Noesis Capital Mangement Corp Lowers Holdings in Novartis AG (NYSE:NVS)

Noesis Capital Mangement Corp trimmed its holdings in Novartis AG (NYSE:NVS) by 13.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,650 shares of the company’s stock after selling 400 shares during the period. Noesis Capital Mangement Corp’s holdings in Novartis were worth $242,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Winslow Evans & Crocker Inc. lifted its position in shares of Novartis by 11.8% in the second quarter. Winslow Evans & Crocker Inc. now owns 1,084 shares of the company’s stock worth $102,000 after buying an additional 114 shares in the last quarter. Old Port Advisors lifted its position in shares of Novartis by 4.5% in the second quarter. Old Port Advisors now owns 2,722 shares of the company’s stock worth $252,000 after buying an additional 116 shares in the last quarter. Stratos Wealth Partners LTD. lifted its position in shares of Novartis by 1.2% in the first quarter. Stratos Wealth Partners LTD. now owns 10,631 shares of the company’s stock worth $1,022,000 after buying an additional 125 shares in the last quarter. Legacy Bridge LLC lifted its position in shares of Novartis by 7.5% in the first quarter. Legacy Bridge LLC now owns 1,844 shares of the company’s stock worth $177,000 after buying an additional 128 shares in the last quarter. Finally, Archford Capital Strategies LLC lifted its position in shares of Novartis by 5.7% in the first quarter. Archford Capital Strategies LLC now owns 2,447 shares of the company’s stock worth $235,000 after buying an additional 131 shares in the last quarter. Institutional investors and hedge funds own 11.23% of the company’s stock.

NVS has been the topic of several analyst reports. Zacks Investment Research cut Novartis from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a research note on Friday, July 19th. Argus boosted their price objective on Novartis to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. They noted that the move was a valuation call. Liberum Capital raised Novartis from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. reissued a “sell” rating on shares of Novartis in a research note on Friday, July 5th. Finally, Guggenheim raised Novartis from a “neutral” rating to a “buy” rating and set a $79.16 price objective on the stock in a research note on Wednesday, April 24th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Novartis currently has an average rating of “Hold” and a consensus target price of $90.63.

NYSE NVS traded down $0.98 during trading hours on Thursday, hitting $89.14. 912,270 shares of the company were exchanged, compared to its average volume of 2,039,869. The stock has a 50-day moving average price of $91.05 and a 200 day moving average price of $88.62. The company has a quick ratio of 0.74, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. Novartis AG has a 52 week low of $71.40 and a 52 week high of $95.00. The stock has a market cap of $205.29 billion, a PE ratio of 17.51, a price-to-earnings-growth ratio of 2.00 and a beta of 0.58.

Novartis (NYSE:NVS) last released its earnings results on Thursday, July 18th. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.14. The firm had revenue of $11.76 billion for the quarter, compared to analysts’ expectations of $11.45 billion. Novartis had a return on equity of 18.55% and a net margin of 23.27%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.29 earnings per share. As a group, sell-side analysts anticipate that Novartis AG will post 5.15 earnings per share for the current year.

About Novartis

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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