JNBA Financial Advisors Has $889,000 Position in Novartis AG (NYSE:NVS)

JNBA Financial Advisors lessened its holdings in shares of Novartis AG (NYSE:NVS) by 8.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 7,727 shares of the company’s stock after selling 729 shares during the period. JNBA Financial Advisors’ holdings in Novartis were worth $889,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Clearstead Trust LLC raised its stake in shares of Novartis by 73.5% in the first quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock worth $26,000 after acquiring an additional 114 shares during the last quarter. New Millennium Group LLC bought a new position in Novartis in the 2nd quarter valued at $28,000. Lynx Investment Advisory acquired a new stake in shares of Novartis in the 2nd quarter valued at $29,000. Industrial Alliance Investment Management Inc. acquired a new position in shares of Novartis during the second quarter valued at $30,000. Finally, Richardson Financial Services Inc. acquired a new stake in Novartis in the second quarter worth about $30,000. 13.12% of the stock is owned by institutional investors.

Novartis Stock Performance

NYSE NVS traded down $2.70 on Wednesday, hitting $106.68. 443,164 shares of the stock were exchanged, compared to its average volume of 1,340,301. The business’s fifty day moving average is $115.37 and its 200 day moving average is $109.57. Novartis AG has a 52 week low of $92.35 and a 52 week high of $120.92. The company has a market capitalization of $218.05 billion, a PE ratio of 12.71, a P/E/G ratio of 1.61 and a beta of 0.58. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.11 and a quick ratio of 0.90.

Novartis (NYSE:NVS) last issued its 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 the consensus estimate of $12.62 billion. During the same period in the previous year, the company posted $1.74 EPS. Research analysts anticipate that Novartis AG will post 7.56 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Jefferies Financial Group downgraded Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Novartis in a research report on Friday, July 19th. 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. The Goldman Sachs Group restated 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, Bank of America cut shares of Novartis from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $135.00 to $130.00 in a research report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Novartis presently has an average rating of “Hold” and an average target price of $121.50.

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.