SYSTM Wealth Solutions LLC Sells 659 Shares of Novartis AG (NYSE:NVS)

SYSTM Wealth Solutions LLC lessened its stake in shares of Novartis AG (NYSE:NVS) by 14.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,771 shares of the company’s stock after selling 659 shares during the quarter. SYSTM Wealth Solutions LLC’s holdings in Novartis were worth $402,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Raymond James & Associates grew its holdings in Novartis by 1.3% in the 2nd quarter. Raymond James & Associates now owns 536,607 shares of the company’s stock worth $57,127,000 after acquiring an additional 6,767 shares during the last quarter. Manning & Napier Advisors LLC purchased a new position in Novartis during the 2nd quarter valued at about $15,044,000. O Shaughnessy Asset Management LLC raised its position in Novartis by 6.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 180,764 shares of the company’s stock valued at $17,485,000 after purchasing an additional 11,080 shares during the last quarter. TD Asset Management Inc lifted its holdings in Novartis by 314.8% in the 4th quarter. TD Asset Management Inc now owns 55,096 shares of the company’s stock worth $5,563,000 after buying an additional 41,815 shares during the period. Finally, FORA Capital LLC bought a new stake in shares of Novartis in the 1st quarter worth approximately $2,968,000. 13.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on NVS shares. Bank of America downgraded Novartis from a “buy” rating to a “neutral” rating and decreased their target price for the company from $135.00 to $130.00 in a report on Wednesday, September 11th. Jefferies Financial Group cut shares of Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd. Barclays raised shares of Novartis to a “strong sell” rating in a research note on Monday, June 24th. 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 research note on Thursday, September 5th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Novartis in a research report on Friday, July 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $120.70.

Novartis Stock Up 0.3 %

NYSE:NVS opened at $115.99 on Thursday. The firm’s 50-day moving average price is $114.03 and its 200-day moving average price is $105.28. The company has a market capitalization of $237.08 billion, a PE ratio of 15.65, a P/E/G ratio of 1.73 and a beta of 0.57. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.93 and a quick ratio of 0.72. Novartis AG has a 1-year low of $92.19 and a 1-year high of $120.92.

Novartis (NYSE:NVS) last released its earnings results on Thursday, July 18th. The company reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.10. The firm had revenue of $12.87 billion for the quarter, compared to the consensus estimate of $12.24 billion. Novartis had a net margin of 33.76% and a return on equity of 34.56%. During the same period in the prior year, the firm earned $1.83 EPS. On average, equities analysts predict that Novartis AG will post 7.5 EPS for the current fiscal year.

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.