Arrowstreet Capital Limited Partnership cut its position in shares of Novartis AG (NYSE:NVS) by 44.5% during the 3rd quarter, HoldingsChannel.com reports.The firm owned 1,704,418 shares of the company’s stock after selling 1,363,892 shares during the period.Arrowstreet Capital Limited Partnership’s holdings in Novartis were worth $148,216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently made changes to their positions in the company.Rockbridge Investment Management LCC bought a new position in Novartis during the second quarter worth $25,000.Simon Quick Advisors LLC bought a new position in Novartis during the third quarter worth $26,000.Creative Financial Designs Inc.
ADV lifted its stake in Novartis by 262.0% during the second quarter.Creative Financial Designs Inc.
ADV now owns 333 shares of the company’s stock worth $29,000 after purchasing an additional 241 shares during the last quarter.TFC Financial Management bought a new position in Novartis during the third quarter worth $29,000.
Finally, Proffitt & Goodson Inc.bought a new position in Novartis during the second quarter worth $33,000.Hedge funds and other institutional investors own 10.37% of the company’s stock.Get Novartis alerts:
NVS has been the topic of a number of recent research reports.Berenberg Bank initiated coverage on Novartis in a research note on Tuesday, September 29th.They issued a “buy” rating on the stock.
Oddo Bhf cut Novartis from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 23rd.Morgan Stanley upgraded Novartis from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, September 1st.
JPMorgan Chase & Co.reiterated an “underweight” rating on shares of Novartis in a research note on Tuesday, November 10th.Finally, UBS Group upgraded Novartis from a “neutral” rating to a “buy” rating in a research note on Thursday, September 10th.
Three research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock.Novartis currently has an average rating of “Hold” and a consensus target price of $116.00.Shares of NVS traded up $0.98 during trading hours on Wednesday, reaching $89.28.
55,960 shares of the company’s stock traded hands, compared to its average volume of 2,108,811.
The firm has a market capitalization of $202.09 billion, a price-to-earnings ratio of 28.98, a P/E/G ratio of 1.79 and a beta of 0.49.The company has a debt-to-equity ratio of 0.49, a current ratio of 0.91 and a quick ratio of 0.69.Novartis AG has a twelve month low of $69.18 and a twelve month high of $99.84.The business’s fifty day simple moving average is $84.93 and its two-hundred day simple moving average is $86.12.
Novartis (NYSE:NVS) last issued its quarterly earnings results on Sunday, November 1st.The company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.07.
The company had revenue of $12.26 billion for the quarter, compared to analyst estimates of $12.58 billion.Novartis had a return on equity of 24.39% and a net margin of 14.71%.The company’s quarterly revenue was up .7% compared to the same quarter last year.During the same period last year, the company earned $1.41 earnings per share.On average, equities research analysts expect that Novartis AG will post 5.76 EPS for the current year.
Novartis Company Profile
Novartis AG researches, develops, manufactures, and markets healthcare products worldwide.
Its Innovative Medicines segment offers prescription medicines for patients and healthcare providers.
It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, established, and cardiovascular, renal and metabolism medicine products.
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