Bar Harbor Wealth Management Has $371,000 Stake in Novartis AG $NVS

Bar Harbor Wealth Management trimmed its position in shares of Novartis AG (NYSE:NVS) by 8.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,063 shares of the company’s stock after selling 300 shares during the period. Bar Harbor Wealth Management’s holdings in Novartis were worth $371,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of Novartis by 76.5% in the fourth quarter. Brighton Jones LLC now owns 6,153 shares of the company’s stock valued at $599,000 after purchasing an additional 2,666 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Novartis by 11.1% in the first quarter. Rhumbline Advisers now owns 38,600 shares of the company’s stock valued at $4,303,000 after purchasing an additional 3,846 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Novartis by 27.7% in the first quarter. Farther Finance Advisors LLC now owns 15,628 shares of the company’s stock valued at $1,713,000 after purchasing an additional 3,389 shares during the last quarter. Wealthcare Advisory Partners LLC increased its holdings in shares of Novartis by 9.0% in the first quarter. Wealthcare Advisory Partners LLC now owns 3,041 shares of the company’s stock valued at $339,000 after purchasing an additional 252 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Novartis by 29.9% in the first quarter. GAMMA Investing LLC now owns 6,524 shares of the company’s stock valued at $727,000 after purchasing an additional 1,500 shares during the last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Stock Down 1.0%

NVS stock opened at $131.04 on Friday. The stock has a market capitalization of $276.81 billion, a P/E ratio of 19.07, a price-to-earnings-growth ratio of 1.83 and a beta of 0.64. The company has a current ratio of 0.82, a quick ratio of 0.62 and a debt-to-equity ratio of 0.53. Novartis AG has a 12 month low of $96.06 and a 12 month high of $133.55. The firm has a 50-day moving average price of $124.85 and a 200-day moving average price of $117.72.

Novartis (NYSE:NVS) last posted its earnings results on Thursday, July 17th. The company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.04. Novartis had a net margin of 25.64% and a return on equity of 41.08%. The firm had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $13.94 billion. During the same quarter in the prior year, the business earned $1.97 earnings per share. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Novartis AG will post 8.45 EPS for the current fiscal year.

Analyst Ratings Changes

NVS has been the topic of several research reports. Wall Street Zen downgraded shares of Novartis from a “strong-buy” rating to a “buy” rating in a report on Friday, August 22nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Novartis in a report on Thursday, August 21st. The Goldman Sachs Group reissued a “sell” rating and issued a $118.00 target price (down previously from $119.00) on shares of Novartis in a research report on Friday, September 12th. Morgan Stanley raised shares of Novartis from an “underweight” rating to an “equal weight” rating and set a $123.00 target price for the company in a research report on Friday, August 8th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Novartis in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Novartis has a consensus rating of “Hold” and an average 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.