Denali Advisors LLC Decreases Position in Novartis AG $NVS

Denali Advisors LLC lowered its holdings in Novartis AG (NYSE:NVS) by 0.6% in the second quarter, HoldingsChannel reports. The firm owned 21,813 shares of the company’s stock after selling 123 shares during the period. Denali Advisors LLC’s holdings in Novartis were worth $2,640,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GFG Capital LLC purchased a new position in Novartis in the second quarter valued at about $26,000. WPG Advisers LLC purchased a new position in Novartis in the first quarter valued at about $25,000. Tsfg LLC boosted its holdings in Novartis by 366.0% in the first quarter. Tsfg LLC now owns 233 shares of the company’s stock valued at $26,000 after purchasing an additional 183 shares during the last quarter. Barrett & Company Inc. purchased a new position in Novartis in the second quarter valued at about $31,000. Finally, MCF Advisors LLC boosted its holdings in Novartis by 66.0% in the second quarter. MCF Advisors LLC now owns 264 shares of the company’s stock valued at $32,000 after purchasing an additional 105 shares during the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Wall Street Zen upgraded Novartis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. The Goldman Sachs Group restated a “sell” rating and issued a $118.00 target price (down from $119.00) on shares of Novartis in a research report on Friday, September 12th. Morgan Stanley upgraded Novartis from an “underweight” rating to an “equal weight” rating and set a $123.00 target price on the stock in a research report on Friday, August 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Novartis in a research note on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Novartis in a research note on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Novartis currently has an average rating of “Hold” and an average target price of $120.33.

Novartis Trading Down 0.4%

NYSE:NVS opened at $131.29 on Wednesday. The firm has a market capitalization of $277.34 billion, a price-to-earnings ratio of 19.11, a price-to-earnings-growth ratio of 1.84 and a beta of 0.64. The stock has a fifty day simple moving average of $127.04 and a 200 day simple moving average of $118.89. The company has a quick ratio of 0.62, a current ratio of 0.82 and a debt-to-equity ratio of 0.53. Novartis AG has a 1-year low of $96.06 and a 1-year high of $133.55.

Novartis Company 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.