Eqis Capital Management Inc. lessened its holdings in Novartis AG (NYSE:NVS) by 10.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,650 shares of the company’s stock after selling 863 shares during the period. Eqis Capital Management Inc.’s holdings in Novartis were worth $665,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in NVS. Rockbridge Investment Management LCC acquired a new position in shares of Novartis in the 2nd quarter valued at $25,000. Simon Quick Advisors LLC acquired a new position in Novartis during the 3rd quarter worth about $26,000. Creative Financial Designs Inc. ADV lifted its stake in Novartis by 262.0% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 333 shares of the company’s stock worth $29,000 after acquiring an additional 241 shares in the last quarter. Proffitt & Goodson Inc. acquired a new position in Novartis during the 2nd quarter worth about $33,000. Finally, Northwest Investment Counselors LLC acquired a new position in Novartis during the 3rd quarter worth about $33,000. 10.37% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on NVS shares. UBS Group raised Novartis from a “neutral” rating to a “buy” rating in a research note on Thursday, September 10th. Berenberg Bank started coverage on Novartis in a research note on Tuesday, September 29th. They set a “buy” rating on the stock. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Novartis in a research note on Tuesday, November 10th. Oddo Bhf lowered Novartis from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 23rd. Finally, Morgan Stanley raised Novartis from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, September 1st. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. Novartis currently has an average rating of “Hold” and a consensus target price of $116.00.
NVS stock opened at $87.52 on Friday. Novartis AG has a 1 year low of $69.18 and a 1 year high of $99.84. The firm has a market capitalization of $200.31 billion, a P/E ratio of 28.32, a P/E/G ratio of 1.79 and a beta of 0.49. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.91 and a quick ratio of 0.69. The business’s 50-day moving average is $84.93 and its two-hundred day moving average is $86.05.
Novartis (NYSE:NVS) last released its quarterly earnings data on Sunday, November 1st. The company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.07. Novartis had a return on equity of 24.39% and a net margin of 14.71%. The business had revenue of $12.26 billion for the quarter, compared to the consensus estimate of $12.58 billion. During the same quarter in the prior year, the business posted $1.41 EPS. The business’s revenue for the quarter was up .7% on a year-over-year basis. On average, analysts expect that Novartis AG will post 5.76 EPS for the current year.
Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. Its Innovative Medicines segment offers prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, established, and cardiovascular, renal and metabolism medicine products.
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.