First Republic Investment Management Inc. decreased its position in shares of Novartis AG (NYSE:NVS) by 14.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 460,835 shares of the company’s stock after selling 75,277 shares during the quarter. First Republic Investment Management Inc.’s holdings in Novartis were worth $39,563,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Cetera Investment Advisers bought a new position in shares of Novartis during the 2nd quarter worth $241,000. Bartlett & Co. LLC grew its stake in shares of Novartis by 1.6% during the 3rd quarter. Bartlett & Co. LLC now owns 473,081 shares of the company’s stock worth $40,614,000 after acquiring an additional 7,249 shares during the period. GFS Advisors LLC grew its stake in shares of Novartis by 6.5% during the 2nd quarter. GFS Advisors LLC now owns 21,314 shares of the company’s stock worth $1,779,000 after acquiring an additional 1,300 shares during the period. Schafer Cullen Capital Management Inc. grew its stake in shares of Novartis by 9.2% during the 2nd quarter. Schafer Cullen Capital Management Inc. now owns 2,780,606 shares of the company’s stock worth $232,097,000 after acquiring an additional 233,292 shares during the period. Finally, Mechanics Bank Trust Department bought a new position in shares of Novartis during the 2nd quarter worth $389,000. Institutional investors own 10.87% of the company’s stock.
NVS has been the subject of several analyst reports. J P Morgan Chase & Co restated a “neutral” rating on shares of Novartis in a research note on Tuesday, September 5th. Zacks Investment Research upgraded Novartis from a “sell” rating to a “hold” rating in a research note on Thursday, October 26th. Leerink Swann raised their target price on Novartis from $89.00 to $91.00 and gave the stock a “market perform” rating in a research note on Monday, October 23rd. Bank of America downgraded Novartis from a “neutral” rating to an “underperform” rating in a research note on Wednesday. Finally, Cowen set a $90.00 target price on Novartis and gave the stock a “hold” rating in a research note on Wednesday, August 9th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $85.32.
Novartis AG (NYSE:NVS) traded down $0.66 during trading hours on Thursday, hitting $83.18. The company’s stock had a trading volume of 1,256,800 shares, compared to its average volume of 2,275,874. Novartis AG has a 1 year low of $66.93 and a 1 year high of $86.90. The stock has a market cap of $198,331.47, a PE ratio of 17.65, a P/E/G ratio of 2.67 and a beta of 0.73. The company has a current ratio of 1.08, a quick ratio of 0.81 and a debt-to-equity ratio of 0.32.
Novartis (NYSE:NVS) last released its quarterly earnings results on Tuesday, October 24th. The company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.04. Novartis had a return on equity of 15.77% and a net margin of 13.73%. The firm had revenue of $12.41 billion for the quarter, compared to analysts’ expectations of $12.21 billion. During the same quarter last year, the firm posted $1.23 EPS. The company’s revenue was up 2.4% compared to the same quarter last year. equities analysts expect that Novartis AG will post 4.75 earnings per share for the current fiscal year.
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Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.
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