Managed Asset Portfolios LLC Sells 51,451 Shares of Novartis AG (NYSE:NVS)

Managed Asset Portfolios LLC reduced its stake in Novartis AG (NYSE:NVS) by 21.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 193,359 shares of the company’s stock after selling 51,451 shares during the quarter. Novartis comprises 3.1% of Managed Asset Portfolios LLC’s holdings, making the stock its 15th largest holding. Managed Asset Portfolios LLC’s holdings in Novartis were worth $22,240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its position in shares of Novartis by 28.8% during the first quarter. Russell Investments Group Ltd. now owns 4,492 shares of the company’s stock worth $435,000 after buying an additional 1,004 shares during the period. Advisors Asset Management Inc. boosted its position in Novartis by 10.8% during the first quarter. Advisors Asset Management Inc. now owns 24,919 shares of the company’s stock valued at $2,410,000 after acquiring an additional 2,431 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Novartis by 3.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 115,849 shares of the company’s stock worth $11,207,000 after acquiring an additional 3,696 shares during the period. Earnest Partners LLC raised its position in shares of Novartis by 2.6% in the 1st quarter. Earnest Partners LLC now owns 835,551 shares of the company’s stock worth $80,823,000 after acquiring an additional 21,535 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC lifted its stake in shares of Novartis by 4.8% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 10,994 shares of the company’s stock valued at $1,063,000 after purchasing an additional 500 shares during the period. 13.12% of the stock is currently owned by institutional investors.

Novartis Price Performance

Shares of NYSE NVS opened at $104.28 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.90 and a current ratio of 1.11. The firm’s 50-day simple moving average is $111.87 and its 200 day simple moving average is $110.12. The stock has a market cap of $213.15 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 1.49 and a beta of 0.58. Novartis AG has a fifty-two week low of $92.35 and a fifty-two week high of $120.92.

Novartis (NYSE:NVS) last announced its earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.12. The company had revenue of $12.82 billion for the quarter, compared to analysts’ expectations of $12.62 billion. Novartis had a return on equity of 34.80% and a net margin of 35.96%. During the same quarter in the previous year, the firm earned $1.74 earnings per share. As a group, research analysts anticipate that Novartis AG will post 7.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. BMO Capital Markets increased their price target on Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Jefferies Financial Group cut shares of Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. The Goldman Sachs Group reissued 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. Bank of America downgraded Novartis from a “buy” rating to a “neutral” rating and reduced their target price for the company from $135.00 to $130.00 in a research note on Wednesday, September 11th. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of Novartis in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $121.50.

Novartis Company 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.