MGO One Seven LLC Sells 630 Shares of Novartis AG (NYSE:NVS)

MGO One Seven LLC lowered its holdings in Novartis AG (NYSE:NVS) by 2.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,447 shares of the company’s stock after selling 630 shares during the period. MGO One Seven LLC’s holdings in Novartis were worth $2,816,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of NVS. Russell Investments Group Ltd. lifted its position in shares of Novartis by 36.5% during the fourth quarter. Russell Investments Group Ltd. now owns 3,488 shares of the company’s stock worth $352,000 after acquiring an additional 933 shares in the last quarter. Aveo Capital Partners LLC boosted its stake in Novartis by 12.3% in the 4th quarter. Aveo Capital Partners LLC now owns 2,509 shares of the company’s stock worth $253,000 after purchasing an additional 275 shares during the period. BNP Paribas Financial Markets grew its holdings in Novartis by 1,345.3% during the 4th quarter. BNP Paribas Financial Markets now owns 8,036 shares of the company’s stock valued at $811,000 after buying an additional 7,480 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of Novartis by 5.2% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 33,356 shares of the company’s stock valued at $3,368,000 after buying an additional 1,659 shares during the period. Finally, Ieq Capital LLC lifted its holdings in shares of Novartis by 73.2% in the fourth quarter. Ieq Capital LLC now owns 9,458 shares of the company’s stock worth $955,000 after buying an additional 3,997 shares in the last quarter. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Barclays raised shares of Novartis to a “strong sell” rating in a research note on Monday, June 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Novartis in a report on Friday, July 19th. Bank of America lowered Novartis from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $135.00 to $130.00 in a research note on Wednesday. Jefferies Financial Group cut Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $121.00 price objective (up previously from $119.00) on shares of Novartis in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $120.70.

Novartis Price Performance

NVS opened at $115.29 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.72 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $235.65 billion, a P/E ratio of 15.56, a PEG ratio of 1.70 and a beta of 0.57. The stock has a 50-day moving average price of $113.25 and a 200-day moving average price of $104.81. Novartis AG has a 12-month low of $92.19 and a 12-month high of $120.92.

Novartis (NYSE:NVS) last issued its earnings results on Thursday, July 18th. The company reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.10. Novartis had a return on equity of 34.56% and a net margin of 33.76%. The business had revenue of $12.87 billion during the quarter, compared to analyst estimates of $12.24 billion. During the same quarter in the prior year, the firm earned $1.83 earnings per share. Equities analysts predict that Novartis AG will post 7.5 earnings per share 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.