Clarius Group LLC trimmed its position in shares of Novartis AG (NYSE:NVS) by 14.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,489 shares of the company’s stock after selling 1,054 shares during the quarter. Clarius Group LLC’s holdings in Novartis were worth $614,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of NVS. Primecap Management Co. CA grew its stake in Novartis by 7.4% during the second quarter. Primecap Management Co. CA now owns 25,617,640 shares of the company’s stock worth $2,339,147,000 after buying an additional 1,760,424 shares during the last quarter. Point72 Asset Management L.P. grew its stake in Novartis by 102.8% during the third quarter. Point72 Asset Management L.P. now owns 541,255 shares of the company’s stock worth $47,035,000 after buying an additional 274,355 shares during the last quarter. Fisher Asset Management LLC grew its stake in Novartis by 3.1% during the third quarter. Fisher Asset Management LLC now owns 8,314,984 shares of the company’s stock worth $722,572,000 after buying an additional 247,749 shares during the last quarter. Voloridge Investment Management LLC grew its stake in Novartis by 1,256.9% during the third quarter. Voloridge Investment Management LLC now owns 179,525 shares of the company’s stock worth $15,601,000 after buying an additional 166,294 shares during the last quarter. Finally, Renaissance Group LLC bought a new stake in Novartis during the third quarter worth about $11,728,000. 10.61% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have weighed in on NVS. ValuEngine raised shares of Novartis from a “sell” rating to a “hold” rating in a research note on Saturday, October 19th. Cowen reiterated a “buy” rating and set a $100.00 target price on shares of Novartis in a research report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $93.34.
Shares of NVS stock traded down $0.31 during trading hours on Wednesday, reaching $94.88. 82,178 shares of the company were exchanged, compared to its average volume of 1,001,807. Novartis AG has a fifty-two week low of $74.70 and a fifty-two week high of $96.06. The stock’s fifty day moving average is $94.07 and its two-hundred day moving average is $90.36. The company has a market cap of $219.85 billion, a price-to-earnings ratio of 18.72, a P/E/G ratio of 1.98 and a beta of 0.59. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.95 and a quick ratio of 0.73.
Novartis (NYSE:NVS) last announced its earnings results on Tuesday, October 22nd. The company reported $1.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.10. Novartis had a net margin of 24.43% and a return on equity of 20.86%. The company had revenue of $12.17 billion for the quarter, compared to analyst estimates of $11.67 billion. During the same period in the prior year, the business earned $1.32 earnings per share. Novartis’s quarterly revenue was up 10.5% on a year-over-year basis. On average, research analysts anticipate that Novartis AG will post 5.23 earnings per share for the current year.
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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