Strategic Wealth Partners Ltd. reduced its holdings in Novartis AG (NYSE:NVS) by 32.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,590 shares of the company’s stock after selling 2,238 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in Novartis were worth $347,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the company. ST Germain D J Co. Inc. grew its position in shares of Novartis by 14.8% in the second quarter. ST Germain D J Co. Inc. now owns 4,765 shares of the company’s stock valued at $360,000 after purchasing an additional 615 shares during the period. American Research & Management Co. grew its position in shares of Novartis by 1.1% in the second quarter. American Research & Management Co. now owns 57,749 shares of the company’s stock valued at $4,362,000 after purchasing an additional 625 shares during the period. King Luther Capital Management Corp grew its position in shares of Novartis by 14.3% in the second quarter. King Luther Capital Management Corp now owns 5,175 shares of the company’s stock valued at $391,000 after purchasing an additional 649 shares during the period. Wesbanco Bank Inc. grew its position in shares of Novartis by 24.2% in the second quarter. Wesbanco Bank Inc. now owns 3,347 shares of the company’s stock valued at $253,000 after purchasing an additional 653 shares during the period. Finally, Sterling Capital Management LLC grew its position in shares of Novartis by 5.3% in the second quarter. Sterling Capital Management LLC now owns 13,127 shares of the company’s stock valued at $992,000 after purchasing an additional 655 shares during the period. 10.94% of the stock is owned by institutional investors and hedge funds.
Shares of NVS traded up $0.58 during midday trading on Friday, reaching $82.78. 1,793,159 shares of the company were exchanged, compared to its average volume of 1,740,625. The stock has a market cap of $199.67 billion, a PE ratio of 17.21, a P/E/G ratio of 1.80 and a beta of 0.83. Novartis AG has a 1-year low of $72.30 and a 1-year high of $94.19. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.15 and a quick ratio of 0.89.
Novartis (NYSE:NVS) last issued its quarterly earnings data on Wednesday, July 18th. The company reported $1.29 EPS for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.02. Novartis had a return on equity of 16.05% and a net margin of 27.06%. The company had revenue of $13.16 billion for the quarter, compared to analysts’ expectations of $12.93 billion. During the same quarter in the previous year, the firm posted $1.22 earnings per share. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. On average, research analysts anticipate that Novartis AG will post 5.17 earnings per share for the current year.
In related news, major shareholder Bioventures Ltd Novartis sold 8,181 shares of the business’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $3.22, for a total value of $26,342.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders sold 81,322 shares of company stock worth $290,796. Insiders own 0.01% of the company’s stock.
A number of research analysts recently weighed in on the company. ValuEngine cut Novartis from a “sell” rating to a “strong sell” rating in a report on Monday, July 2nd. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Novartis in a report on Thursday. Goldman Sachs Group reiterated a “neutral” rating on shares of Novartis in a report on Wednesday. DZ Bank reiterated a “buy” rating on shares of Novartis in a report on Thursday, July 19th. Finally, Zacks Investment Research upgraded Novartis from a “sell” rating to a “hold” rating in a research note on Tuesday, June 19th. Thirteen investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $86.90.
Novartis AG researches, develops, manufactures, and markets a range of healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines to enhance health outcomes for patients and health-care providers. This segment also commercializes products in the areas of oncology and rare diseases, ophthalmology, immunology and dermatology, neuroscience, respiratory, cardio-metabolic, and established medicines.
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