Sittner & Nelson LLC Has $981,000 Holdings in Novartis AG (NYSE:NVS)

Sittner & Nelson LLC decreased its position in Novartis AG (NYSE:NVS) by 2.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,529 shares of the company’s stock after selling 240 shares during the period. Sittner & Nelson LLC’s holdings in Novartis were worth $981,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of NVS. Clearstead Trust LLC lifted its stake in shares of Novartis by 73.5% in the 1st quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock valued at $26,000 after purchasing an additional 114 shares during the period. New Millennium Group LLC acquired a new position in Novartis in the second quarter valued at approximately $28,000. Lynx Investment Advisory bought a new position in shares of Novartis during the 2nd quarter worth approximately $29,000. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Novartis during the 2nd quarter worth approximately $30,000. Finally, Richardson Financial Services Inc. bought a new stake in shares of Novartis in the 2nd quarter valued at $30,000. Institutional investors own 13.12% of the company’s stock.

Novartis Stock Up 0.3 %

NVS stock opened at $107.08 on Friday. The stock’s 50 day moving average is $115.11 and its 200-day moving average is $109.55. Novartis AG has a twelve month low of $92.35 and a twelve month high of $120.92. The firm has a market capitalization of $218.87 billion, a PE ratio of 12.44, a P/E/G ratio of 1.61 and a beta of 0.58. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 0.55.

Novartis (NYSE:NVS) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. The firm had revenue of $12.82 billion for the quarter, compared to the consensus estimate of $12.62 billion. Novartis had a net margin of 35.96% and a return on equity of 34.80%. During the same period in the previous year, the firm earned $1.74 EPS. Sell-side analysts expect that Novartis AG will post 7.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on NVS. BMO Capital Markets raised their price target on shares of Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Novartis in a research note on Friday, July 19th. Jefferies Financial Group downgraded Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. Bank of America cut Novartis from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $135.00 to $130.00 in a research note on Wednesday, September 11th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $121.00 target price (up from $119.00) on shares of Novartis in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $121.50.

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.