NorthCrest Asset Manangement LLC Has $2.07 Million Stake in Novartis AG (NYSE:NVS)

NorthCrest Asset Manangement LLC lowered its stake in Novartis AG (NYSE:NVS) by 6.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,555 shares of the company’s stock after selling 1,263 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Novartis were worth $2,068,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in NVS. West Oak Capital LLC boosted its position in Novartis by 0.7% during the first quarter. West Oak Capital LLC now owns 18,913 shares of the company’s stock worth $2,108,000 after purchasing an additional 135 shares during the period. apricus wealth LLC grew its stake in Novartis by 6.9% in the 1st quarter. apricus wealth LLC now owns 23,308 shares of the company’s stock valued at $2,598,000 after buying an additional 1,495 shares during the last quarter. Simon Quick Advisors LLC raised its holdings in Novartis by 34.6% in the 1st quarter. Simon Quick Advisors LLC now owns 5,732 shares of the company’s stock worth $639,000 after acquiring an additional 1,475 shares during the period. Baker Ellis Asset Management LLC boosted its holdings in Novartis by 9.1% during the first quarter. Baker Ellis Asset Management LLC now owns 12,361 shares of the company’s stock valued at $1,378,000 after acquiring an additional 1,034 shares during the period. Finally, Foresight Capital Management Advisors Inc. grew its position in shares of Novartis by 4.1% in the first quarter. Foresight Capital Management Advisors Inc. now owns 25,616 shares of the company’s stock valued at $2,856,000 after purchasing an additional 1,012 shares during the last quarter. Institutional investors own 13.12% of the company’s stock.

Novartis Price Performance

Shares of NYSE:NVS opened at $119.34 on Friday. The firm has a market capitalization of $252.10 billion, a PE ratio of 20.30, a PEG ratio of 1.70 and a beta of 0.59. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.48. Novartis AG has a 1-year low of $96.06 and a 1-year high of $120.92. The business’s 50 day moving average is $111.84 and its 200-day moving average is $107.09.

Novartis (NYSE:NVS) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.16. The firm had revenue of $13.23 billion for the quarter, compared to analyst estimates of $12.92 billion. Novartis had a net margin of 23.56% and a return on equity of 37.24%. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.80 EPS. Sell-side analysts predict that Novartis AG will post 8.45 earnings per share for the current year.

Analysts Set New Price Targets

Separately, BNP Paribas raised Novartis to a “strong-buy” rating in a research report on Tuesday, April 15th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Novartis has an average rating of “Hold” and a consensus target price of $123.38.

Novartis Company Profile

Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.