Foresight Capital Management Advisors Inc. Acquires 1,628 Shares of Novartis AG (NYSE:NVS)

Foresight Capital Management Advisors Inc. raised its holdings in Novartis AG (NYSE:NVS) by 7.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,875 shares of the company’s stock after purchasing an additional 1,628 shares during the period. Novartis makes up about 1.6% of Foresight Capital Management Advisors Inc.’s portfolio, making the stock its 28th largest holding. Foresight Capital Management Advisors Inc.’s holdings in Novartis were worth $2,631,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Founders Financial Securities LLC increased its position in Novartis by 3.4% during the 2nd quarter. Founders Financial Securities LLC now owns 2,832 shares of the company’s stock worth $301,000 after purchasing an additional 94 shares in the last quarter. NBC Securities Inc. lifted its stake in Novartis by 0.9% in the 2nd quarter. NBC Securities Inc. now owns 10,492 shares of the company’s stock valued at $1,116,000 after purchasing an additional 97 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Novartis by 5.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,013 shares of the company’s stock valued at $196,000 after purchasing an additional 98 shares during the last quarter. Portside Wealth Group LLC lifted its stake in Novartis by 3.4% in the 2nd quarter. Portside Wealth Group LLC now owns 3,000 shares of the company’s stock valued at $319,000 after purchasing an additional 99 shares during the last quarter. Finally, Evermay Wealth Management LLC lifted its stake in Novartis by 9.3% in the 1st quarter. Evermay Wealth Management LLC now owns 1,176 shares of the company’s stock valued at $114,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 13.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NVS. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Novartis in a research note on Friday, July 19th. The Goldman Sachs Group reissued a “neutral” rating and issued a $121.00 price objective (up previously from $119.00) on shares of Novartis in a research note on Thursday, September 5th. Barclays raised shares of Novartis to a “strong sell” rating in a research note on Monday, June 24th. Jefferies Financial Group downgraded shares of Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. Finally, Bank of America downgraded shares of Novartis from a “buy” rating to a “neutral” rating and dropped their price target for the company from $135.00 to $130.00 in a research note on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Novartis currently has a consensus rating of “Hold” and an average target price of $120.70.

Novartis Trading Down 0.1 %

NYSE NVS traded down $0.09 during mid-day trading on Monday, reaching $113.86. 1,028,949 shares of the stock were exchanged, compared to its average volume of 1,367,537. Novartis AG has a one year low of $92.19 and a one year high of $120.92. The stock has a 50 day simple moving average of $115.43 and a 200-day simple moving average of $106.68. The stock has a market cap of $232.73 billion, a P/E ratio of 15.36, a P/E/G ratio of 1.71 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 (NYSE:NVS) last announced 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. Novartis had a net margin of 33.76% and a return on equity of 34.56%. The business had revenue of $12.87 billion during the quarter, compared to the consensus estimate of $12.24 billion. During the same quarter last year, the firm earned $1.83 earnings per share. On average, analysts anticipate that Novartis AG will post 7.5 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.