novartis from an “underweight” rating to an “equal weight” rating and set a $123.00 price target on the stock in a research report on Friday, August 8th. Wall Street Zen raised Novartis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Weiss Ratings reissued a “buy (b)” rating on shares of Novartis in a research report on Wednesday, October 8th. The Goldman Sachs Group reissued 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. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Novartis in a research report on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $120.33.

Novartis Profile

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.