Novartis AG $NVS Shares Sold by Cullen Capital Management LLC

Cullen Capital Management LLC decreased its stake in Novartis AG (NYSE:NVS) by 0.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,096,852 shares of the company’s stock after selling 11,832 shares during the quarter. Novartis makes up 2.9% of Cullen Capital Management LLC’s holdings, making the stock its 4th largest position. Cullen Capital Management LLC’s holdings in Novartis were worth $253,740,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Glenview Trust co grew its stake in shares of Novartis by 2.3% during the 2nd quarter. Glenview Trust co now owns 3,800 shares of the company’s stock worth $460,000 after purchasing an additional 84 shares during the period. Essex Savings Bank boosted its holdings in Novartis by 1.9% during the second quarter. Essex Savings Bank now owns 4,611 shares of the company’s stock worth $558,000 after buying an additional 85 shares in the last quarter. Physician Wealth Advisors Inc. grew its position in Novartis by 5.8% during the second quarter. Physician Wealth Advisors Inc. now owns 1,541 shares of the company’s stock valued at $186,000 after buying an additional 85 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. increased its holdings in Novartis by 4.4% in the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 2,062 shares of the company’s stock valued at $250,000 after buying an additional 87 shares in the last quarter. Finally, Forum Financial Management LP increased its holdings in Novartis by 0.4% in the second quarter. Forum Financial Management LP now owns 24,607 shares of the company’s stock valued at $2,978,000 after buying an additional 88 shares in the last quarter. 13.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NVS. HC Wainwright lowered shares of Novartis to a “neutral” rating in a research note on Monday, October 27th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Novartis in a report on Monday, October 27th. HSBC reissued a “reduce” rating and issued a $112.00 price objective on shares of Novartis in a report on Wednesday. Bank of America raised Novartis from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 25th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Novartis in a research report on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $119.75.

Novartis Price Performance

NYSE:NVS opened at $132.50 on Monday. The stock has a 50 day moving average of $129.41 and a two-hundred day moving average of $124.15. Novartis AG has a 12 month low of $96.06 and a 12 month high of $134.24. The firm has a market cap of $279.90 billion, a P/E ratio of 18.10, a price-to-earnings-growth ratio of 1.87 and a beta of 0.52. The company has a current ratio of 0.88, a quick ratio of 0.68 and a debt-to-equity ratio of 0.50.

Novartis (NYSE:NVS) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $2.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.01). Novartis had a return on equity of 41.21% and a net margin of 26.49%.The firm had revenue of $14.36 billion during the quarter, compared to analyst estimates of $13.70 billion. During the same period in the prior year, the firm earned $2.06 earnings per share. The business’s revenue was up 8.5% on a year-over-year basis. On average, analysts expect that Novartis AG will post 8.45 earnings per share for the current fiscal year.

Novartis 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.