Bank of New York Mellon Corp Decreases Holdings in Novartis AG $NVS

Bank of New York Mellon Corp decreased its stake in Novartis AG (NYSE:NVS) by 41.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 316,360 shares of the company’s stock after selling 225,937 shares during the period. Bank of New York Mellon Corp’s holdings in Novartis were worth $38,283,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. WPG Advisers LLC purchased a new stake in shares of Novartis during the 1st quarter worth approximately $25,000. GFG Capital LLC purchased a new position in Novartis in the second quarter valued at approximately $26,000. Barrett & Company Inc. purchased a new stake in Novartis in the second quarter worth $31,000. MCF Advisors LLC raised its stake in shares of Novartis by 66.0% in 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. Finally, Investment Management Corp VA ADV lifted its position in shares of 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 buying an additional 198 shares during the last quarter. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Novartis in a report on Friday, October 31st. Wall Street Zen lowered shares of Novartis from a “strong-buy” rating to a “hold” rating in a research report on Saturday, November 1st. Jefferies Financial Group restated a “hold” rating on shares of Novartis in a research note on Monday, October 27th. HC Wainwright lowered shares of Novartis to a “neutral” rating in a research note on Monday, October 27th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Novartis in a report on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Novartis presently has a consensus rating of “Hold” and an average target price of $122.33.

Novartis Stock Up 1.3%

NVS stock opened at $132.18 on Thursday. The company’s 50 day moving average is $127.47 and its 200 day moving average is $121.12. The stock has a market cap of $279.22 billion, a price-to-earnings ratio of 18.06, a price-to-earnings-growth ratio of 1.93 and a beta of 0.60. The company has a current ratio of 0.88, a quick ratio of 0.62 and a debt-to-equity ratio of 0.50. Novartis AG has a 1-year low of $96.06 and a 1-year high of $133.55.

Novartis (NYSE:NVS) last released its quarterly earnings results on Tuesday, October 28th. The company reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.01). The company had revenue of $13.91 billion during the quarter, compared to analysts’ expectations of $13.70 billion. Novartis had a return on equity of 41.21% and a net margin of 26.49%.Novartis’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.06 EPS. Sell-side analysts predict that Novartis AG will post 8.45 EPS for the current fiscal 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.