Fairfield Bush & CO. reduced its stake in Novartis AG (NYSE:NVS) by 2.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 65,732 shares of the company’s stock after selling 1,688 shares during the quarter. Novartis makes up 2.3% of Fairfield Bush & CO.’s investment portfolio, making the stock its 10th largest holding. Fairfield Bush & CO.’s holdings in Novartis were worth $5,420,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NVS. Kayne Anderson Rudnick Investment Management LLC grew its stake in Novartis by 0.5% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 22,264 shares of the company’s stock valued at $2,108,000 after purchasing an additional 104 shares during the period. Occidental Asset Management LLC grew its stake in shares of Novartis by 3.3% during the 1st quarter. Occidental Asset Management LLC now owns 3,696 shares of the company’s stock worth $305,000 after acquiring an additional 118 shares during the period. First City Capital Management Inc. lifted its holdings in Novartis by 2.2% during the 4th quarter. First City Capital Management Inc. now owns 5,461 shares of the company’s stock worth $517,000 after purchasing an additional 119 shares in the last quarter. Community Bank & Trust Waco Texas lifted its holdings in Novartis by 3.3% during the 4th quarter. Community Bank & Trust Waco Texas now owns 3,908 shares of the company’s stock worth $370,000 after purchasing an additional 126 shares in the last quarter. Finally, Sowell Financial Services LLC lifted its holdings in Novartis by 3.0% during the 4th quarter. Sowell Financial Services LLC now owns 4,438 shares of the company’s stock worth $420,000 after purchasing an additional 129 shares in the last quarter. 10.79% of the stock is owned by institutional investors and hedge funds.

NVS has been the topic of a number of recent research reports. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Novartis in a report on Wednesday, April 29th. Citigroup cut Novartis from a “buy” rating to a “neutral” rating in a report on Monday, February 17th. Guggenheim cut Novartis from a “buy” rating to a “neutral” rating in a report on Tuesday, February 25th. Goldman Sachs Group reaffirmed a “buy” rating and issued a $116.00 price target on shares of Novartis in a report on Friday, April 3rd. Finally, Barclays reaffirmed an “underweight” rating on shares of Novartis in a report on Wednesday, April 29th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $105.25.

NVS traded down $0.76 on Wednesday, hitting $85.70. 1,637,980 shares of the company were exchanged, compared to its average volume of 1,673,903. The firm has a fifty day simple moving average of $86.07 and a two-hundred day simple moving average of $89.15. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.53 and a current ratio of 0.74. Novartis AG has a 12 month low of $69.18 and a 12 month high of $99.84. The stock has a market capitalization of $196.36 billion, a PE ratio of 16.33, a price-to-earnings-growth ratio of 1.91 and a beta of 0.51.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.19. The business had revenue of $12.28 billion for the quarter, compared to analyst estimates of $11.92 billion. Novartis had a return on equity of 24.39% and a net margin of 24.97%. Novartis’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period last year, the company earned $1.21 EPS. On average, equities analysts expect that Novartis AG will post 5.64 earnings per share for the current year.

About Novartis

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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