Berkshire Bank Sells 596 Shares of Novartis AG (NYSE:NVS)

Berkshire Bank decreased its position in shares of Novartis AG (NYSE:NVS) by 14.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,626 shares of the company’s stock after selling 596 shares during the quarter. Berkshire Bank’s holdings in Novartis were worth $353,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Union Bancaire Privee UBP SA bought a new position in Novartis during the 4th quarter worth about $27,000. Legacy Investment Solutions LLC bought a new position in shares of Novartis during the third quarter valued at approximately $28,000. Fortitude Family Office LLC increased its holdings in Novartis by 503.8% during the third 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 bought a new position in Novartis in the third quarter worth approximately $43,000. Finally, Brooklyn Investment Group purchased a new stake in Novartis during the fourth quarter worth $55,000. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Price Performance

Shares of NYSE NVS opened at $103.37 on Tuesday. Novartis AG has a fifty-two week low of $92.35 and a fifty-two week high of $120.92. The company has a market cap of $211.30 billion, a PE ratio of 12.01, a P/E/G ratio of 1.42 and a beta of 0.57. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.90 and a current ratio of 1.11. The business has a 50-day simple moving average of $100.09 and a two-hundred day simple moving average of $108.69.

Novartis (NYSE:NVS) last released its earnings results on Tuesday, October 29th. The company reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. Novartis had a net margin of 35.96% and a return on equity of 34.80%. The company had revenue of $12.82 billion during the quarter, compared to analysts’ expectations of $12.62 billion. During the same period last year, the business earned $1.74 EPS. As a group, equities analysts expect that Novartis AG will post 7.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on NVS shares. HSBC downgraded Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday, December 4th. Erste Group Bank reiterated a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. Finally, BMO Capital Markets increased their price target on shares of Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $123.38.

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.