Scharf Investments LLC Sells 23,275 Shares of Novartis AG (NVS)

Scharf Investments LLC cut its stake in shares of Novartis AG (NYSE:NVS) by 2.4% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 939,552 shares of the company’s stock after selling 23,275 shares during the period. Novartis makes up approximately 2.0% of Scharf Investments LLC’s holdings, making the stock its 24th largest holding. Scharf Investments LLC’s holdings in Novartis were worth $80,660,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in NVS. Venturi Wealth Management LLC acquired a new position in shares of Novartis in the 3rd quarter valued at approximately $203,000. Synovus Financial Corp raised its position in shares of Novartis by 3.5% in the 3rd quarter. Synovus Financial Corp now owns 40,362 shares of the company’s stock valued at $3,469,000 after purchasing an additional 1,347 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Novartis by 3.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 621,146 shares of the company’s stock valued at $53,327,000 after purchasing an additional 19,704 shares in the last quarter. SevenBridge Financial Group LLC raised its position in shares of Novartis by 6.4% in the 3rd quarter. SevenBridge Financial Group LLC now owns 18,762 shares of the company’s stock valued at $1,611,000 after purchasing an additional 1,124 shares in the last quarter. Finally, Private Advisor Group LLC raised its position in shares of Novartis by 11.4% in the 3rd quarter. Private Advisor Group LLC now owns 26,518 shares of the company’s stock valued at $2,267,000 after purchasing an additional 2,724 shares in the last quarter. 10.87% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have issued reports on the company. Zacks Investment Research raised Novartis from a “hold” rating to a “buy” rating and set a $96.00 target price on the stock in a research report on Tuesday, September 19th. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Novartis in a research report on Tuesday, October 24th. Barclays downgraded Novartis from an “equal weight” rating to an “underweight” rating in a report on Wednesday, October 25th. BidaskClub upgraded Novartis from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. Finally, Cowen set a $90.00 price target on Novartis and gave the company a “hold” rating in a report on Wednesday, August 9th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. Novartis has a consensus rating of “Hold” and a consensus target price of $85.32.

Shares of Novartis AG (NYSE:NVS) traded down $0.66 on Thursday, reaching $83.18. The company had a trading volume of 1,256,800 shares, compared to its average volume of 2,275,874. The company has a market cap of $198,331.47, a P/E ratio of 17.65, a P/E/G ratio of 2.67 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.81 and a current ratio of 1.08. Novartis AG has a 52-week low of $66.93 and a 52-week high of $86.90.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Tuesday, October 24th. The company reported $1.29 EPS for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.04. The firm had revenue of $12.41 billion during the quarter, compared to the consensus estimate of $12.21 billion. Novartis had a return on equity of 15.77% and a net margin of 13.73%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.23 EPS. equities analysts predict that Novartis AG will post 4.75 EPS for the current year.

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About Novartis

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.

Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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