Fiera Capital Corp cut its stake in shares of Novartis AG (NYSE:NVS) by 4.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 299,487 shares of the company’s stock after selling 14,525 shares during the quarter. Fiera Capital Corp’s holdings in Novartis AG were worth $24,998,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in NVS. City Holding Co. lifted its holdings in Novartis AG by 4.6% in the 2nd quarter. City Holding Co. now owns 1,217 shares of the company’s stock worth $102,000 after purchasing an additional 54 shares in the last quarter. TCI Wealth Advisors Inc. lifted its holdings in Novartis AG by 20.0% in the 1st quarter. TCI Wealth Advisors Inc. now owns 1,381 shares of the company’s stock worth $103,000 after purchasing an additional 230 shares in the last quarter. Archford Capital Strategies LLC lifted its holdings in Novartis AG by 72.3% in the 1st quarter. Archford Capital Strategies LLC now owns 1,480 shares of the company’s stock worth $110,000 after purchasing an additional 621 shares in the last quarter. Kernodle & Katon Asset Management Group LLC lifted its holdings in Novartis AG by 3.4% in the 1st quarter. Kernodle & Katon Asset Management Group LLC now owns 1,488 shares of the company’s stock worth $111,000 after purchasing an additional 49 shares in the last quarter. Finally, Massey Quick & Co. LLC purchased a new position in Novartis AG in the 1st quarter worth approximately $119,000. Institutional investors own 10.98% of the company’s stock.
NVS has been the topic of a number of research analyst reports. Zacks Investment Research cut Novartis AG from a “hold” rating to a “sell” rating in a report on Monday, July 10th. Credit Suisse Group cut Novartis AG from a “neutral” rating to an “underperform” rating and set a $82.25 price target on the stock. in a report on Wednesday, July 5th. Morgan Stanley raised Novartis AG from an “underweight” rating to an “overweight” rating in a report on Wednesday, July 26th. J P Morgan Chase & Co reissued a “neutral” rating on shares of Novartis AG in a report on Tuesday, August 29th. Finally, Leerink Swann reissued a “market perform” rating and issued a $83.00 price target on shares of Novartis AG in a report on Thursday, June 22nd. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $83.56.
In other news, major shareholder Bioventures Ltd Novartis purchased 266,667 shares of the stock in a transaction dated Wednesday, July 5th. The shares were purchased at an average cost of $15.00 per share, with a total value of $4,000,005.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.01% of the company’s stock.
Shares of Novartis AG (NYSE NVS) opened at 85.77 on Friday. The stock has a market capitalization of $200.95 billion, a PE ratio of 31.31 and a beta of 0.74. The stock’s 50 day moving average price is $84.26 and its 200 day moving average price is $80.24. Novartis AG has a one year low of $66.93 and a one year high of $86.90.
Novartis AG (NYSE:NVS) last issued its quarterly earnings results on Tuesday, July 18th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.06. The firm had revenue of $12.24 billion for the quarter, compared to analyst estimates of $12.20 billion. Novartis AG had a return on equity of 15.51% and a net margin of 13.52%. The business’s revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.23 earnings per share. Equities research analysts predict that Novartis AG will post $4.75 EPS for the current fiscal year.
Novartis AG Company Profile
Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.
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