Douglass Winthrop Advisors LLC trimmed its holdings in Novartis AG (NYSE:NVS) by 33.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 22,395 shares of the company’s stock after selling 11,250 shares during the quarter. Douglass Winthrop Advisors LLC’s holdings in Novartis were worth $1,930,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. ST Germain D J Co. Inc. lifted its position in Novartis by 14.8% in the second quarter. ST Germain D J Co. Inc. now owns 4,765 shares of the company’s stock worth $360,000 after purchasing an additional 615 shares during the period. American Research & Management Co. lifted its position in Novartis by 1.1% in the second quarter. American Research & Management Co. now owns 57,749 shares of the company’s stock worth $4,362,000 after purchasing an additional 625 shares during the period. King Luther Capital Management Corp lifted its position in Novartis by 14.3% in the second quarter. King Luther Capital Management Corp now owns 5,175 shares of the company’s stock worth $391,000 after purchasing an additional 649 shares during the period. Wesbanco Bank Inc. lifted its position in Novartis by 24.2% in the second quarter. Wesbanco Bank Inc. now owns 3,347 shares of the company’s stock worth $253,000 after purchasing an additional 653 shares during the period. Finally, Sterling Capital Management LLC lifted its position in Novartis by 5.3% in the second quarter. Sterling Capital Management LLC now owns 13,127 shares of the company’s stock worth $992,000 after purchasing an additional 655 shares during the period. 10.94% of the stock is owned by institutional investors.
Several research analysts recently commented on NVS shares. Zacks Investment Research raised Novartis from a “sell” rating to a “hold” rating in a research report on Tuesday, June 19th. ValuEngine cut Novartis from a “sell” rating to a “strong sell” rating in a research report on Monday, July 2nd. DZ Bank reaffirmed a “buy” rating on shares of Novartis in a research report on Thursday, July 19th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Novartis in a research report on Thursday, July 19th. Finally, Barclays raised Novartis from an “underweight” rating to an “equal weight” rating in a research report on Thursday, July 19th. Thirteen equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $86.90.
In other Novartis news, major shareholder Bioventures Ltd Novartis sold 12,460 shares of Novartis stock in a transaction on Wednesday, July 25th. The stock was sold at an average price of $3.84, for a total transaction of $47,846.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders have sold 81,322 shares of company stock valued at $290,796. Company insiders own 0.01% of the company’s stock.
Shares of NYSE NVS opened at $82.78 on Friday. The firm has a market cap of $199.67 billion, a price-to-earnings ratio of 17.21, a P/E/G ratio of 1.80 and a beta of 0.83. Novartis AG has a 52-week low of $72.30 and a 52-week high of $94.19. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.15 and a quick ratio of 0.89.
Novartis (NYSE:NVS) last issued its quarterly earnings data on Wednesday, July 18th. The company reported $1.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.02. The company had revenue of $13.16 billion during the quarter, compared to analysts’ expectations of $12.93 billion. Novartis had a return on equity of 16.05% and a net margin of 27.06%. The business’s revenue was up 7.5% on a year-over-year basis. During the same period last year, the business earned $1.22 earnings per share. As a group, sell-side analysts predict that Novartis AG will post 5.17 earnings per share for the current year.
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.
Further Reading: Calculate Your Return on Investment (ROI)
Want to see what other hedge funds are holding NVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Novartis AG (NYSE:NVS).
Receive News & Ratings for Novartis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novartis and related companies with MarketBeat.com's FREE daily email newsletter.