Mondrian Investment Partners LTD lowered its position in Novartis AG (NYSE:NVS) by 1.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 548,333 shares of the company’s stock after selling 6,072 shares during the quarter. Mondrian Investment Partners LTD’s holdings in Novartis were worth $42,052,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Pinnacle Wealth Planning Services Inc. bought a new position in Novartis in the fourth quarter worth approximately $113,000. 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 Novartis in the fourth quarter worth approximately $124,000. Trustcore Financial Services LLC bought a new position in Novartis in the fourth quarter worth approximately $178,000. Finally, Virtue Capital Management LLC bought a new position in Novartis in the fourth quarter worth approximately $189,000. 10.97% of the stock is currently owned by institutional investors.
In related news, major shareholder Institutes For Biomed Novartis bought 766,666 shares of the stock in a transaction on Monday, April 23rd. The stock was bought at an average price of $15.00 per share, for a total transaction of $11,499,990.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.01% of the stock is owned by corporate insiders.
Novartis opened at $76.10 on Friday, Marketbeat reports. The company has a quick ratio of 0.91, a current ratio of 1.17 and a debt-to-equity ratio of 0.33. The firm has a market cap of $176.36 billion, a price-to-earnings ratio of 15.82, a P/E/G ratio of 1.65 and a beta of 0.76. Novartis AG has a twelve month low of $75.73 and a twelve month high of $94.19.
Novartis (NYSE:NVS) last posted its earnings results on Thursday, April 19th. The company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.03. The company had revenue of $12.69 billion during the quarter, compared to analyst estimates of $12.45 billion. Novartis had a return on equity of 16.23% and a net margin of 16.04%. Novartis’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.13 earnings per share. analysts anticipate that Novartis AG will post 5.26 earnings per share for the current fiscal year.
NVS has been the topic of several research analyst reports. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Novartis in a research note on Monday, April 9th. Deutsche Bank reissued a “neutral” rating on shares of Novartis in a research note on Tuesday, April 10th. ValuEngine cut Novartis from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Finally, Credit Suisse Group raised Novartis from an “underperform” rating to a “neutral” rating in a research note on Friday. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. Novartis currently has a consensus rating of “Hold” and a consensus price target of $89.81.
Novartis Company Profile
Novartis AG researches, develops, manufactures, and markets a range of healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines to enhance health outcomes for patients and health-care providers. This segment also commercializes products in the areas of oncology and rare diseases, ophthalmology, immunology and dermatology, neuroscience, respiratory, cardio-metabolic, and established medicines.
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