Stonebridge Capital Management Inc. Cuts Stock Holdings in Novartis AG (NYSE:NVS)

Stonebridge Capital Management Inc. decreased its holdings in shares of Novartis AG (NYSE:NVS) by 1.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 14,625 shares of the company’s stock after selling 150 shares during the period. Stonebridge Capital Management Inc.’s holdings in Novartis were worth $1,423,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new stake in shares of Novartis in the 3rd quarter valued at about $28,000. Richardson Financial Services Inc. bought a new stake in shares of Novartis in the 2nd quarter valued at about $30,000. Fortitude Family Office LLC boosted its holdings in shares of Novartis by 503.8% in the 3rd quarter. Fortitude Family Office LLC now owns 320 shares of the company’s stock valued at $37,000 after buying an additional 267 shares in the last quarter. Clean Yield Group bought a new stake in shares of Novartis in the 3rd quarter valued at about $43,000. Finally, Versant Capital Management Inc boosted its holdings in shares of Novartis by 782.0% in the 4th quarter. Versant Capital Management Inc now owns 785 shares of the company’s stock valued at $76,000 after buying an additional 696 shares in the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Stock Performance

NVS opened at $99.05 on Thursday. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $202.46 billion, a PE ratio of 11.50, a P/E/G ratio of 1.36 and a beta of 0.57. The firm has a 50 day moving average of $101.13 and a two-hundred day moving average of $109.19. Novartis AG has a 12-month low of $92.35 and a 12-month high of $120.92.

Novartis (NYSE:NVS) last posted its earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.12. The firm had revenue of $12.82 billion during the quarter, compared to analyst estimates 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. On average, analysts anticipate that Novartis AG will post 7.63 EPS for the current year.

Analyst Ratings Changes

NVS has been the topic of a number of recent analyst reports. Erste Group Bank restated a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. BMO Capital Markets lifted their target price on shares of Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Finally, HSBC cut shares of Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. Two analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock 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.