Oarsman Capital Inc. Sells 285 Shares of Novartis AG $NVS

Oarsman Capital Inc. lowered its position in Novartis AG (NYSE:NVS) by 5.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 5,074 shares of the company’s stock after selling 285 shares during the period. Oarsman Capital Inc.’s holdings in Novartis were worth $614,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Sonora Investment Management Group LLC acquired a new position in Novartis in the 2nd quarter worth $266,000. Cypress Capital Group boosted its stake in shares of Novartis by 84.1% during the 2nd quarter. Cypress Capital Group now owns 5,776 shares of the company’s stock worth $699,000 after buying an additional 2,638 shares during the last quarter. Focus Partners Wealth boosted its stake in shares of Novartis by 16.8% during the 1st quarter. Focus Partners Wealth now owns 47,548 shares of the company’s stock worth $5,311,000 after buying an additional 6,849 shares during the last quarter. Marshall Financial Group LLC acquired a new position in shares of Novartis during the 2nd quarter worth about $1,909,000. Finally, DAVENPORT & Co LLC boosted its stake in shares of Novartis by 8.9% during the 2nd quarter. DAVENPORT & Co LLC now owns 33,683 shares of the company’s stock worth $4,076,000 after buying an additional 2,758 shares during the last quarter. Institutional investors own 13.12% of the company’s stock.

Novartis Stock Performance

NYSE NVS opened at $121.73 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.62 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $257.15 billion, a price-to-earnings ratio of 16.63, a P/E/G ratio of 1.73 and a beta of 0.64. The firm’s 50 day simple moving average is $127.52 and its 200 day simple moving average is $120.01. Novartis AG has a 1 year low of $96.06 and a 1 year high of $133.55.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.26 by ($0.01). The firm had revenue of $13.91 billion for the quarter, compared to analyst estimates of $13.70 billion. Novartis had a return on equity of 42.01% and a net margin of 26.49%.The business’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.06 EPS. As a group, research analysts expect that Novartis AG will post 8.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NVS. Weiss Ratings restated a “buy (b)” rating on shares of Novartis in a research note on Wednesday, October 8th. HC Wainwright downgraded shares of Novartis to a “neutral” rating in a research note on Monday. Cfra set a $126.00 price objective on shares of Novartis and gave the stock a “hold” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Novartis in a report on Thursday, August 21st. Finally, Morgan Stanley raised shares of Novartis from an “underweight” rating to an “equal weight” rating and set a $123.00 target price on the stock in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $122.33.

Novartis Company 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.