Novartis AG (NVS) Holdings Cut by Neuberger Berman Group LLC

Neuberger Berman Group LLC lessened its holdings in Novartis AG (NYSE:NVS) by 2.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 332,179 shares of the company’s stock after selling 8,606 shares during the quarter. Neuberger Berman Group LLC’s holdings in Novartis were worth $28,518,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the business. Cetera Investment Advisers purchased a new position in shares of Novartis during the 2nd quarter valued at $241,000. Bartlett & Co. LLC lifted its position in shares of Novartis 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 buying an additional 7,249 shares during the last quarter. GFS Advisors LLC lifted its position in shares of Novartis 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 buying an additional 1,300 shares during the last quarter. Schafer Cullen Capital Management Inc. lifted its position in shares of Novartis 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 buying an additional 233,292 shares during the last quarter. Finally, Camden National Bank lifted its position in shares of Novartis by 3.4% during the 3rd quarter. Camden National Bank now owns 57,411 shares of the company’s stock valued at $4,928,000 after buying an additional 1,873 shares during the last quarter. Hedge funds and other institutional investors own 10.85% of the company’s stock.

A number of research analysts have recently commented on NVS shares. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Novartis in a research report on Tuesday, September 5th. Zacks Investment Research raised Novartis from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Leerink Swann upped their price target on Novartis from $89.00 to $91.00 and gave the company a “market perform” rating in a research report on Monday, October 23rd. Bank of America cut Novartis from a “neutral” rating to an “underperform” rating in a research report on Wednesday, December 6th. Finally, Barclays cut Novartis from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, October 25th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $85.32.

Shares of Novartis AG (NVS) opened at $83.49 on Friday. The stock has a market capitalization of $218,690.00, a PE ratio of 17.48, a P/E/G ratio of 2.63 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 1-year low of $69.53 and a 1-year high of $86.90.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Tuesday, October 24th. The company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.04. The business had revenue of $12.41 billion for the quarter, compared to analysts’ expectations of $12.21 billion. Novartis had a return on equity of 15.77% and a net margin of 13.73%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.23 EPS. analysts expect that Novartis AG will post 4.76 earnings per share for the current fiscal year.

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Novartis 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.

Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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