Foresight Global Investors Inc. Has $19.96 Million Stock Position in Novartis AG $NVS

Foresight Global Investors Inc. reduced its stake in shares of Novartis AG (NYSE:NVS) by 12.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 164,924 shares of the company’s stock after selling 22,901 shares during the quarter. Novartis comprises approximately 14.2% of Foresight Global Investors Inc.’s holdings, making the stock its 2nd largest position. Foresight Global Investors Inc.’s holdings in Novartis were worth $19,957,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Keybank National Association OH boosted its holdings in shares of Novartis by 13.2% during the 2nd quarter. Keybank National Association OH now owns 49,377 shares of the company’s stock valued at $5,975,000 after purchasing an additional 5,742 shares during the last quarter. Sonora Investment Management Group LLC purchased a new stake in shares of Novartis during the 2nd quarter worth approximately $266,000. Cypress Capital Group grew its holdings in shares of Novartis by 84.1% in the second quarter. Cypress Capital Group now owns 5,776 shares of the company’s stock valued at $699,000 after purchasing an additional 2,638 shares in the last quarter. Focus Partners Wealth raised its stake in Novartis by 16.8% during the first quarter. Focus Partners Wealth now owns 47,548 shares of the company’s stock valued at $5,311,000 after purchasing an additional 6,849 shares in the last quarter. Finally, Marshall Financial Group LLC bought a new position in Novartis during the second quarter valued at $1,909,000. Institutional investors own 13.12% of the company’s stock.

Novartis Stock Performance

Shares of NYSE:NVS opened at $130.44 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.62 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $275.54 billion, a price-to-earnings ratio of 17.82, a PEG ratio of 1.93 and a beta of 0.60. Novartis AG has a 12 month low of $96.06 and a 12 month high of $134.00. The firm’s 50-day moving average is $128.00 and its 200 day moving average is $122.30.

Novartis (NYSE:NVS) last released its 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). Novartis had a net margin of 26.49% and a return on equity of 41.21%. The business had revenue of $14.36 billion for the quarter, compared to the consensus estimate of $13.70 billion. During the same period in the prior year, the company posted $2.06 EPS. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. Research analysts predict that Novartis AG will post 8.45 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Cowen restated a “hold” rating on shares of Novartis in a report on Monday, November 10th. Morgan Stanley upgraded Novartis from an “equal weight” rating to an “overweight” rating in a research report on Friday, October 31st. Bank of America raised Novartis from a “neutral” rating to a “buy” rating in a research note on Tuesday. Wall Street Zen lowered Novartis from a “strong-buy” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, The Goldman Sachs Group reiterated a “sell” rating and issued a $118.00 target price (down previously from $119.00) on shares of Novartis in a report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $122.33.

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.