Novartis AG (NVS) Shares Sold by Rehmann Capital Advisory Group
Rehmann Capital Advisory Group decreased its stake in shares of Novartis AG (NYSE:NVS) by 6.5% during the second quarter, Holdings Channel reports. The institutional investor owned 4,057 shares of the company’s stock after selling 281 shares during the period. Rehmann Capital Advisory Group’s holdings in Novartis AG were worth $335,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Franklin Resources Inc. raised its stake in Novartis AG by 22.4% in the first quarter. Franklin Resources Inc. now owns 11,998,737 shares of the company’s stock valued at $869,189,000 after buying an additional 2,195,618 shares in the last quarter. Douglas Lane & Associates LLC acquired a new stake in Novartis AG during the first quarter valued at about $36,474,000. Loomis Sayles & Co. L P raised its stake in Novartis AG by 8.5% in the first quarter. Loomis Sayles & Co. L P now owns 5,242,948 shares of the company’s stock valued at $379,800,000 after buying an additional 408,972 shares in the last quarter. Woodley Farra Manion Portfolio Management Inc. acquired a new stake in Novartis AG during the second quarter valued at about $26,632,000. Finally, Ngam Advisors L.P. raised its stake in Novartis AG by 34.9% in the first quarter. Ngam Advisors L.P. now owns 776,559 shares of the company’s stock valued at $56,255,000 after buying an additional 200,917 shares in the last quarter. 9.78% of the stock is owned by institutional investors.
Novartis AG (NYSE:NVS) traded up 1.40% on Tuesday, hitting $81.06. The stock had a trading volume of 1,342,125 shares. The company’s 50 day moving average price is $80.80 and its 200 day moving average price is $78.33. Novartis AG has a 52-week low of $69.90 and a 52-week high of $95.11. The firm has a market cap of $193.02 billion, a price-to-earnings ratio of 28.94 and a beta of 0.58.
Novartis AG (NYSE:NVS) last posted its quarterly earnings data on Tuesday, July 19th. The company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.18 by $0.05. The firm earned $12.47 billion during the quarter, compared to analyst estimates of $12.33 billion. Novartis AG had a return on equity of 15.33% and a net margin of 13.84%. During the same period in the prior year, the business posted $1.25 EPS. Analysts expect that Novartis AG will post $4.73 EPS for the current year.
Several equities research analysts recently issued reports on NVS shares. JPMorgan Chase & Co. reissued a “buy” rating on shares of Novartis AG in a research note on Tuesday, July 19th. TheStreet raised Novartis AG from a “hold” rating to a “buy” rating in a research note on Friday, June 24th. Chardan Capital started coverage on Novartis AG in a research note on Tuesday. They set a “buy” rating and a $95.00 price objective for the company. Argus reissued a “hold” rating on shares of Novartis AG in a research note on Thursday, August 25th. Finally, Bank of America Corp. reissued a “hold” rating on shares of Novartis AG in a research note on Tuesday, July 12th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $91.83.
About Novartis AG
Novartis AG is a holding company. The Company specializes in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals, including eye care products. Its portfolio includes medicines, eye care and generic pharmaceuticals. The Company’s segments include Pharmaceuticals, Alcon and Sandoz.
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