Mcdaniel Terry & Co. Decreases Stock Position in Novartis AG $NVS

Mcdaniel Terry & Co. trimmed its position in Novartis AG (NYSE:NVS) by 10.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,500 shares of the company’s stock after selling 395 shares during the period. Mcdaniel Terry & Co.’s holdings in Novartis were worth $424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sonora Investment Management Group LLC purchased a new position in Novartis during the second quarter valued at $266,000. Cypress Capital Group raised its holdings in shares of Novartis by 84.1% during the 2nd quarter. Cypress Capital Group now owns 5,776 shares of the company’s stock worth $699,000 after acquiring an additional 2,638 shares during the period. Focus Partners Wealth increased its holdings in shares of Novartis by 16.8% during the 1st quarter. Focus Partners Wealth now owns 47,548 shares of the company’s stock worth $5,311,000 after buying an additional 6,849 shares during the last quarter. Marshall Financial Group LLC purchased a new position in shares of Novartis during the 2nd quarter worth $1,909,000. Finally, DAVENPORT & Co LLC increased its position in shares of Novartis by 8.9% during the second quarter. DAVENPORT & Co LLC now owns 33,683 shares of the company’s stock valued at $4,076,000 after acquiring an additional 2,758 shares during the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Trading Down 0.9%

Shares of NVS opened at $130.48 on Friday. The firm has a market capitalization of $275.64 billion, a P/E ratio of 18.99, a price-to-earnings-growth ratio of 1.84 and a beta of 0.64. The company has a current ratio of 0.82, a quick ratio of 0.62 and a debt-to-equity ratio of 0.53. The stock’s fifty day simple moving average is $127.56 and its 200 day simple moving average is $119.37. Novartis AG has a twelve month low of $96.06 and a twelve month high of $133.55.

Analyst Ratings Changes

A number of research analysts recently weighed in on NVS shares. Wall Street Zen upgraded shares of Novartis from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Novartis in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Novartis in a research note on Thursday, August 21st. Morgan Stanley upgraded shares of Novartis from an “underweight” rating to an “equal weight” rating and set a $123.00 price objective on the stock in a research note on Friday, August 8th. Finally, The Goldman Sachs Group reiterated a “sell” rating and issued a $118.00 price objective (down from $119.00) on shares of Novartis in a research report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $120.33.

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.