CFO4Life Group LLC Has $672,000 Stake in Novartis AG $NVS

CFO4Life Group LLC reduced its stake in shares of Novartis AG (NYSE:NVS) by 7.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,551 shares of the company’s stock after selling 438 shares during the quarter. CFO4Life Group LLC’s holdings in Novartis were worth $672,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of NVS. GFG Capital LLC acquired a new position in Novartis during the second quarter valued at approximately $26,000. WPG Advisers LLC bought a new position in shares of Novartis during the first quarter worth $25,000. Legacy Investment Solutions LLC acquired a new position in shares of Novartis in the 2nd quarter valued at $30,000. Barrett & Company Inc. bought a new stake in shares of Novartis in the 2nd quarter valued at $31,000. Finally, MCF Advisors LLC raised its stake in Novartis by 66.0% during the 2nd quarter. MCF Advisors LLC now owns 264 shares of the company’s stock worth $32,000 after buying an additional 105 shares during the period. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Stock Down 0.6%

Shares of NVS stock opened at $131.16 on Friday. Novartis AG has a 52-week low of $96.06 and a 52-week high of $134.00. The stock has a market cap of $277.07 billion, a price-to-earnings ratio of 17.92, a PEG ratio of 1.93 and a beta of 0.60. The firm’s 50-day moving average is $127.56 and its 200-day moving average is $121.32. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.62 and a current ratio of 0.88.

Novartis (NYSE:NVS) last posted 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 business had revenue of $13.91 billion for the quarter, compared to the consensus estimate of $13.70 billion. Novartis had a return on equity of 41.21% and a net margin of 26.49%.The company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.06 EPS. Sell-side analysts predict that Novartis AG will post 8.45 EPS for the current year.

Analyst Ratings Changes

NVS has been the subject of several recent analyst reports. Morgan Stanley upgraded Novartis from an “equal weight” rating to an “overweight” rating in a report on Friday, October 31st. The Goldman Sachs Group reissued a “sell” rating and set a $118.00 target price (down from $119.00) on shares of Novartis in a research note on Friday, September 12th. Cfra set a $126.00 price target on shares of Novartis and gave the company a “hold” rating in a research note on Wednesday, October 29th. Jefferies Financial Group restated a “hold” rating on shares of Novartis in a report on Monday, October 27th. Finally, Cowen reaffirmed a “hold” rating on shares of Novartis in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Novartis presently has an average rating of “Hold” and a consensus target price of $122.33.

About Novartis

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.