Novartis AG (NYSE:NVS) Stock Position Trimmed by Earnest Partners LLC

Earnest Partners LLC decreased its stake in Novartis AG (NYSE:NVS) by 1.1% during the second quarter, Holdings Channel reports. The institutional investor owned 1,928,986 shares of the company’s stock after selling 20,544 shares during the quarter. Novartis makes up approximately 1.6% of Earnest Partners LLC’s investment portfolio, making the stock its 6th largest position. Earnest Partners LLC’s holdings in Novartis were worth $176,136,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Elefante Mark B boosted its holdings in Novartis by 3.6% in the second quarter. Elefante Mark B now owns 8,744 shares of the company’s stock valued at $799,000 after purchasing an additional 300 shares during the period. Capital Advisors Ltd. LLC raised its holdings in Novartis by 119.0% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 1,084 shares of the company’s stock valued at $99,000 after buying an additional 589 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in Novartis by 16.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,566 shares of the company’s stock valued at $143,000 after buying an additional 220 shares during the last quarter. Crawford Investment Counsel Inc. raised its holdings in Novartis by 8.9% during the 1st quarter. Crawford Investment Counsel Inc. now owns 2,581 shares of the company’s stock worth $248,000 after purchasing an additional 212 shares during the last quarter. Finally, Penbrook Management LLC raised its holdings in Novartis by 18.2% during the 2nd quarter. Penbrook Management LLC now owns 6,500 shares of the company’s stock worth $594,000 after purchasing an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 11.21% of the company’s stock.

NVS has been the subject of several research reports. Jefferies Financial Group reissued a “buy” rating on shares of Novartis in a research report on Thursday, August 29th. Zacks Investment Research lowered Novartis from a “buy” rating to a “hold” rating and set a $100.00 price objective for the company. in a research note on Friday, July 19th. Argus increased their price objective on Novartis to $105.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. They noted that the move was a valuation call. JPMorgan Chase & Co. restated a “sell” rating on shares of Novartis in a report on Friday, July 5th. Finally, ValuEngine downgraded Novartis from a “hold” rating to a “sell” rating in a report on Thursday. Five analysts have rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Novartis presently has an average rating of “Hold” and an average price target of $93.29.

Shares of Novartis stock opened at $87.65 on Friday. The stock has a market cap of $205.32 billion, a price-to-earnings ratio of 17.22, a price-to-earnings-growth ratio of 2.00 and a beta of 0.58. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.74 and a current ratio of 0.94. The stock has a 50 day moving average price of $90.27 and a 200-day moving average price of $88.64. Novartis AG has a one year low of $71.86 and a one year high of $95.00.

Novartis (NYSE:NVS) last posted its quarterly earnings data on Thursday, July 18th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.14. The company had revenue of $11.76 billion during the quarter, compared to analysts’ expectations of $11.45 billion. Novartis had a return on equity of 18.55% and a net margin of 23.27%. Novartis’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.29 EPS. Sell-side analysts predict that Novartis AG will post 5.15 earnings per share for the current fiscal year.

Novartis Profile

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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