Novartis AG (NYSE:NVS) Shares Sold by Bar Harbor Wealth Management

Bar Harbor Wealth Management lowered its stake in Novartis AG (NYSE:NVS) by 14.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,133 shares of the company’s stock after selling 536 shares during the quarter. Bar Harbor Wealth Management’s holdings in Novartis were worth $305,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Legacy Investment Solutions LLC acquired a new position in shares of Novartis in the 3rd quarter worth approximately $28,000. Richardson Financial Services Inc. acquired a new position in Novartis during the second quarter worth $30,000. Fortitude Family Office LLC raised 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 during the period. Clean Yield Group acquired a new position in Novartis during the 3rd quarter worth about $43,000. Finally, Versant Capital Management Inc grew its position in 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 acquiring an additional 696 shares in the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. BMO Capital Markets raised their price objective on shares of Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Erste Group Bank reiterated a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. Finally, HSBC lowered Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday, December 4th. Two equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $121.50.

Novartis Price Performance

Novartis stock opened at $99.20 on Tuesday. The stock has a market cap of $202.76 billion, a P/E ratio of 11.52, a price-to-earnings-growth ratio of 1.49 and a beta of 0.57. The company has a fifty day simple moving average of $101.33 and a 200-day simple moving average of $109.24. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 0.55. Novartis AG has a 12-month low of $92.35 and a 12-month high of $120.92.

Novartis (NYSE:NVS) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. Novartis had a return on equity of 34.80% and a net margin of 35.96%. The company had revenue of $12.82 billion during the quarter, compared to the consensus estimate of $12.62 billion. During the same period in the previous year, the business earned $1.74 EPS. Equities analysts expect that Novartis AG will post 7.65 EPS for the current fiscal 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.