Confluence Investment Management LLC Buys 4,262 Shares of Novartis AG (NVS)

Confluence Investment Management LLC boosted its stake in shares of Novartis AG (NYSE:NVS) by 2.0% during the 1st quarter, HoldingsChannel.com reports. The firm owned 218,512 shares of the company’s stock after acquiring an additional 4,262 shares during the period. Confluence Investment Management LLC’s holdings in Novartis were worth $21,008,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of NVS. HC Financial Advisors Inc. increased its holdings in shares of Novartis by 5.1% in the 3rd quarter. HC Financial Advisors Inc. now owns 16,934 shares of the company’s stock valued at $1,459,000 after acquiring an additional 816 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Novartis by 526.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 635,797 shares of the company’s stock valued at $54,780,000 after acquiring an additional 534,268 shares during the last quarter. LPL Financial LLC increased its holdings in shares of Novartis by 8.8% in the 3rd quarter. LPL Financial LLC now owns 131,627 shares of the company’s stock valued at $11,341,000 after acquiring an additional 10,598 shares during the last quarter. Dodge & Cox increased its holdings in shares of Novartis by 0.5% in the 3rd quarter. Dodge & Cox now owns 44,361,387 shares of the company’s stock valued at $3,822,177,000 after acquiring an additional 229,525 shares during the last quarter. Finally, Mutual Advisors LLC increased its holdings in shares of Novartis by 34.7% in the 3rd quarter. Mutual Advisors LLC now owns 11,446 shares of the company’s stock valued at $986,000 after acquiring an additional 2,950 shares during the last quarter. Institutional investors own 11.68% of the company’s stock.

NYSE:NVS traded down $1.25 during trading hours on Tuesday, hitting $79.71. 104,789 shares of the stock traded hands, compared to its average volume of 2,880,435. Novartis AG has a fifty-two week low of $72.30 and a fifty-two week high of $96.31. The company has a quick ratio of 0.97, a current ratio of 1.20 and a debt-to-equity ratio of 0.29. The company has a market cap of $187.02 billion, a P/E ratio of 15.65, a price-to-earnings-growth ratio of 2.06 and a beta of 0.68.

Novartis (NYSE:NVS) last posted its earnings results on Wednesday, January 30th. The company reported $1.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.33 by ($0.09). Novartis had a return on equity of 15.66% and a net margin of 24.30%. The business had revenue of $13.27 billion for the quarter, compared to analyst estimates of $13.33 billion. During the same period in the previous year, the company earned $1.21 earnings per share. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. Equities research analysts anticipate that Novartis AG will post 5.1 earnings per share for the current year.

A number of research firms recently issued reports on NVS. Zacks Investment Research upgraded Novartis from a “hold” rating to a “buy” rating and set a $96.00 price target on the stock in a research note on Tuesday, December 18th. Credit Suisse Group cut Novartis to a “sell” rating in a report on Thursday, December 20th. JPMorgan Chase & Co. downgraded Novartis from a “neutral” rating to an “underweight” rating in a research note on Wednesday, January 2nd. Finally, Morgan Stanley downgraded Novartis from an “equal weight” rating to an “underweight” rating and raised their price target for the stock from $82.50 to $82.52 in a research report on Wednesday, April 10th. Five research analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $89.25.

In related news, major shareholder Bioventures Ltd Novartis sold 28,794 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $0.99, for a total value of $28,506.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders sold 870,195 shares of company stock valued at $1,062,051. 0.01% of the stock is owned by corporate insiders.

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Novartis Company Profile

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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