Columbus Circle Investors Reduces Stake in Novartis AG (NVS)

Columbus Circle Investors trimmed its holdings in shares of Novartis AG (NYSE:NVS) by 32.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,574 shares of the company’s stock after selling 11,302 shares during the period. Columbus Circle Investors’ holdings in Novartis were worth $2,024,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Matthew Goff Investment Advisor LLC lifted its stake in Novartis by 10.7% during the 3rd quarter. Matthew Goff Investment Advisor LLC now owns 26,028 shares of the company’s stock valued at $2,235,000 after acquiring an additional 2,522 shares during the period. Welch Group LLC lifted its stake in Novartis by 0.4% during the 3rd quarter. Welch Group LLC now owns 206,885 shares of the company’s stock valued at $17,761,000 after acquiring an additional 755 shares during the period. SG Americas Securities LLC lifted its stake in Novartis by 131.0% during the 3rd quarter. SG Americas Securities LLC now owns 49,666 shares of the company’s stock valued at $4,264,000 after acquiring an additional 28,161 shares during the period. Commonwealth Equity Services Inc lifted its stake in Novartis by 0.5% during the 3rd quarter. Commonwealth Equity Services Inc now owns 244,841 shares of the company’s stock valued at $21,019,000 after acquiring an additional 1,294 shares during the period. Finally, Marble Harbor Investment Counsel LLC acquired a new stake in Novartis during the 3rd quarter valued at approximately $230,000. Institutional investors and hedge funds own 10.87% of the company’s stock.

NVS has been the subject of several recent research reports. Cowen set a $90.00 target price on shares of Novartis and gave the company a “hold” rating in a report on Wednesday, August 9th. BidaskClub lowered shares of Novartis from a “hold” rating to a “sell” rating in a report on Friday, August 11th. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Novartis in a report on Tuesday, August 29th. Zacks Investment Research raised shares of Novartis from a “hold” rating to a “buy” rating and set a $96.00 target price for the company in a report on Tuesday, September 19th. Finally, Leerink Swann lifted their target price on shares of Novartis from $89.00 to $91.00 and gave the company a “market perform” rating in a report on Monday, October 23rd. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $85.32.

Shares of Novartis AG (NYSE:NVS) traded down $0.30 during midday trading on Thursday, reaching $82.88. 691,589 shares of the company traded hands, compared to its average volume of 2,269,160. The stock has a market cap of $198,331.47, a price-to-earnings ratio of 17.65, a PEG ratio of 2.67 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.81 and a current ratio of 1.08. Novartis AG has a 12 month low of $66.93 and a 12 month high of $86.90.

Novartis (NYSE:NVS) last issued its quarterly earnings results on Tuesday, October 24th. The company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.25 by $0.04. The company had revenue of $12.41 billion during the quarter, compared to analyst estimates of $12.21 billion. Novartis had a net margin of 13.73% and a return on equity of 15.77%. The firm’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.23 EPS. research analysts predict that Novartis AG will post 4.75 EPS for the current fiscal year.

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Novartis Company Profile

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.

Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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