Tealwood Asset Management Inc. Has $2.85 Million Holdings in Novartis AG $NVS

Tealwood Asset Management Inc. reduced its stake in Novartis AG (NYSE:NVS) by 3.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,581 shares of the company’s stock after selling 731 shares during the period. Novartis comprises approximately 1.3% of Tealwood Asset Management Inc.’s investment portfolio, making the stock its 12th largest position. Tealwood Asset Management Inc.’s holdings in Novartis were worth $2,854,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. HB Wealth Management LLC boosted its stake in shares of Novartis by 18.3% in the 2nd quarter. HB Wealth Management LLC now owns 13,357 shares of the company’s stock valued at $1,616,000 after purchasing an additional 2,064 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in Novartis by 38.5% in the second quarter. Janney Montgomery Scott LLC now owns 310,389 shares of the company’s stock valued at $37,560,000 after buying an additional 86,351 shares in the last quarter. V Square Quantitative Management LLC boosted its position in Novartis by 1.5% in the second quarter. V Square Quantitative Management LLC now owns 11,837 shares of the company’s stock valued at $1,432,000 after buying an additional 180 shares in the last quarter. Norris Perne & French LLP MI boosted its position in Novartis by 4.1% in the second quarter. Norris Perne & French LLP MI now owns 2,531 shares of the company’s stock valued at $306,000 after buying an additional 99 shares in the last quarter. Finally, First County Bank CT acquired a new stake in shares of Novartis during the 2nd quarter valued at $208,000. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NVS has been the topic of several recent research reports. Morgan Stanley raised Novartis from an “underweight” rating to an “equal weight” rating and set a $123.00 price objective on the stock in a report on Friday, August 8th. The Goldman Sachs Group reissued a “sell” rating and set a $118.00 price target (down from $119.00) on shares of Novartis in a research note on Friday, September 12th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Novartis in a research note on Thursday, August 21st. Finally, Wall Street Zen downgraded shares of Novartis from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $120.33.

Novartis Stock Up 0.4%

Shares of NYSE:NVS opened at $124.10 on Tuesday. Novartis AG has a 1 year low of $96.06 and a 1 year high of $130.46. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.82 and a quick ratio of 0.62. The business’s 50-day moving average is $122.51 and its 200-day moving average is $116.73. The company has a market capitalization of $262.15 billion, a price-to-earnings ratio of 18.06, a P/E/G ratio of 1.73 and a beta of 0.63.

Novartis (NYSE:NVS) last issued its quarterly earnings results on Thursday, July 17th. The company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.04. Novartis had a return on equity of 41.08% and a net margin of 25.64%.The firm had revenue of $14.05 billion for the quarter, compared to analyst estimates of $13.94 billion. During the same period in the previous year, the firm earned $1.97 earnings per share. The company’s revenue was up 12.3% compared to the same quarter last year. Equities research analysts predict that Novartis AG will post 8.45 earnings per share for the current year.

About Novartis

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.