Peoples Financial Services CORP. Lowers Stock Holdings in Novartis AG $NVS

Peoples Financial Services CORP. trimmed its stake in Novartis AG (NYSE:NVS) by 15.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,755 shares of the company’s stock after selling 329 shares during the period. Peoples Financial Services CORP.’s holdings in Novartis were worth $212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of NVS. WPG Advisers LLC purchased a new stake in shares of Novartis in the 1st quarter worth approximately $25,000. Tsfg LLC lifted its position in Novartis by 366.0% during the first quarter. Tsfg LLC now owns 233 shares of the company’s stock valued at $26,000 after acquiring an additional 183 shares during the last quarter. MCF Advisors LLC increased its stake in Novartis by 66.0% during the 2nd quarter. MCF Advisors LLC now owns 264 shares of the company’s stock valued at $32,000 after purchasing an additional 105 shares in the last quarter. Alpine Bank Wealth Management acquired a new position in Novartis during the 1st quarter valued at approximately $33,000. Finally, Investment Management Corp VA ADV increased its stake in Novartis by 172.2% during the 1st quarter. Investment Management Corp VA ADV now owns 313 shares of the company’s stock valued at $35,000 after purchasing an additional 198 shares in the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Novartis in a research note on Thursday, August 21st. Wall Street Zen downgraded shares of Novartis from a “strong-buy” rating to a “buy” rating in a report on Friday, August 22nd. Morgan Stanley raised shares of Novartis from an “underweight” rating to an “equal weight” rating and set a $123.00 price target on the stock in a research note on Friday, August 8th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and issued a $118.00 price target (down from $119.00) on shares of Novartis in a research note on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $120.33.

Novartis Price Performance

Shares of NVS stock opened at $123.75 on Monday. Novartis AG has a 12 month low of $96.06 and a 12 month high of $130.46. The company has a market capitalization of $261.41 billion, a PE ratio of 18.01, a price-to-earnings-growth ratio of 1.73 and a beta of 0.63. The firm’s 50-day moving average is $122.31 and its two-hundred day moving average is $116.62. 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 (NYSE:NVS) last announced its quarterly earnings results on Thursday, July 17th. The company reported $2.42 earnings per share for the quarter, beating 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 business had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $13.94 billion. During the same period last year, the business earned $1.97 earnings per share. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. Analysts predict that Novartis AG will post 8.45 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.