Northern Capital Management LLC reduced its stake in shares of Novartis AG (NYSE:NVS) by 1.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,902 shares of the company’s stock after selling 415 shares during the period. Northern Capital Management LLC’s holdings in Novartis AG were worth $2,055,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Agur Provident & Training Funds Management Ltd. bought a new stake in Novartis AG during the first quarter valued at $1,510,000. RMB Capital Management LLC increased its stake in Novartis AG by 1.4% in the first quarter. RMB Capital Management LLC now owns 26,331 shares of the company’s stock valued at $1,906,000 after buying an additional 372 shares during the period. Stratos Wealth Partners LTD. increased its stake in Novartis AG by 79.3% in the first quarter. Stratos Wealth Partners LTD. now owns 24,728 shares of the company’s stock valued at $1,791,000 after buying an additional 10,939 shares during the period. Ngam Advisors L.P. increased its stake in Novartis AG by 34.9% in the first quarter. Ngam Advisors L.P. now owns 776,559 shares of the company’s stock valued at $56,255,000 after buying an additional 200,917 shares during the period. Finally, AR Asset Management Inc. increased its stake in Novartis AG by 138.6% in the first quarter. AR Asset Management Inc. now owns 17,300 shares of the company’s stock valued at $1,253,000 after buying an additional 10,050 shares during the period. Hedge funds and other institutional investors own 9.78% of the company’s stock.
Novartis AG (NYSE:NVS) traded down 0.37% during midday trading on Friday, hitting $78.96. 3,635,597 shares of the stock traded hands. The company’s 50-day moving average is $80.47 and its 200-day moving average is $78.66. The company has a market cap of $188.02 billion, a PE ratio of 28.19 and a beta of 0.58. Novartis AG has a one year low of $69.90 and a one year high of $95.11.
Novartis AG (NYSE:NVS) last announced its quarterly earnings data on Tuesday, July 19th. The company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.05. The business had revenue of $12.47 billion for the quarter, compared to the consensus estimate of $12.33 billion. Novartis AG had a net margin of 13.84% and a return on equity of 15.33%. During the same quarter in the prior year, the firm posted $1.25 earnings per share. Equities research analysts expect that Novartis AG will post $4.72 EPS for the current fiscal year.
Several analysts recently weighed in on the stock. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Novartis AG in a report on Wednesday, July 13th. Bank of America Corp. reissued a “hold” rating on shares of Novartis AG in a research report on Tuesday, July 12th. Zacks Investment Research cut shares of Novartis AG from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th. Argus reissued a “hold” rating on shares of Novartis AG in a research report on Thursday, August 25th. Finally, Chardan Capital assumed coverage on shares of Novartis AG in a research report on Tuesday, September 20th. They issued a “buy” rating and a $95.00 price target for the company. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Novartis AG currently has a consensus rating of “Hold” and a consensus target price of $91.83.
Novartis AG Company Profile
Novartis AG is a holding company. The Company specializes in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals, including eye care products. Its portfolio includes medicines, eye care and generic pharmaceuticals. The Company’s segments include Pharmaceuticals, Alcon and Sandoz.
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).
Receive News & Ratings for Novartis AG Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novartis AG and related companies with MarketBeat.com's FREE daily email newsletter.