Douglass Winthrop Advisors LLC Has $1.93 Million Holdings in Novartis AG (NVS)

Douglass Winthrop Advisors LLC cut its position in shares of Novartis AG (NYSE:NVS) by 33.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,395 shares of the company’s stock after selling 11,250 shares during the quarter. Douglass Winthrop Advisors LLC’s holdings in Novartis were worth $1,930,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Commerzbank Aktiengesellschaft FI increased its holdings in shares of Novartis by 13.7% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 48,425 shares of the company’s stock valued at $3,658,000 after purchasing an additional 5,823 shares during the period. Fosun International Ltd acquired a new position in shares of Novartis in the 2nd quarter valued at about $468,000. Neuburgh Advisers LLC increased its holdings in shares of Novartis by 13.0% in the 2nd quarter. Neuburgh Advisers LLC now owns 22,984 shares of the company’s stock valued at $1,736,000 after purchasing an additional 2,652 shares during the period. Cox Capital Co LLC acquired a new position in shares of Novartis in the 2nd quarter valued at about $1,399,000. Finally, Carillon Tower Advisers Inc. increased its holdings in shares of Novartis by 16.9% in the 2nd quarter. Carillon Tower Advisers Inc. now owns 163,661 shares of the company’s stock valued at $12,363,000 after purchasing an additional 23,605 shares during the period. 10.94% of the stock is owned by institutional investors.

In related news, major shareholder Bioventures Ltd Novartis sold 12,460 shares of the stock in a transaction that occurred on Wednesday, July 25th. The stock was sold at an average price of $3.84, for a total value of $47,846.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders sold 81,322 shares of company stock worth $290,796 in the last 90 days. 0.01% of the stock is currently owned by corporate insiders.

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Novartis in a report on Thursday. Goldman Sachs Group reiterated a “neutral” rating on shares of Novartis in a report on Wednesday. Guggenheim assumed coverage on Novartis in a report on Monday, October 8th. They issued a “neutral” rating on the stock. Zacks Investment Research upgraded Novartis from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a report on Tuesday, September 18th. Finally, BNP Paribas upgraded Novartis from an “underperform” rating to a “neutral” rating in a report on Tuesday, September 11th. Thirteen analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $86.90.

NYSE:NVS opened at $82.78 on Friday. Novartis AG has a 52 week low of $72.30 and a 52 week high of $94.19. The company has a market capitalization of $199.67 billion, a P/E ratio of 17.21, a PEG ratio of 1.80 and a beta of 0.83. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.89 and a current ratio of 1.15.

Novartis (NYSE:NVS) last released its quarterly earnings data on Wednesday, July 18th. The company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.02. Novartis had a return on equity of 16.05% and a net margin of 27.06%. The firm had revenue of $13.16 billion for the quarter, compared to the consensus estimate of $12.93 billion. During the same quarter in the prior year, the company posted $1.22 earnings per share. The firm’s revenue was up 7.5% on a year-over-year basis. On average, sell-side analysts anticipate that Novartis AG will post 5.17 EPS for the current year.

Novartis Profile

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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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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