Rathbones Group PLC Has $6.18 Million Position in Novartis AG (NYSE:NVS)

Rathbones Group PLC lessened its holdings in Novartis AG (NYSE:NVS) by 2.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,060 shares of the company’s stock after selling 1,614 shares during the period. Rathbones Group PLC’s holdings in Novartis were worth $6,181,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Raymond James & Associates grew its stake in Novartis by 1.3% during the 2nd quarter. Raymond James & Associates now owns 536,607 shares of the company’s stock valued at $57,127,000 after acquiring an additional 6,767 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in Novartis in the 2nd quarter valued at approximately $15,044,000. O Shaughnessy Asset Management LLC boosted its stake in shares of Novartis by 6.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 180,764 shares of the company’s stock valued at $17,485,000 after buying an additional 11,080 shares during the period. TD Asset Management Inc grew its holdings in shares of Novartis by 314.8% during the 4th quarter. TD Asset Management Inc now owns 55,096 shares of the company’s stock valued at $5,563,000 after acquiring an additional 41,815 shares in the last quarter. Finally, FORA Capital LLC acquired a new position in shares of Novartis in the first quarter worth $2,968,000. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NVS. Bank of America cut Novartis from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $135.00 to $130.00 in a research report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Novartis in a research note on Friday, July 19th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $121.00 price objective (up previously from $119.00) on shares of Novartis in a research report on Thursday, September 5th. Barclays raised shares of Novartis to a “strong sell” rating in a research report on Monday, June 24th. Finally, Jefferies Financial Group downgraded shares of Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Novartis presently has a consensus rating of “Hold” and a consensus target price of $120.70.

Novartis Trading Down 0.1 %

NYSE:NVS opened at $115.66 on Monday. The company’s 50 day moving average is $113.58 and its 200-day moving average is $105.00. The company has a quick ratio of 0.72, a current ratio of 0.93 and a debt-to-equity ratio of 0.47. Novartis AG has a 12 month low of $92.19 and a 12 month high of $120.92. The firm has a market cap of $236.41 billion, a price-to-earnings ratio of 15.61, a P/E/G ratio of 1.73 and a beta of 0.57.

Novartis (NYSE:NVS) last announced its earnings results on Thursday, July 18th. The company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.87 by $0.10. Novartis had a net margin of 33.76% and a return on equity of 34.56%. The firm had revenue of $12.87 billion for the quarter, compared to the consensus estimate of $12.24 billion. During the same quarter last year, the firm posted $1.83 EPS. Equities analysts anticipate that Novartis AG will post 7.5 EPS for the current year.

Novartis 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.