Evergreen Capital Management LLC Has $1.54 Million Holdings in Novartis AG (NYSE:NVS)

Evergreen Capital Management LLC lessened its stake in shares of Novartis AG (NYSE:NVS) by 1.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,424 shares of the company’s stock after selling 268 shares during the quarter. Evergreen Capital Management LLC’s holdings in Novartis were worth $1,536,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Private Ocean LLC acquired a new stake in shares of Novartis in the 1st quarter valued at $25,000. Richardson Financial Services Inc. acquired a new position in Novartis in the fourth quarter valued at about $26,000. Clearstead Trust LLC grew its stake in Novartis by 73.5% during the first quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock worth $26,000 after buying an additional 114 shares during the last quarter. New Millennium Group LLC acquired a new stake in shares of Novartis during the second quarter worth approximately $28,000. Finally, Lynx Investment Advisory bought a new position in shares of Novartis in the second quarter valued at approximately $29,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Novartis Price Performance

Shares of NVS stock opened at $116.43 on Wednesday. The firm’s 50 day moving average price is $114.46 and its two-hundred day moving average price is $105.73. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.72 and a current ratio of 0.93. Novartis AG has a 52-week low of $92.19 and a 52-week high of $120.92. The stock has a market cap of $237.98 billion, a PE ratio of 15.71, a PEG ratio of 1.74 and a beta of 0.57.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Thursday, July 18th. The company reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.10. The business had revenue of $12.87 billion for the quarter, compared to analyst estimates of $12.24 billion. Novartis had a return on equity of 34.56% and a net margin of 33.76%. During the same period last year, the company earned $1.83 EPS. As a group, analysts forecast 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.