New England Research & Management Inc. decreased its stake in Novartis AG (NYSE:NVS) by 56.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,455 shares of the company’s stock after selling 4,495 shares during the period. New England Research & Management Inc.’s holdings in Novartis were worth $290,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Cetera Investment Advisers acquired a new position in shares of Novartis in the 2nd quarter valued at $241,000. Bartlett & Co. LLC boosted its holdings in shares of Novartis by 1.6% in the 3rd quarter. Bartlett & Co. LLC now owns 473,081 shares of the company’s stock valued at $40,614,000 after buying an additional 7,249 shares in the last quarter. Capital Bank & Trust Co boosted its holdings in shares of Novartis by 5.5% in the 3rd quarter. Capital Bank & Trust Co now owns 138,207 shares of the company’s stock valued at $11,865,000 after buying an additional 7,201 shares in the last quarter. Cedar Hill Associates LLC acquired a new position in shares of Novartis in the 3rd quarter valued at $248,000. Finally, Steward Partners Investment Advisory LLC acquired a new position in shares of Novartis in the 3rd quarter valued at $1,245,000. Institutional investors and hedge funds own 10.85% of the company’s stock.
Several research analysts have recently issued reports on NVS shares. Bank of America cut shares of Novartis from a “neutral” rating to an “underperform” rating in a report on Wednesday, December 6th. Zacks Investment Research upgraded shares of Novartis from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Leerink Swann upped their price target on shares of Novartis from $89.00 to $91.00 and gave the company a “market perform” rating in a research report on Monday, October 23rd. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Novartis in a research report on Tuesday, October 31st. Finally, Barclays downgraded shares of Novartis from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, October 25th. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $85.32.
Novartis (NYSE:NVS) last released its quarterly earnings results on Tuesday, October 24th. The company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.25 by $0.04. Novartis had a net margin of 13.73% and a return on equity of 15.77%. The firm had revenue of $12.41 billion during the quarter, compared to the consensus estimate of $12.21 billion. During the same quarter in the prior year, the firm earned $1.23 EPS. Novartis’s revenue for the quarter was up 2.4% on a year-over-year basis. equities analysts forecast that Novartis AG will post 4.77 earnings per share for the current year.
Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.
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