Continuum Advisory LLC Has $107,000 Position in Novartis AG (NYSE:NVS)

Continuum Advisory LLC decreased its position in shares of Novartis AG (NYSE:NVS) by 10.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 926 shares of the company’s stock after selling 109 shares during the period. Continuum Advisory LLC’s holdings in Novartis were worth $107,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Founders Financial Securities LLC increased its stake in shares of Novartis by 3.4% in the 2nd quarter. Founders Financial Securities LLC now owns 2,832 shares of the company’s stock valued at $301,000 after purchasing an additional 94 shares during the last quarter. Steigerwald Gordon & Koch Inc. grew its position in Novartis by 4.8% in the third quarter. Steigerwald Gordon & Koch Inc. now owns 2,091 shares of the company’s stock valued at $241,000 after acquiring an additional 95 shares during the last quarter. Centaurus Financial Inc. raised its stake in Novartis by 1.7% during the third quarter. Centaurus Financial Inc. now owns 5,728 shares of the company’s stock worth $659,000 after acquiring an additional 98 shares in the last quarter. Portside Wealth Group LLC lifted its holdings in shares of Novartis by 3.4% in the second quarter. Portside Wealth Group LLC now owns 3,000 shares of the company’s stock worth $319,000 after acquiring an additional 99 shares during the last quarter. Finally, Essex LLC boosted its stake in shares of Novartis by 4.3% in the 2nd quarter. Essex LLC now owns 2,450 shares of the company’s stock valued at $261,000 after purchasing an additional 100 shares in the last quarter. 13.12% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NVS. Erste Group Bank reiterated a “hold” rating on shares of Novartis in a research report on Tuesday, November 19th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $121.00 price target (up from $119.00) on shares of Novartis in a research note on Thursday, September 5th. BMO Capital Markets boosted their price objective on Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Jefferies Financial Group downgraded Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd. Finally, HSBC lowered Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. Two research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $121.50.

Novartis Stock Down 1.0 %

Shares of NYSE:NVS opened at $99.17 on Thursday. The firm has a market cap of $202.70 billion, a P/E ratio of 11.52, a P/E/G ratio of 1.47 and a beta of 0.56. Novartis AG has a 12-month low of $92.35 and a 12-month high of $120.92. The business has a fifty day simple moving average of $108.87 and a 200 day simple moving average of $110.30. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 0.55.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. Novartis had a return on equity of 34.80% and a net margin of 35.96%. The company had revenue of $12.82 billion during the quarter, compared to the consensus estimate of $12.62 billion. During the same period last year, the company earned $1.74 earnings per share. Analysts predict that Novartis AG will post 7.66 earnings per share for the current year.

Novartis Company 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.