Connectus Wealth LLC Decreases Stake in Novartis AG (NYSE:NVS)

Connectus Wealth LLC lowered its position in Novartis AG (NYSE:NVSGet Rating) by 39.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 8,271 shares of the company’s stock after selling 5,360 shares during the quarter. Connectus Wealth LLC’s holdings in Novartis were worth $727,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. AHL Investment Management Inc. purchased a new stake in Novartis in the 4th quarter worth about $25,000. Dixon Hughes Goodman Wealth Advisors LLC purchased a new stake in Novartis in the 4th quarter worth about $32,000. Atwood & Palmer Inc. increased its holdings in Novartis by 400.0% in the 1st quarter. Atwood & Palmer Inc. now owns 375 shares of the company’s stock worth $33,000 after acquiring an additional 300 shares during the last quarter. DeDora Capital Inc. purchased a new position in Novartis during the 1st quarter valued at about $34,000. Finally, Allegheny Financial Group LTD purchased a new position in Novartis during the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 9.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NVS. Wolfe Research lowered Novartis from an “outperform” rating to a “market perform” rating in a report on Monday, May 9th. raised Novartis from a “hold” rating to a “buy” rating in a report on Thursday, April 14th. UBS Group lifted their target price on Novartis from CHF 85 to CHF 88 and gave the company a “neutral” rating in a report on Wednesday, April 27th. Oppenheimer lowered Novartis from an “outperform” rating to a “market perform” rating in a report on Friday, June 3rd. Finally, JPMorgan Chase & Co. lifted their target price on Novartis from CHF 80 to CHF 81 and gave the company an “underweight” rating in a report on Wednesday, July 20th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $87.33.

Novartis Stock Performance

NYSE:NVS opened at $85.57 on Friday. The business has a 50 day moving average of $85.04 and a 200 day moving average of $86.61. The company has a market capitalization of $189.33 billion, a price-to-earnings ratio of 8.36, a PEG ratio of 2.40 and a beta of 0.51. Novartis AG has a 1-year low of $79.09 and a 1-year high of $95.17. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.38 and a quick ratio of 1.13.

Novartis (NYSE:NVSGet Rating) last released its earnings results on Monday, July 18th. The company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.04. The company had revenue of $12.78 billion during the quarter, compared to the consensus estimate of $12.78 billion. Novartis had a return on equity of 21.88% and a net margin of 44.31%. Novartis’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.64 EPS. On average, sell-side analysts predict that Novartis AG will post 6.06 earnings per share for the current fiscal year.

Novartis Company Profile

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Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company operates through two segments, Innovative Medicines and Sandoz. The Innovative Medicines segment offers prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology, dermatology, respiratory, cardiovascular, renal, and metabolism medicine products.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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