Stonebridge Capital Management Inc. Has $3.36 Million Holdings in Novartis AG (NYSE:NVS)

Stonebridge Capital Management Inc. cut its stake in shares of Novartis AG (NYSE:NVS) by 15.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 36,750 shares of the company’s stock after selling 6,745 shares during the period. Novartis comprises approximately 1.3% of Stonebridge Capital Management Inc.’s investment portfolio, making the stock its 24th biggest position. Stonebridge Capital Management Inc.’s holdings in Novartis were worth $3,355,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in NVS. Comerica Securities Inc. acquired a new position in shares of Novartis in the 4th quarter worth approximately $570,000. Dimensional Fund Advisors LP grew its position in shares of Novartis by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,289,427 shares of the company’s stock worth $196,456,000 after acquiring an additional 15,883 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Novartis by 12.3% in the 4th quarter. Geode Capital Management LLC now owns 45,933 shares of the company’s stock worth $3,941,000 after acquiring an additional 5,027 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Novartis in the 4th quarter worth approximately $327,000. Finally, Actinver Wealth Management Inc. acquired a new position in shares of Novartis in the 4th quarter worth approximately $223,000. Institutional investors own 11.85% of the company’s stock.

NVS stock traded up $0.40 during trading on Wednesday, reaching $92.04. 728,046 shares of the company’s stock were exchanged, compared to its average volume of 2,137,012. The company has a current ratio of 0.94, a quick ratio of 0.74 and a debt-to-equity ratio of 0.43. Novartis AG has a 1-year low of $71.33 and a 1-year high of $95.00. The company has a fifty day simple moving average of $91.33. The stock has a market capitalization of $209.68 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 2.13 and a beta of 0.59.

Novartis (NYSE:NVS) last announced its quarterly earnings results on Thursday, July 18th. The company reported $1.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.14. Novartis had a return on equity of 18.55% and a net margin of 23.27%. The company had revenue of $11.76 billion during the quarter, compared to analyst estimates of $11.45 billion. During the same quarter in the previous year, the firm posted $1.29 EPS. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. On average, analysts anticipate that Novartis AG will post 5.06 earnings per share for the current year.

NVS has been the subject of several research reports. Liberum Capital upgraded Novartis from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. boosted their price objective on from GBX 2,300 ($30.05) to GBX 2,900 ($37.89) and gave the company a “neutral” rating in a research report on Friday, July 5th. Morgan Stanley set a $165.00 price objective on Caterpillar and gave the company a “buy” rating in a research report on Wednesday, April 10th. Guggenheim upgraded Novartis from a “neutral” rating to a “buy” rating and set a $79.16 price objective for the company in a research report on Wednesday, April 24th. Finally, Kepler Capital Markets lowered Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Four analysts have rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Novartis has an average rating of “Hold” and a consensus target price of $90.63.

Novartis Profile

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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