DAVENPORT & Co LLC cut its holdings in Novartis AG (NYSE:NVS) by 2.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,936 shares of the company’s stock after selling 200 shares during the quarter. DAVENPORT & Co LLC’s holdings in Novartis were worth $868,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Marquette Asset Management LLC acquired a new stake in shares of Novartis in the first quarter valued at $25,000. Advisory Alpha LLC acquired a new stake in shares of Novartis in the first quarter valued at $26,000. Creative Financial Designs Inc. ADV increased its position in Novartis by 262.0% in the second quarter. Creative Financial Designs Inc. ADV now owns 333 shares of the company’s stock worth $29,000 after purchasing an additional 241 shares during the period. Weaver Consulting Group increased its position in Novartis by 46.4% in the second quarter. Weaver Consulting Group now owns 410 shares of the company’s stock worth $36,000 after purchasing an additional 130 shares during the period. Finally, JCIC Asset Management Inc. increased its position in Novartis by 37.8% in the first quarter. JCIC Asset Management Inc. now owns 565 shares of the company’s stock worth $47,000 after purchasing an additional 155 shares during the period. Institutional investors own 10.80% of the company’s stock.
NVS has been the subject of a number of research reports. UBS Group reiterated a “neutral” rating on shares of Novartis in a research report on Monday, May 11th. Barclays reiterated an “underweight” rating on shares of Novartis in a research report on Wednesday, April 29th. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Novartis in a research report on Wednesday, April 29th. Morgan Stanley reiterated an “equal weight” rating on shares of Novartis in a research report on Tuesday, July 28th. Finally, ValuEngine lowered Novartis from a “hold” rating to a “sell” rating in a research report on Friday, June 5th. Three analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. Novartis presently has an average rating of “Hold” and a consensus price target of $108.00.
Shares of NYSE:NVS opened at $82.14 on Friday. The company has a 50 day moving average price of $87.16 and a two-hundred day moving average price of $87.43. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.58 and a current ratio of 0.81. The company has a market capitalization of $187.99 billion, a PE ratio of 14.62, a PEG ratio of 1.77 and a beta of 0.50. Novartis AG has a 52 week low of $69.18 and a 52 week high of $99.84.
Novartis (NYSE:NVS) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.05. The company had revenue of $11.35 billion during the quarter, compared to analyst estimates of $11.77 billion. Novartis had a net margin of 14.96% and a return on equity of 24.14%. The firm’s revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.34 EPS. On average, sell-side analysts forecast that Novartis AG will post 5.67 earnings per share for the current year.
Novartis Company 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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