Raymond James Trust N.A. Has $3.59 Million Stock Position in Novartis AG (NYSE:NVS)

Raymond James Trust N.A. reduced its position in shares of Novartis AG (NYSE:NVS) by 0.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 37,996 shares of the company’s stock after selling 135 shares during the quarter. Raymond James Trust N.A.’s holdings in Novartis were worth $3,588,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of NVS. Rockbridge Investment Management LCC purchased a new stake in Novartis in the 2nd quarter valued at about $25,000. Simon Quick Advisors LLC purchased a new stake in shares of Novartis during the third quarter valued at approximately $26,000. TFC Financial Management purchased a new stake in shares of Novartis during the third quarter valued at approximately $29,000. Northwest Investment Counselors LLC purchased a new stake in shares of Novartis during the 3rd quarter valued at $33,000. Finally, TRUE Private Wealth Advisors purchased a new stake in shares of Novartis during the 3rd quarter valued at $34,000. 9.06% of the stock is currently owned by institutional investors and hedge funds.

Shares of NVS opened at $93.31 on Thursday. The firm has a market cap of $213.56 billion, a PE ratio of 30.20, a P/E/G ratio of 1.96 and a beta of 0.58. The company has a current ratio of 0.91, a quick ratio of 0.69 and a debt-to-equity ratio of 0.49. The firm has a fifty day simple moving average of $91.65 and a two-hundred day simple moving average of $87.46. Novartis AG has a 1-year low of $69.18 and a 1-year high of $99.84.

Novartis (NYSE:NVS) last issued its quarterly earnings results on Sunday, November 1st. The company reported $1.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.07. The business had revenue of $12.26 billion during the quarter, compared to analyst estimates of $12.58 billion. Novartis had a return on equity of 24.39% and a net margin of 14.71%. Novartis’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.41 EPS. As a group, research analysts forecast that Novartis AG will post 5.81 EPS for the current fiscal year.

Several equities research analysts recently weighed in on NVS shares. Morgan Stanley reissued an “overweight” rating on shares of Novartis in a report on Friday, January 8th. Oddo Bhf lowered shares of Novartis from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 23rd. JPMorgan Chase & Co. restated an “underweight” rating on shares of Novartis in a research report on Tuesday, November 10th. BidaskClub upgraded Novartis from a “hold” rating to a “buy” rating in a research report on Tuesday, January 5th. Finally, Berenberg Bank initiated coverage on Novartis in a report on Tuesday, September 29th. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $114.00.

Novartis Company Profile

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. Its Innovative Medicines segment offers prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, established, and cardiovascular, renal and metabolism medicine products.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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