Novartis AG (NYSE:NVS) Shares Sold by Morningstar Investment Services LLC

Morningstar Investment Services LLC cut its holdings in shares of Novartis AG (NYSE:NVS) by 3.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 500,940 shares of the company’s stock after selling 20,380 shares during the period. Morningstar Investment Services LLC’s holdings in Novartis were worth $43,747,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Norway Savings Bank raised its position in Novartis by 0.9% in the second quarter. Norway Savings Bank now owns 12,598 shares of the company’s stock worth $1,101,000 after acquiring an additional 115 shares in the last quarter. Occidental Asset Management LLC increased its holdings in shares of Novartis by 3.3% in the first quarter. Occidental Asset Management LLC now owns 3,696 shares of the company’s stock valued at $305,000 after buying an additional 118 shares in the last quarter. West Oak Capital LLC lifted its position in shares of Novartis by 0.7% during the 2nd quarter. West Oak Capital LLC now owns 17,045 shares of the company’s stock valued at $1,489,000 after acquiring an additional 120 shares during the last quarter. Financial Management Professionals Inc. grew its holdings in shares of Novartis by 22.0% in the 2nd quarter. Financial Management Professionals Inc. now owns 671 shares of the company’s stock worth $59,000 after acquiring an additional 121 shares during the last quarter. Finally, Nachman Norwood & Parrott Inc grew its holdings in shares of Novartis by 2.3% in the 1st quarter. Nachman Norwood & Parrott Inc now owns 5,706 shares of the company’s stock worth $470,000 after acquiring an additional 129 shares during the last quarter. Hedge funds and other institutional investors own 10.80% of the company’s stock.

A number of equities analysts recently weighed in on NVS shares. Morgan Stanley reissued an “equal weight” rating on shares of Novartis in a research note on Tuesday. ValuEngine downgraded shares of Novartis from a “hold” rating to a “sell” rating in a research report on Friday, June 5th. JPMorgan Chase & Co. restated an “underweight” rating on shares of Novartis in a research report on Wednesday, April 29th. Citigroup upgraded shares of Novartis from a “neutral” rating to a “buy” rating in a research report on Monday, June 15th. Finally, Goldman Sachs Group restated a “buy” rating and issued a $116.00 target price on shares of Novartis in a report on Friday, April 3rd. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $108.00.

NVS stock traded down $2.09 during midday trading on Friday, reaching $82.14. The company had a trading volume of 2,341,202 shares, compared to its average volume of 1,477,156. The company has a 50 day moving average of $87.16 and a two-hundred day moving average of $87.43. The company has a current ratio of 0.81, a quick ratio of 0.58 and a debt-to-equity ratio of 0.48. Novartis AG has a 1 year low of $69.18 and a 1 year high of $99.84. The company has a market capitalization of $192.78 billion, a P/E ratio of 26.16, a PEG ratio of 1.82 and a beta of 0.50.

Novartis (NYSE:NVS) last released its quarterly earnings data on Tuesday, July 21st. The company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.05. Novartis had a return on equity of 24.14% and a net margin of 14.96%. The firm had revenue of $11.35 billion during the quarter, compared to analysts’ expectations of $11.77 billion. During the same quarter last year, the firm earned $1.34 earnings per share. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. On average, sell-side analysts anticipate that Novartis AG will post 5.67 earnings per share for the current year.

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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