Saturna Capital CORP Lowers Holdings in Novartis AG (NVS)
Saturna Capital CORP lowered its holdings in shares of Novartis AG (NYSE:NVS) by 0.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 678,928 shares of the company’s stock after selling 6,075 shares during the quarter. Novartis accounts for about 1.9% of Saturna Capital CORP’s portfolio, making the stock its 11th largest position. Saturna Capital CORP’s holdings in Novartis were worth $58,286,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. WFG Advisors LP lifted its position in Novartis by 38.1% during the second quarter. WFG Advisors LP now owns 1,221 shares of the company’s stock valued at $102,000 after purchasing an additional 337 shares during the last quarter. Cable Hill Partners LLC lifted its holdings in shares of Novartis by 588.8% in the 3rd quarter. Cable Hill Partners LLC now owns 1,295 shares of the company’s stock worth $112,000 after acquiring an additional 1,107 shares during the last quarter. Harding Loevner LP bought a new stake in shares of Novartis in the 2nd quarter worth about $146,000. Mosaic Family Wealth LLC lifted its holdings in shares of Novartis by 6.1% in the 2nd quarter. Mosaic Family Wealth LLC now owns 2,144 shares of the company’s stock worth $179,000 after acquiring an additional 123 shares during the last quarter. Finally, Barrett Asset Management LLC lifted its holdings in shares of Novartis by 650.0% in the 2nd quarter. Barrett Asset Management LLC now owns 2,250 shares of the company’s stock worth $188,000 after acquiring an additional 1,950 shares during the last quarter. Institutional investors and hedge funds own 10.87% of the company’s stock.
Several equities research analysts have recently issued reports on the stock. Bank of America lowered shares of Novartis from a “neutral” rating to an “underperform” rating in a report on Wednesday. J P Morgan Chase & Co restated a “neutral” rating on shares of Novartis in a report on Tuesday, October 24th. BidaskClub lowered shares of Novartis from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Cowen set a $90.00 target price on shares of Novartis and gave the stock a “hold” rating in a report on Wednesday, August 9th. Finally, Leerink Swann raised their target price on shares of Novartis from $89.00 to $91.00 and gave the stock a “market perform” rating in a report on Monday, October 23rd. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. Novartis has an average rating of “Hold” and an average price target of $85.32.
Novartis AG (NYSE:NVS) traded down $0.76 during mid-day trading on Wednesday, reaching $83.08. 634,960 shares of the company traded hands, compared to its average volume of 2,280,229. The stock has a market cap of $200,791.69, a P/E ratio of 17.87, a PEG ratio of 2.71 and a beta of 0.73. Novartis AG has a 52 week low of $66.93 and a 52 week high of $86.90. The company has a quick ratio of 0.81, a current ratio of 1.08 and a debt-to-equity ratio of 0.32.
Novartis (NYSE:NVS) last posted its quarterly earnings results on Tuesday, October 24th. The company reported $1.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.04. The company had revenue of $12.41 billion for the quarter, compared to the consensus estimate of $12.21 billion. Novartis had a net margin of 13.73% and a return on equity of 15.77%. The firm’s revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.23 EPS. analysts predict that Novartis AG will post 4.75 earnings per share for the current fiscal year.
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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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