Financial Counselors Inc. Has $29.88 Million Stock Holdings in Novartis AG (NYSE:NVS)

Financial Counselors Inc. trimmed its position in Novartis AG (NYSE:NVS) by 0.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 259,813 shares of the company’s stock after selling 375 shares during the quarter. Financial Counselors Inc.’s holdings in Novartis were worth $29,884,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. New Millennium Group LLC bought a new stake in Novartis during the second quarter valued at about $28,000. Lynx Investment Advisory acquired a new position in shares of Novartis during the 2nd quarter worth about $29,000. Industrial Alliance Investment Management Inc. bought a new stake in Novartis during the 2nd quarter valued at approximately $30,000. Richardson Financial Services Inc. acquired a new stake in Novartis in the 2nd quarter valued at approximately $30,000. Finally, Beacon Capital Management LLC increased its position in Novartis by 149.3% in the 1st quarter. Beacon Capital Management LLC now owns 354 shares of the company’s stock worth $34,000 after buying an additional 212 shares during the period. 13.12% of the stock is owned by institutional investors.

Novartis Stock Performance

NYSE:NVS opened at $104.87 on Thursday. The firm has a market capitalization of $214.35 billion, a PE ratio of 12.18, a price-to-earnings-growth ratio of 1.49 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 AG has a 12-month low of $92.35 and a 12-month high of $120.92. The firm has a 50-day moving average price of $111.14 and a 200 day moving average price of $110.20.

Novartis (NYSE:NVS) last issued its earnings results 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. Novartis had a return on equity of 34.80% and a net margin of 35.96%. The business had revenue of $12.82 billion during the quarter, compared to analysts’ expectations of $12.62 billion. During the same period in the prior year, the firm posted $1.74 EPS. Research analysts anticipate that Novartis AG will post 7.66 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on NVS shares. BMO Capital Markets increased their price objective on Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group reissued a “neutral” rating and issued a $121.00 price target (up from $119.00) on shares of Novartis in a report on Thursday, September 5th. Jefferies Financial Group downgraded shares of Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. Erste Group Bank reiterated a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. Finally, Bank of America lowered Novartis from a “buy” rating to a “neutral” rating and lowered their price target for the company from $135.00 to $130.00 in a research note on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $121.50.

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.