Novartis AG (NYSE:NVS) Holdings Lowered by Hexagon Capital Partners LLC

Hexagon Capital Partners LLC decreased its stake in Novartis AG (NYSE:NVS) by 6.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,613 shares of the company’s stock after selling 241 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Novartis were worth $349,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of NVS. Rhumbline Advisers raised its holdings in shares of Novartis by 16.7% during the third quarter. Rhumbline Advisers now owns 34,183 shares of the company’s stock valued at $3,482,000 after acquiring an additional 4,897 shares during the period. Nomura Holdings Inc. acquired a new position in Novartis during the third quarter valued at $509,000. Ancora Advisors LLC lifted its stake in Novartis by 3.6% in the 3rd quarter. Ancora Advisors LLC now owns 3,388 shares of the company’s stock worth $345,000 after acquiring an additional 117 shares in the last quarter. Rehmann Capital Advisory Group boosted its position in Novartis by 92.4% during the 3rd quarter. Rehmann Capital Advisory Group now owns 5,888 shares of the company’s stock worth $600,000 after acquiring an additional 2,828 shares during the period. Finally, Waverly Advisors LLC purchased a new position in Novartis during the 3rd quarter valued at about $261,000. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Wall Street Analyst Weigh In

NVS has been the subject of several research reports. The Goldman Sachs Group assumed coverage on shares of Novartis in a report on Thursday, May 30th. They set a “buy” rating and a $120.00 price target for the company. Barclays upgraded shares of Novartis to a “strong sell” rating in a report on Monday, June 24th. Finally, BMO Capital Markets increased their price objective on Novartis from $114.00 to $116.00 and gave the stock a “market perform” rating in a report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $116.67.

Novartis Price Performance

NYSE NVS opened at $106.54 on Tuesday. The company has a quick ratio of 0.71, a current ratio of 0.90 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $217.77 billion, a PE ratio of 14.38, a price-to-earnings-growth ratio of 1.64 and a beta of 0.57. Novartis AG has a 12-month low of $92.19 and a 12-month high of $108.78. The company has a 50 day moving average price of $102.22 and a two-hundred day moving average price of $101.22.

Novartis (NYSE:NVS) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.07. The business had revenue of $11.83 billion for the quarter, compared to the consensus estimate of $11.50 billion. Novartis had a net margin of 31.33% and a return on equity of 32.15%. As a group, equities analysts predict that Novartis AG will post 7.27 earnings per share for the current fiscal year.

About Novartis

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.