Gratus Capital LLC decreased its stake in Novartis AG (NYSE:NVS) by 13.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 97,304 shares of the company’s stock after selling 14,532 shares during the period. Novartis accounts for 1.1% of Gratus Capital LLC’s portfolio, making the stock its 16th largest position. Gratus Capital LLC’s holdings in Novartis were worth $7,867,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Matthew Goff Investment Advisor LLC lifted its holdings in shares of Novartis by 5.9% in the 1st quarter. Matthew Goff Investment Advisor LLC now owns 29,115 shares of the company’s stock worth $2,354,000 after purchasing an additional 1,619 shares during the last quarter. Advisors Capital Management LLC lifted its holdings in shares of Novartis by 8.1% in the 1st quarter. Advisors Capital Management LLC now owns 141,038 shares of the company’s stock worth $11,403,000 after purchasing an additional 10,575 shares during the last quarter. BBR Partners LLC bought a new stake in shares of Novartis in the 1st quarter worth approximately $370,000. Elmwood Wealth Management Inc. bought a new stake in shares of Novartis in the 1st quarter worth approximately $512,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Novartis by 11.8% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 33,262 shares of the company’s stock worth $2,689,000 after purchasing an additional 3,512 shares during the last quarter. 10.97% of the stock is currently owned by institutional investors and hedge funds.
In other Novartis news, major shareholder Institutes For Biomed Novartis bought 766,666 shares of the stock in a transaction that occurred on Monday, April 23rd. The shares were purchased at an average cost of $15.00 per share, for a total transaction of $11,499,990.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 0.01% of the stock is owned by company insiders.
NVS opened at $76.84 on Wednesday. Novartis AG has a 12 month low of $75.73 and a 12 month high of $94.19. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.17. The company has a market capitalization of $177.96 billion, a P/E ratio of 15.98, a price-to-earnings-growth ratio of 1.73 and a beta of 0.76.
Novartis (NYSE:NVS) last posted its earnings results on Thursday, April 19th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.25 by $0.03. Novartis had a return on equity of 16.23% and a net margin of 16.04%. The firm had revenue of $12.69 billion for the quarter, compared to analysts’ expectations of $12.45 billion. During the same period last year, the firm earned $1.13 EPS. The firm’s revenue was up 10.0% compared to the same quarter last year. research analysts expect that Novartis AG will post 5.26 earnings per share for the current fiscal year.
Several analysts recently issued reports on NVS shares. Deutsche Bank reissued a “neutral” rating on shares of Novartis in a report on Tuesday, April 10th. JPMorgan Chase reissued a “neutral” rating on shares of Novartis in a report on Monday, April 9th. Finally, ValuEngine downgraded Novartis from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $89.81.
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.
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