Novartis AG $NVS Shares Sold by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC cut its position in shares of Novartis AG (NYSE:NVS) by 2.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,153 shares of the company’s stock after selling 249 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Novartis were worth $1,229,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. WPG Advisers LLC acquired a new stake in Novartis during the first quarter worth about $25,000. GFG Capital LLC acquired a new stake in Novartis during the second quarter worth about $26,000. Barrett & Company Inc. acquired a new stake in Novartis during the second quarter worth about $31,000. MCF Advisors LLC increased its stake in Novartis by 66.0% during the second quarter. MCF Advisors LLC now owns 264 shares of the company’s stock worth $32,000 after acquiring an additional 105 shares during the last quarter. Finally, Investment Management Corp VA ADV boosted its position in shares of Novartis by 172.2% in the first quarter. Investment Management Corp VA ADV now owns 313 shares of the company’s stock worth $35,000 after buying an additional 198 shares during the period. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NVS. Wall Street Zen raised Novartis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Novartis in a research report on Monday. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Novartis in a research report on Thursday, August 21st. HC Wainwright downgraded Novartis to a “neutral” rating in a research report on Monday. Finally, Morgan Stanley raised Novartis from an “underweight” rating to an “equal weight” rating and set a $123.00 target price for the company in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Novartis presently has a consensus rating of “Hold” and a consensus target price of $120.33.

Novartis Trading Down 1.0%

Shares of NVS opened at $129.12 on Tuesday. The company has a market capitalization of $272.76 billion, a P/E ratio of 18.79, a P/E/G ratio of 1.82 and a beta of 0.64. Novartis AG has a one year low of $96.06 and a one year high of $133.55. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.62 and a current ratio of 0.82. The stock has a 50-day moving average price of $127.66 and a 200 day moving average price of $119.78.

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.