Novartis AG (NYSE:NVS) Shares Sold by Intellectus Partners LLC

Intellectus Partners LLC cut its position in shares of Novartis AG (NYSE:NVS) by 9.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 5,729 shares of the company’s stock after selling 572 shares during the period. Intellectus Partners LLC’s holdings in Novartis were worth $498,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Asset Dedication LLC raised its holdings in Novartis by 98.7% during the second quarter. Asset Dedication LLC now owns 304 shares of the company’s stock worth $27,000 after purchasing an additional 151 shares during the last quarter. Moneta Group Investment Advisors LLC increased its position in Novartis by 795.8% during the second quarter. Moneta Group Investment Advisors LLC now owns 2,750 shares of the company’s stock worth $27,000 after buying an additional 2,443 shares in the last quarter. Vigilant Capital Management LLC purchased a new position in Novartis during the second quarter worth $37,000. Anderson Fisher LLC purchased a new position in Novartis during the second quarter worth $39,000. Finally, Manchester Financial Inc. purchased a new position in Novartis during the second quarter worth $45,000. 11.19% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have weighed in on the company. Jefferies Financial Group reissued a “buy” rating on shares of Novartis in a research report on Thursday, August 29th. JPMorgan Chase & Co. reissued a “sell” rating on shares of Novartis in a research report on Friday, July 5th. Kepler Capital Markets downgraded Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Zacks Investment Research downgraded Novartis from a “buy” rating to a “hold” rating and set a $100.00 price target for the company. in a research report on Friday, July 19th. Finally, ValuEngine downgraded Novartis from a “hold” rating to a “sell” rating in a research report on Thursday, September 12th. Five investment analysts have rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $93.29.

Shares of NYSE:NVS opened at $86.60 on Friday. The company has a market cap of $196.38 billion, a P/E ratio of 16.90, a P/E/G ratio of 2.28 and a beta of 0.59. The company has a quick ratio of 0.74, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. Novartis AG has a 52 week low of $72.19 and a 52 week high of $95.00. The business has a fifty day simple moving average of $87.66 and a 200-day simple moving average of $87.91.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Thursday, July 18th. The company reported $1.34 EPS for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.14. The business had revenue of $11.76 billion during the quarter, compared to the consensus estimate of $11.45 billion. Novartis had a return on equity of 18.55% and a net margin of 23.27%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.29 earnings per share. Sell-side analysts expect that Novartis AG will post 5.15 earnings per share for the current fiscal year.

Novartis Company 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.

Featured Article: Market Perform

Want to see what other hedge funds are holding NVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Novartis AG (NYSE:NVS).

Institutional Ownership by Quarter for Novartis (NYSE:NVS)

Receive News & Ratings for Novartis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novartis and related companies with MarketBeat.com's FREE daily email newsletter.