First Republic Investment Management Inc. lowered its position in Novartis AG (NYSE:NVS) by 3.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 446,647 shares of the company’s stock after selling 14,188 shares during the period. First Republic Investment Management Inc.’s holdings in Novartis were worth $37,500,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in NVS. Wealthcare Advisory Partners LLC bought a new position in Novartis in the third quarter worth approximately $106,000. Cable Hill Partners LLC boosted its holdings in Novartis by 588.8% in the third quarter. Cable Hill Partners LLC now owns 1,295 shares of the company’s stock worth $112,000 after acquiring an additional 1,107 shares in the last quarter. Calton & Associates Inc. bought a new position in Novartis in the fourth quarter worth approximately $118,000. SeaCrest Wealth Management LLC bought a new position in shares of Novartis in the fourth quarter valued at approximately $124,000. Finally, Trustcore Financial Services LLC bought a new position in shares of Novartis in the fourth quarter valued at approximately $178,000. Institutional investors and hedge funds own 10.96% of the company’s stock.
NVS has been the topic of a number of recent research reports. Barclays lowered Novartis from an “equal weight” rating to an “underweight” rating in a report on Wednesday, October 25th. Zacks Investment Research lowered Novartis from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Nord/LB restated a “neutral” rating on shares of Novartis in a report on Wednesday, December 27th. UBS Group restated a “neutral” rating on shares of Novartis in a report on Monday, January 15th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of Novartis in a report on Tuesday, October 31st. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $85.32.
Novartis AG (NVS) opened at $84.89 on Thursday. The firm has a market capitalization of $197,841.23, a P/E ratio of 17.67, a PEG ratio of 1.98 and a beta of 0.73. Novartis AG has a fifty-two week low of $72.67 and a fifty-two week high of $94.19. The company has a quick ratio of 0.91, a current ratio of 1.21 and a debt-to-equity ratio of 0.31.
Novartis (NYSE:NVS) last issued its quarterly earnings results on Wednesday, January 24th. The company reported $1.20 EPS for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.04. The business had revenue of $12.92 billion for the quarter, compared to analyst estimates of $12.65 billion. Novartis had a return on equity of 16.03% and a net margin of 15.69%. Novartis’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period last year, the company posted $1.14 earnings per share. sell-side analysts forecast that Novartis AG will post 5.36 EPS 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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