Occidental Asset Management LLC Has $374,000 Position in Novartis AG (NYSE:NVS)

Occidental Asset Management LLC reduced its holdings in shares of Novartis AG (NYSE:NVS) by 5.7% during the 2nd quarter, Holdings Channel.com reports. The fund owned 3,703 shares of the company’s stock after selling 225 shares during the period. Occidental Asset Management LLC’s holdings in Novartis were worth $374,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Worth Asset Management LLC boosted its position in shares of Novartis by 33.9% during the 2nd quarter. Worth Asset Management LLC now owns 672 shares of the company’s stock valued at $68,000 after acquiring an additional 170 shares in the last quarter. Kathmere Capital Management LLC boosted its position in shares of Novartis by 7.9% during the 2nd quarter. Kathmere Capital Management LLC now owns 10,265 shares of the company’s stock valued at $1,036,000 after acquiring an additional 755 shares in the last quarter. Flagship Harbor Advisors LLC boosted its position in shares of Novartis by 34.3% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 3,875 shares of the company’s stock valued at $391,000 after acquiring an additional 989 shares in the last quarter. Level Four Advisory Services LLC boosted its position in shares of Novartis by 16.6% during the 2nd quarter. Level Four Advisory Services LLC now owns 12,926 shares of the company’s stock valued at $1,304,000 after acquiring an additional 1,838 shares in the last quarter. Finally, Financial Management Professionals Inc. boosted its position in shares of Novartis by 750.0% during the 2nd quarter. Financial Management Professionals Inc. now owns 289 shares of the company’s stock valued at $29,000 after acquiring an additional 255 shares in the last quarter. 7.00% of the stock is currently owned by institutional investors and hedge funds.

Novartis Price Performance

Shares of NVS stock opened at $102.09 on Tuesday. Novartis AG has a 1 year low of $74.09 and a 1 year high of $105.61. The firm’s 50 day moving average is $101.71 and its 200-day moving average is $98.14. The firm has a market capitalization of $216.39 billion, a price-to-earnings ratio of 28.44, a PEG ratio of 1.77 and a beta of 0.54. The company has a current ratio of 1.05, a quick ratio of 0.79 and a debt-to-equity ratio of 0.35.

Novartis (NYSE:NVS) last announced its earnings results on Wednesday, July 19th. The company reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.15. The company had revenue of $13.62 billion for the quarter, compared to analyst estimates of $6.32 million. Novartis had a net margin of 14.76% and a return on equity of 25.12%. Novartis’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.56 earnings per share. Sell-side analysts forecast that Novartis AG will post 6.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on NVS shares. HSBC started coverage on shares of Novartis in a research report on Friday, July 14th. They issued a “buy” rating on the stock. StockNews.com started coverage on shares of Novartis in a research report on Thursday, August 17th. They issued a “strong-buy” rating on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $80.00.

Novartis Company Profile

Novartis AG researches, develops, manufactures, and markets healthcare products in Switzerland and internationally. The company operates through two segments: Innovative Medicines and Sandoz. The Innovative Medicines segment offers prescription medicines for patients and physicians. It also provides cardiovascular, ophthalmology, neuroscience, immunology, hematology, and solid tumor products.