Jane Street Group LLC Cuts Holdings in Novartis (NYSE:NVS)

Jane Street Group LLC lowered its holdings in Novartis (NYSE:NVS) by 1.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 179,380 shares of the company’s stock after selling 1,739 shares during the period. Jane Street Group LLC’s holdings in Novartis were worth $15,061,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of NVS. Wealthcare Advisory Partners LLC bought a new stake in shares of Novartis in the third quarter valued at approximately $106,000. Pinnacle Wealth Planning Services Inc. bought a new stake in shares of Novartis in the fourth quarter valued at approximately $113,000. Calton & Associates Inc. bought a new stake in shares of Novartis in the fourth quarter valued at approximately $118,000. SeaCrest Wealth Management LLC bought a new stake in shares of Novartis in the fourth quarter valued at approximately $124,000. Finally, Trustcore Financial Services LLC bought a new stake in shares of Novartis in the fourth quarter valued at approximately $178,000. 10.76% of the stock is currently owned by institutional investors.

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Shares of NYSE:NVS opened at $80.20 on Friday. The company has a market cap of $187,459.02, a P/E ratio of 16.67, a PEG ratio of 1.81 and a beta of 0.74. Novartis has a 12 month low of $72.67 and a 12 month high of $94.19. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.21 and a quick ratio of 0.91.

Novartis (NYSE:NVS) last released its quarterly earnings results on Wednesday, January 24th. The company reported $1.20 EPS for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.04. Novartis had a net margin of 15.69% and a return on equity of 16.03%. The business had revenue of $12.92 billion during the quarter, compared to analysts’ expectations of $12.65 billion. During the same quarter in the previous year, the company earned $1.14 EPS. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. equities research analysts anticipate that Novartis will post 5.33 earnings per share for the current year.

Several analysts have recently issued reports on NVS shares. Nord/LB reissued a “neutral” rating on shares of Novartis in a research report on Tuesday, January 2nd. JPMorgan Chase reaffirmed a “neutral” rating on shares of Novartis in a research note on Thursday, January 18th. UBS reaffirmed a “neutral” rating on shares of Novartis in a research note on Monday, January 15th. Finally, Zacks Investment Research cut shares of Novartis from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. Novartis currently has an average rating of “Hold” and an average price target of $87.51.

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About Novartis

Novartis AG researches, develops, manufactures, and markets a range of healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines to enhance health outcomes for patients and health-care providers. This segment also commercializes products in the areas of oncology and rare diseases, ophthalmology, immunology and dermatology, neuroscience, respiratory, cardio-metabolic, and established medicines.

Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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