Raymond James Financial Services Advisors Inc. reduced its stake in Novartis AG (NYSE:NVS) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 115,405 shares of the company’s stock after selling 1,541 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Novartis were worth $9,690,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Wealthcare Advisory Partners LLC purchased a new stake in shares of Novartis in the third quarter valued at $106,000. Cable Hill Partners LLC lifted its position in shares of Novartis by 588.8% in the third quarter. Cable Hill Partners LLC now owns 1,295 shares of the company’s stock valued at $112,000 after acquiring an additional 1,107 shares in the last quarter. Calton & Associates Inc. purchased a new stake in shares of Novartis in the fourth quarter valued at $118,000. SeaCrest Wealth Management LLC purchased a new stake in shares of Novartis in the fourth quarter valued at $124,000. Finally, Sawyer & Company Inc purchased a new position in Novartis during the fourth quarter worth about $183,000. Institutional investors and hedge funds own 10.96% of the company’s stock.
Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Novartis in a research report on Thursday, January 18th. Barclays downgraded Novartis from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, October 25th. UBS Group reiterated a “neutral” rating on shares of Novartis in a research report on Monday, January 15th. Zacks Investment Research downgraded Novartis from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Finally, Bank of America downgraded Novartis from a “neutral” rating to an “underperform” rating in a research report on Wednesday, December 6th. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $85.32.
Novartis AG (NYSE:NVS) opened at $84.89 on Thursday. The firm has a market capitalization of $197,841.23, a PE ratio of 17.67, a P/E/G ratio of 1.98 and a beta of 0.73. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.91 and a current ratio of 1.21. Novartis AG has a 12-month low of $72.67 and a 12-month high of $94.19.
Novartis (NYSE:NVS) last announced its quarterly earnings results on Wednesday, January 24th. The company reported $1.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.04. The company had revenue of $12.92 billion during the quarter, compared to analyst estimates of $12.65 billion. Novartis had a return on equity of 16.03% and a net margin of 15.69%. The firm’s revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.14 earnings per share. analysts predict that Novartis AG will post 5.36 EPS for the current fiscal year.
TRADEMARK VIOLATION WARNING: This report was posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this report on another domain, it was illegally stolen and reposted in violation of United States and international copyright & trademark law. The legal version of this report can be viewed at https://www.dispatchtribunal.com/2018/02/22/raymond-james-financial-services-advisors-inc-sells-1541-shares-of-novartis-ag-nvs.html.
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.
Receive News & Ratings for Novartis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novartis and related companies with MarketBeat.com's FREE daily email newsletter.