Novartis AG (NYSE:NVS) Stake Lowered by Fort Sheridan Advisors LLC

Fort Sheridan Advisors LLC cut its stake in shares of Novartis AG (NYSE:NVSGet Rating) by 3.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,647 shares of the company’s stock after selling 180 shares during the quarter. Fort Sheridan Advisors LLC’s holdings in Novartis were worth $496,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its position in shares of Novartis by 35.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,870,136 shares of the company’s stock worth $338,521,000 after buying an additional 1,003,235 shares during the period. Cullen Capital Management LLC lifted its position in Novartis by 17.6% in the first quarter. Cullen Capital Management LLC now owns 3,295,271 shares of the company’s stock worth $289,160,000 after purchasing an additional 492,643 shares during the period. Fisher Asset Management LLC lifted its position in Novartis by 4.7% in the first quarter. Fisher Asset Management LLC now owns 10,871,033 shares of the company’s stock worth $953,933,000 after purchasing an additional 486,367 shares during the period. Renaissance Technologies LLC lifted its position in Novartis by 12.7% in the fourth quarter. Renaissance Technologies LLC now owns 3,727,570 shares of the company’s stock worth $326,051,000 after purchasing an additional 420,333 shares during the period. Finally, Boston Partners lifted its position in Novartis by 6.7% in the fourth quarter. Boston Partners now owns 4,677,403 shares of the company’s stock worth $409,194,000 after purchasing an additional 292,854 shares during the period. 9.40% of the stock is owned by institutional investors.

Novartis Trading Up 0.4 %

Shares of NYSE:NVS opened at $85.57 on Friday. The stock has a market capitalization of $189.33 billion, a PE ratio of 8.36, a P/E/G ratio of 2.41 and a beta of 0.51. Novartis AG has a 1 year low of $79.09 and a 1 year high of $95.17. The firm has a fifty day moving average price of $85.04 and a 200 day moving average price of $86.61. The company has a current ratio of 1.38, a quick ratio of 1.13 and a debt-to-equity ratio of 0.35.

Novartis (NYSE:NVSGet Rating) last released its quarterly earnings results on Monday, July 18th. The company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.04. Novartis had a net margin of 44.31% and a return on equity of 21.88%. The company had revenue of $12.78 billion during the quarter, compared to analysts’ expectations of $12.78 billion. During the same period in the prior year, the company earned $1.64 earnings per share. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. Analysts expect that Novartis AG will post 6.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NVS has been the topic of several research reports. Oppenheimer cut Novartis from an “outperform” rating to a “market perform” rating in a report on Friday, June 3rd. JPMorgan Chase & Co. boosted their target price on shares of Novartis from CHF 80 to CHF 81 and gave the company an “underweight” rating in a research note on Wednesday, July 20th. Barclays boosted their target price on shares of Novartis from CHF 80 to CHF 85 in a research note on Thursday, April 14th. UBS Group boosted their target price on shares of Novartis from CHF 85 to CHF 88 and gave the company a “neutral” rating in a research note on Wednesday, April 27th. Finally, raised shares of Novartis from a “hold” rating to a “buy” rating in a research note on Thursday, April 14th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Novartis currently has an average rating of “Hold” and a consensus price target of $87.33.

About Novartis

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Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company operates through two segments, Innovative Medicines and Sandoz. The Innovative Medicines segment offers prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology, dermatology, respiratory, cardiovascular, renal, and metabolism medicine products.

Further Reading

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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