Novartis AG (NYSE:NVS) Shares Sold by Hexagon Capital Partners LLC

Hexagon Capital Partners LLC cut its stake in shares of Novartis AG (NYSE:NVS) by 6.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,613 shares of the company’s stock after selling 241 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Novartis were worth $349,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Private Ocean LLC purchased a new stake in shares of Novartis in the first quarter valued at approximately $25,000. Frazier Financial Advisors LLC purchased a new stake in shares of Novartis in the fourth quarter valued at $26,000. Richardson Financial Services Inc. purchased a new stake in Novartis during the 4th quarter worth about $26,000. Planned Solutions Inc. acquired a new position in Novartis in the 4th quarter valued at about $31,000. Finally, AdvisorNet Financial Inc lifted its holdings in Novartis by 480.0% in the 4th quarter. AdvisorNet Financial Inc now owns 348 shares of the company’s stock valued at $35,000 after purchasing an additional 288 shares in the last quarter. 13.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NVS has been the topic of several recent analyst reports. The Goldman Sachs Group initiated coverage on shares of Novartis in a research note on Thursday, May 30th. They set a “buy” rating and a $120.00 price objective on the stock. BMO Capital Markets raised their price objective on Novartis from $114.00 to $116.00 and gave the stock a “market perform” rating in a report on Wednesday, April 24th. Finally, Barclays upgraded Novartis to a “strong sell” rating in a research note on Monday, June 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Novartis currently has an average rating of “Hold” and an average target price of $116.67.

Novartis Stock Up 0.1 %

Shares of NYSE NVS opened at $106.54 on Tuesday. The stock has a market capitalization of $217.77 billion, a PE ratio of 14.38, a P/E/G ratio of 1.64 and a beta of 0.57. The company has a quick ratio of 0.71, a current ratio of 0.90 and a debt-to-equity ratio of 0.43. The firm has a fifty day moving average of $102.22 and a 200-day moving average of $101.22. Novartis AG has a 52-week low of $92.19 and a 52-week high of $108.78.

Novartis (NYSE:NVS) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.73 by $0.07. Novartis had a return on equity of 32.15% and a net margin of 31.33%. The company had revenue of $11.83 billion during the quarter, compared to analyst estimates of $11.50 billion. On average, analysts anticipate that Novartis AG will post 7.27 EPS for the current year.

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.