Novartis AG (NVS) Shares Sold by Analyst IMS Investment Management Services Ltd.
Analyst IMS Investment Management Services Ltd. reduced its holdings in shares of Novartis AG (NYSE:NVS) by 2.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 78,881 shares of the company’s stock after selling 1,701 shares during the quarter. Novartis makes up about 2.0% of Analyst IMS Investment Management Services Ltd.’s portfolio, making the stock its 12th biggest holding. Analyst IMS Investment Management Services Ltd.’s holdings in Novartis were worth $6,623,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Roundview Capital LLC boosted its stake in Novartis by 14.1% in the 4th quarter. Roundview Capital LLC now owns 8,255 shares of the company’s stock valued at $693,000 after purchasing an additional 1,020 shares during the period. Buckley Wealth Management LLC bought a new stake in Novartis in the 4th quarter valued at $363,000. Gratus Capital LLC boosted its stake in Novartis by 12.3% in the 4th quarter. Gratus Capital LLC now owns 111,836 shares of the company’s stock valued at $9,390,000 after purchasing an additional 12,267 shares during the period. Carmichael Hill & Associates Inc. bought a new stake in Novartis in the 4th quarter valued at $410,000. Finally, Tradition Capital Management LLC boosted its stake in Novartis by 0.9% in the 4th quarter. Tradition Capital Management LLC now owns 69,381 shares of the company’s stock valued at $5,825,000 after purchasing an additional 652 shares during the period. Institutional investors own 11.06% of the company’s stock.
Several analysts recently issued reports on the company. JPMorgan Chase & Co. restated a “neutral” rating on shares of Novartis in a research note on Thursday, January 18th. Barclays downgraded Novartis from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, October 25th. UBS Group restated a “neutral” rating on shares of Novartis in a research note on Monday, January 15th. Zacks Investment Research downgraded Novartis from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Finally, Bank of America downgraded Novartis from a “neutral” rating to an “underperform” rating in a research note on Wednesday, December 6th. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $85.32.
Novartis (NYSE:NVS) last announced its quarterly earnings data on Wednesday, January 24th. The company reported $1.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.04. The firm had revenue of $12.92 billion during the quarter, compared to analysts’ expectations of $12.65 billion. Novartis had a return on equity of 16.03% and a net margin of 15.69%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.14 EPS. equities research analysts anticipate that Novartis AG will post 5.36 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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