Simmons Bank Sells 232 Shares of Novartis AG (NYSE:NVS)

Simmons Bank decreased its position in shares of Novartis AG (NYSE:NVS) by 2.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,287 shares of the company’s stock after selling 232 shares during the period. Simmons Bank’s holdings in Novartis were worth $1,068,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in NVS. New Millennium Group LLC bought a new stake in shares of Novartis during the 2nd quarter valued at $28,000. Clearstead Trust LLC lifted its position in shares of Novartis by 73.5% in the first quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock valued at $26,000 after acquiring an additional 114 shares in the last quarter. Lynx Investment Advisory bought a new position in shares of Novartis in the second quarter worth about $29,000. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Novartis during the second quarter worth about $30,000. Finally, Richardson Financial Services Inc. bought a new stake in Novartis during the 2nd quarter valued at approximately $30,000. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on NVS shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Novartis in a research note on Friday, July 19th. BMO Capital Markets upped their target price on shares of Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Bank of America downgraded shares of Novartis from a “buy” rating to a “neutral” rating and reduced their price target for the company from $135.00 to $130.00 in a report on Wednesday, September 11th. 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. Finally, Jefferies Financial Group cut Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $121.50.

Novartis Stock Performance

Shares of NYSE:NVS opened at $103.89 on Thursday. The firm has a fifty day simple moving average of $113.98 and a two-hundred day simple moving average of $109.88. Novartis AG has a 52 week low of $92.35 and a 52 week high of $120.92. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $212.35 billion, a P/E ratio of 12.07, a PEG ratio of 1.52 and a beta of 0.58.

Novartis (NYSE:NVS) last released its quarterly earnings results on Tuesday, October 29th. The company reported $2.06 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $12.62 billion. During the same quarter last year, the business posted $1.74 earnings per share. On average, analysts expect that Novartis AG will post 7.61 earnings per share for the current fiscal year.

About Novartis

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.