Cannell Peter B & Co. Inc. Has $1.74 Million Position in Novartis AG (NVS)

Cannell Peter B & Co. Inc. reduced its stake in shares of Novartis AG (NYSE:NVS) by 3.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,156 shares of the company’s stock after selling 675 shares during the period. Cannell Peter B & Co. Inc.’s holdings in Novartis were worth $1,737,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. Palisade Asset Management LLC raised its position in shares of Novartis by 2.7% in the 3rd quarter. Palisade Asset Management LLC now owns 22,117 shares of the company’s stock worth $1,906,000 after acquiring an additional 588 shares in the last quarter. Ferguson Wellman Capital Management Inc. raised its position in shares of Novartis by 9.2% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 7,000 shares of the company’s stock worth $603,000 after acquiring an additional 590 shares in the last quarter. LeJeune Puetz Investment Counsel LLC raised its position in shares of Novartis by 11.3% in the 3rd quarter. LeJeune Puetz Investment Counsel LLC now owns 5,925 shares of the company’s stock worth $510,000 after acquiring an additional 600 shares in the last quarter. Dempze Nancy E raised its position in shares of Novartis by 2.4% in the 3rd quarter. Dempze Nancy E now owns 25,560 shares of the company’s stock worth $2,203,000 after acquiring an additional 608 shares in the last quarter. Finally, ST Germain D J Co. Inc. raised its position in shares of Novartis by 14.8% in the 2nd quarter. ST Germain D J Co. Inc. now owns 4,765 shares of the company’s stock worth $360,000 after acquiring an additional 615 shares in the last quarter. 10.95% of the stock is owned by institutional investors and hedge funds.

Shares of NVS opened at $89.24 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.20 and a quick ratio of 0.96. The stock has a market capitalization of $203.75 billion, a PE ratio of 18.55, a PEG ratio of 1.95 and a beta of 0.73. Novartis AG has a one year low of $72.30 and a one year high of $94.19.

Novartis (NYSE:NVS) last issued its earnings results on Thursday, October 18th. The company reported $1.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.01. The company had revenue of $12.78 billion during the quarter, compared to the consensus estimate of $12.88 billion. Novartis had a return on equity of 15.81% and a net margin of 25.98%. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period last year, the business posted $1.29 EPS. On average, sell-side analysts forecast that Novartis AG will post 5.17 earnings per share for the current fiscal year.

Several research firms have recently weighed in on NVS. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Novartis in a research report on Tuesday. DZ Bank reissued a “buy” rating on shares of Novartis in a research report on Thursday, July 19th. Goldman Sachs Group reissued a “neutral” rating on shares of Novartis in a research report on Wednesday, October 10th. Barclays raised Novartis from an “underweight” rating to an “equal weight” rating in a research report on Thursday, July 19th. Finally, ValuEngine raised Novartis from a “sell” rating to a “hold” rating in a research report on Wednesday, September 12th. Twelve equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $84.86.

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Novartis Company Profile

Novartis AG researches, develops, manufactures, and markets a range of healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines to enhance health outcomes for patients and health-care providers. This segment also commercializes products in the areas of oncology and rare diseases, ophthalmology, immunology and dermatology, neuroscience, respiratory, cardio-metabolic, and established medicines.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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