Sanctuary Advisors LLC Reduces Stake in Novartis AG (NYSE:NVS)

Sanctuary Advisors LLC decreased its stake in shares of Novartis AG (NYSE:NVS) by 1.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 91,913 shares of the company’s stock after selling 1,363 shares during the period. Sanctuary Advisors LLC’s holdings in Novartis were worth $9,628,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NVS. Allspring Global Investments Holdings LLC lifted its holdings in Novartis by 425.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 42,831 shares of the company’s stock worth $4,926,000 after purchasing an additional 34,685 shares in the last quarter. Northwest Investment Counselors LLC purchased a new stake in Novartis during the 3rd quarter worth about $149,000. Whittier Trust Co. lifted its holdings in Novartis by 1.4% during the 3rd quarter. Whittier Trust Co. now owns 47,605 shares of the company’s stock worth $5,475,000 after purchasing an additional 663 shares in the last quarter. Foundations Investment Advisors LLC raised its holdings in shares of Novartis by 10.0% in the 3rd quarter. Foundations Investment Advisors LLC now owns 70,180 shares of the company’s stock valued at $8,072,000 after acquiring an additional 6,365 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in shares of Novartis by 4.4% in the 3rd quarter. Signaturefd LLC now owns 40,486 shares of the company’s stock valued at $4,657,000 after acquiring an additional 1,718 shares in the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Stock Performance

Shares of NYSE NVS opened at $106.65 on Wednesday. The stock has a market cap of $217.99 billion, a price-to-earnings ratio of 18.14, a P/E/G ratio of 1.70 and a beta of 0.58. The company has a current ratio of 1.04, a quick ratio of 0.90 and a debt-to-equity ratio of 0.48. Novartis AG has a 1-year low of $92.35 and a 1-year high of $120.92. The stock’s 50-day moving average is $100.78 and its 200 day moving average is $108.20.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Friday, January 31st. The company reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.18. Novartis had a return on equity of 37.24% and a net margin of 23.56%. On average, sell-side analysts anticipate that Novartis AG will post 8.42 EPS for the current fiscal year.

Analysts Set New Price Targets

NVS has been the topic of several recent analyst reports. Erste Group Bank reaffirmed a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft raised Novartis from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Morgan Stanley initiated coverage on Novartis in a report on Wednesday, February 12th. They issued an “underweight” rating on the stock. BMO Capital Markets raised their price target on Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Finally, StockNews.com raised Novartis from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 8th. Three analysts have rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $123.38.

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.