LaFleur & Godfrey LLC trimmed its holdings in shares of Novartis AG (NYSE:NVS) by 3.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,744 shares of the company’s stock after selling 1,627 shares during the period. LaFleur & Godfrey LLC’s holdings in Novartis AG were worth $3,841,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Cetera Investment Advisers acquired a new stake in Novartis AG during the 2nd quarter valued at approximately $241,000. Bartlett & Co. LLC lifted its stake in Novartis AG by 1.6% during the 3rd quarter. Bartlett & Co. LLC now owns 473,081 shares of the company’s stock valued at $40,614,000 after acquiring an additional 7,249 shares during the period. Westwood Holdings Group Inc. lifted its stake in Novartis AG by 5.6% during the 1st quarter. Westwood Holdings Group Inc. now owns 5,405 shares of the company’s stock valued at $401,000 after acquiring an additional 285 shares during the period. GFS Advisors LLC lifted its stake in Novartis AG by 6.5% during the 2nd quarter. GFS Advisors LLC now owns 21,314 shares of the company’s stock valued at $1,779,000 after acquiring an additional 1,300 shares during the period. Finally, Schafer Cullen Capital Management Inc. lifted its stake in Novartis AG by 9.2% during the 2nd quarter. Schafer Cullen Capital Management Inc. now owns 2,780,606 shares of the company’s stock valued at $232,097,000 after acquiring an additional 233,292 shares during the period. Institutional investors and hedge funds own 10.94% of the company’s stock.
NVS has been the subject of several research reports. Barclays PLC cut shares of Novartis AG from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, October 25th. Zacks Investment Research cut shares of Novartis AG from a “hold” rating to a “sell” rating in a research note on Monday, July 10th. BidaskClub upgraded shares of Novartis AG from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Morgan Stanley raised shares of Novartis AG from an “underweight” rating to an “overweight” rating in a report on Wednesday, July 26th. Finally, J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Novartis AG in a report on Monday, July 10th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $85.28.
Shares of Novartis AG (NVS) traded up 1.45% during midday trading on Monday, reaching $81.89. 658,070 shares of the company traded hands. The stock’s 50-day moving average is $85.31 and its 200-day moving average is $82.51. The stock has a market capitalization of $191.86 billion, a P/E ratio of 29.90 and a beta of 0.73. Novartis AG has a 1-year low of $66.93 and a 1-year high of $86.90.
Novartis AG (NYSE:NVS) last released its earnings results on Tuesday, October 24th. The company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.04. Novartis AG had a return on equity of 15.77% and a net margin of 13.73%. The company had revenue of $12.41 billion during the quarter, compared to the consensus estimate of $12.21 billion. During the same quarter last year, the company earned $1.23 earnings per share. Novartis AG’s quarterly revenue was up 2.4% compared to the same quarter last year. Equities analysts predict that Novartis AG will post $4.77 EPS for the current fiscal year.
Novartis AG 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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