Novartis AG (NYSE:NVS) Position Cut by Claro Advisors LLC

Claro Advisors LLC cut its stake in Novartis AG (NYSE:NVS) by 14.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,954 shares of the company’s stock after selling 684 shares during the period. Claro Advisors LLC’s holdings in Novartis were worth $385,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Fisher Asset Management LLC raised its position in shares of Novartis by 15.7% in the third quarter. Fisher Asset Management LLC now owns 1,706,009 shares of the company’s stock valued at $196,225,000 after purchasing an additional 231,851 shares during the period. FMR LLC boosted its stake in Novartis by 5.5% during the third quarter. FMR LLC now owns 1,353,412 shares of the company’s stock worth $155,669,000 after buying an additional 70,314 shares in the last quarter. Natixis Advisors LLC raised its position in Novartis by 2.9% in the third quarter. Natixis Advisors LLC now owns 938,844 shares of the company’s stock worth $107,986,000 after purchasing an additional 26,317 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Novartis by 18.7% in the 3rd quarter. Bank of Montreal Can now owns 780,980 shares of the company’s stock worth $90,289,000 after buying an additional 123,077 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in shares of Novartis during the second quarter valued at $64,610,000. 13.12% of the stock is owned by institutional investors and hedge funds.

Novartis Stock Performance

Shares of NVS stock opened at $99.34 on Wednesday. Novartis AG has a 52 week low of $92.35 and a 52 week high of $120.92. 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 $101.13 and its two-hundred day simple moving average is $109.19. The firm has a market cap of $203.05 billion, a price-to-earnings ratio of 11.54, a P/E/G ratio of 1.49 and a beta of 0.57.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. The company had revenue of $12.82 billion for the quarter, compared to the consensus estimate of $12.62 billion. Novartis had a return on equity of 34.80% and a net margin of 35.96%. During the same quarter last year, the business posted $1.74 earnings per share. As a group, equities analysts forecast that Novartis AG will post 7.65 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. HSBC cut Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday, December 4th. Erste Group Bank reaffirmed a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. Finally, BMO Capital Markets increased their price target on shares of Novartis from $118.00 to $120.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Two analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $121.50.

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.