Novartis AG (NYSE:NVS) Shares Sold by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC cut its holdings in Novartis AG (NYSE:NVS) by 0.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 57,153 shares of the company’s stock after selling 143 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Novartis were worth $6,084,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Magnetar Financial LLC increased its stake in shares of Novartis by 53.7% in the first quarter. Magnetar Financial LLC now owns 1,906,046 shares of the company’s stock valued at $184,372,000 after purchasing an additional 666,104 shares during the period. Mondrian Investment Partners LTD increased its holdings in shares of Novartis by 40.1% during the first quarter. Mondrian Investment Partners LTD now owns 2,065,739 shares of the company’s stock valued at $199,819,000 after purchasing an additional 590,830 shares during the period. Morningstar Investment Services LLC increased its holdings in shares of Novartis by 99.0% during the fourth quarter. Morningstar Investment Services LLC now owns 746,836 shares of the company’s stock valued at $74,661,000 after purchasing an additional 371,590 shares during the period. First Financial Bankshares Inc acquired a new stake in shares of Novartis in the 4th quarter worth approximately $32,003,000. Finally, Teachers Retirement System of The State of Kentucky bought a new position in shares of Novartis in the first quarter valued at approximately $16,715,000. Institutional investors own 13.12% of the company’s stock.

Novartis Trading Up 0.9 %

Shares of NYSE:NVS traded up $0.98 during mid-day trading on Wednesday, hitting $113.51. The stock had a trading volume of 244,734 shares, compared to its average volume of 1,449,332. The company’s 50 day moving average is $108.33 and its 200-day moving average is $102.60. Novartis AG has a 12-month low of $92.19 and a 12-month high of $113.56. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.72 and a current ratio of 0.93. The company has a market cap of $232.01 billion, a PE ratio of 15.19, a P/E/G ratio of 1.64 and a beta of 0.57.

Novartis (NYSE:NVS) last released its earnings results on Thursday, July 18th. The company reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.10. Novartis had a return on equity of 34.56% and a net margin of 33.76%. The company had revenue of $12.87 billion during the quarter, compared to analyst estimates of $12.24 billion. During the same quarter in the prior year, the company earned $1.83 earnings per share. On average, sell-side analysts predict that Novartis AG will post 7.44 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NVS. BMO Capital Markets boosted their price objective on Novartis from $114.00 to $116.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 24th. Barclays raised shares of Novartis to a “strong sell” rating in a report on Monday, June 24th. Jefferies Financial Group raised their price objective on shares of Novartis from $121.00 to $122.50 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Novartis in a research note on Friday, July 19th. Finally, The Goldman Sachs Group assumed coverage on Novartis in a report on Thursday, May 30th. They issued a “buy” rating and a $120.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $118.13.

Novartis Company Profile

Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.