Clearbridge Investments LLC reduced its stake in Novartis AG (NYSE:NVS) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 774,818 shares of the company’s stock after selling 3,093 shares during the quarter. Clearbridge Investments LLC’s holdings in Novartis were worth $65,054,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. Garland Capital Management Inc. raised its holdings in Novartis by 1.0% in the 4th quarter. Garland Capital Management Inc. now owns 52,233 shares of the company’s stock valued at $4,385,000 after acquiring an additional 535 shares during the period. Tradition Capital Management LLC raised its holdings in Novartis by 0.9% in the 4th quarter. Tradition Capital Management LLC now owns 69,381 shares of the company’s stock valued at $5,825,000 after acquiring an additional 652 shares during the period. Commerce Bank raised its holdings in Novartis by 2.4% in the 4th quarter. Commerce Bank now owns 28,004 shares of the company’s stock valued at $2,352,000 after acquiring an additional 664 shares during the period. West Oak Capital LLC raised its holdings in Novartis by 4.4% in the 4th quarter. West Oak Capital LLC now owns 15,860 shares of the company’s stock valued at $1,332,000 after acquiring an additional 665 shares during the period. Finally, Lenox Wealth Management Inc. raised its holdings in Novartis by 6.9% in the 3rd quarter. Lenox Wealth Management Inc. now owns 10,585 shares of the company’s stock valued at $908,000 after acquiring an additional 683 shares during the period. 10.80% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have weighed in on NVS. Nord/LB reissued a “neutral” rating on shares of Novartis in a report on Tuesday, January 2nd. Bank of America cut shares of Novartis from a “neutral” rating to an “underperform” rating in a report on Wednesday, December 6th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Novartis in a report on Thursday, January 18th. UBS Group reissued a “neutral” rating on shares of Novartis in a report on Monday, January 15th. Finally, Zacks Investment Research cut shares of Novartis from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. Novartis has an average rating of “Hold” and a consensus price target of $87.51.
Novartis AG (NVS) opened at $82.91 on Tuesday. Novartis AG has a 52-week low of $72.67 and a 52-week high of $94.19. The stock has a market cap of $216,010.00, a P/E ratio of 25.28, a price-to-earnings-growth ratio of 1.92 and a beta of 0.78. The company has a current ratio of 1.21, a quick ratio of 0.91 and a debt-to-equity ratio of 0.31.
Novartis (NYSE:NVS) last announced its earnings results on Wednesday, January 24th. The company reported $1.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.04. Novartis had a net margin of 15.69% and a return on equity of 16.03%. The firm had revenue of $12.92 billion for the quarter, compared to analyst estimates of $12.65 billion. During the same quarter in the prior year, the business posted $1.14 EPS. The business’s revenue was up 4.8% compared to the same quarter last year. sell-side analysts expect that Novartis AG will post 5.36 earnings per share for the current year.
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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