Novartis AG (NYSE:NVS) Shares Sold by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA cut its position in Novartis AG (NYSE:NVS) by 8.1% in the fourth quarter, Holdings Channel reports. The firm owned 6,891 shares of the company’s stock after selling 605 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Novartis were worth $713,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in NVS. Union Bancaire Privee UBP SA purchased a new stake in shares of Novartis in the fourth quarter valued at about $27,000. Legacy Investment Solutions LLC acquired a new position in Novartis in the 3rd quarter valued at about $28,000. Fortitude Family Office LLC raised its stake in Novartis by 503.8% during the 3rd quarter. Fortitude Family Office LLC now owns 320 shares of the company’s stock valued at $37,000 after acquiring an additional 267 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Novartis during the 4th quarter worth approximately $55,000. Finally, Golden State Wealth Management LLC acquired a new stake in Novartis during the 4th quarter worth approximately $69,000. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on NVS shares. Erste Group Bank restated a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. StockNews.com upgraded shares of Novartis from a “buy” rating to a “strong-buy” rating in a research report on Saturday. HSBC downgraded shares of Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft raised shares of Novartis from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Finally, BMO Capital Markets lifted their price objective on Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Novartis presently has an average rating of “Hold” and a consensus target price of $123.38.

Novartis Trading Down 0.8 %

Shares of NVS opened at $106.17 on Monday. Novartis AG has a twelve month low of $92.35 and a twelve month high of $120.92. The firm has a market capitalization of $217.00 billion, a P/E ratio of 18.06, a PEG ratio of 1.70 and a beta of 0.58. The firm’s 50-day moving average is $100.32 and its two-hundred day moving average is $108.40. 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 (NYSE:NVS) last announced its earnings results on Friday, January 31st. The company reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.80 by $0.18. Novartis had a net margin of 23.56% and a return on equity of 37.24%. On average, research analysts predict that Novartis AG will post 8.42 earnings per share for the current fiscal year.

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.