Avalon Investment & Advisory reduced its position in Novartis AG (NYSE:NVS) by 18.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,688 shares of the company’s stock after selling 19,093 shares during the quarter. Avalon Investment & Advisory’s holdings in Novartis were worth $7,397,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in NVS. Advisory Alpha LLC acquired a new position in shares of Novartis in the first quarter valued at approximately $26,000. Creative Financial Designs Inc. ADV raised its holdings in shares of Novartis by 262.0% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 333 shares of the company’s stock worth $29,000 after purchasing an additional 241 shares during the period. Proffitt & Goodson Inc. purchased a new position in shares of Novartis in the 2nd quarter worth about $33,000. Weaver Consulting Group raised its holdings in shares of Novartis by 46.4% in the 2nd quarter. Weaver Consulting Group now owns 410 shares of the company’s stock worth $36,000 after purchasing an additional 130 shares during the period. Finally, Hoover Financial Advisors Inc. purchased a new position in shares of Novartis in the 2nd quarter worth about $40,000. 10.80% of the stock is owned by institutional investors and hedge funds.
NVS has been the topic of a number of research reports. UBS Group restated a “neutral” rating on shares of Novartis in a report on Monday, May 11th. Barclays reiterated an “underweight” rating on shares of Novartis in a research note on Wednesday, April 29th. Morgan Stanley reiterated an “equal weight” rating on shares of Novartis in a research note on Tuesday, July 28th. ValuEngine lowered Novartis from a “hold” rating to a “sell” rating in a research note on Friday, June 5th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Novartis in a research note on Wednesday, August 12th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. Novartis presently has an average rating of “Hold” and an average target price of $108.00.
NVS traded up $1.63 on Thursday, hitting $87.10. 32,006 shares of the stock traded hands, compared to its average volume of 1,831,566. Novartis AG has a 52 week low of $69.18 and a 52 week high of $99.84. The company has a current ratio of 0.81, a quick ratio of 0.58 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $195.98 billion, a PE ratio of 27.39, a P/E/G ratio of 1.84 and a beta of 0.46. The business has a fifty day moving average price of $85.51 and a two-hundred day moving average price of $86.37.
Novartis (NYSE:NVS) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $11.77 billion. During the same period in the previous year, the company posted $1.34 earnings per share. The company’s quarterly revenue was down 3.5% compared to the same quarter last year. On average, equities research analysts forecast that Novartis AG will post 5.72 EPS 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.
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