Norris Perne & French LLP MI Cuts Holdings in Novartis AG (NYSE:NVS)

Norris Perne & French LLP MI lessened its stake in Novartis AG (NYSE:NVS) by 16.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,797 shares of the company’s stock after selling 566 shares during the period. Norris Perne & French LLP MI’s holdings in Novartis were worth $271,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NVS. Kathmere Capital Management LLC boosted its stake in shares of Novartis by 11.7% in the 1st quarter. Kathmere Capital Management LLC now owns 12,479 shares of the company’s stock valued at $1,207,000 after purchasing an additional 1,311 shares in the last quarter. Register Financial Advisors LLC purchased a new stake in shares of Novartis in the 1st quarter valued at $56,000. Cypress Wealth Services LLC purchased a new stake in shares of Novartis in the 1st quarter valued at $202,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Novartis by 5.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 111,453 shares of the company’s stock valued at $10,781,000 after purchasing an additional 5,491 shares in the last quarter. Finally, Procyon Advisors LLC boosted its stake in shares of Novartis by 5.8% in the 1st quarter. Procyon Advisors LLC now owns 18,373 shares of the company’s stock valued at $1,777,000 after purchasing an additional 1,013 shares in the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Trading Down 0.1 %

NYSE NVS traded down $0.09 during trading on Friday, hitting $106.46. The company had a trading volume of 1,516,862 shares, compared to its average volume of 1,321,776. The company has a current ratio of 0.90, a quick ratio of 0.71 and a debt-to-equity ratio of 0.43. Novartis AG has a one year low of $92.19 and a one year high of $108.78. The company has a market cap of $217.60 billion, a price-to-earnings ratio of 14.37, a price-to-earnings-growth ratio of 1.64 and a beta of 0.58. The company’s fifty day moving average is $102.22 and its 200-day moving average is $101.19.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.73 by $0.07. Novartis had a net margin of 31.33% and a return on equity of 32.15%. The business had revenue of $11.83 billion during the quarter, compared to analyst estimates of $11.50 billion. On average, sell-side analysts predict that Novartis AG will post 7.27 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NVS. Barclays upgraded shares of Novartis to a “strong sell” rating in a report on Monday, June 24th. BMO Capital Markets upped their price target on shares of Novartis from $114.00 to $116.00 and gave the company a “market perform” rating in a report on Wednesday, April 24th. Finally, The Goldman Sachs Group began coverage on shares of Novartis in a report on Thursday, May 30th. They set a “buy” rating and a $120.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Novartis currently has an average rating of “Hold” and an average target price of $116.67.

Novartis Company Profile

Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.