Novartis AG (NVS) Position Cut by Courier Capital LLC
Courier Capital LLC decreased its position in Novartis AG (NYSE:NVS) by 17.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,985 shares of the company’s stock after selling 830 shares during the period. Courier Capital LLC’s holdings in Novartis were worth $343,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in NVS. A.R.T. Advisors LLC acquired a new position in Novartis in the first quarter valued at $1,293,000. Ancora Advisors LLC raised its holdings in shares of Novartis by 18.3% during the first quarter. Ancora Advisors LLC now owns 6,232 shares of the company’s stock valued at $504,000 after purchasing an additional 963 shares during the period. LPL Financial LLC raised its holdings in shares of Novartis by 13.5% during the first quarter. LPL Financial LLC now owns 110,279 shares of the company’s stock valued at $8,916,000 after purchasing an additional 13,126 shares during the period. Mariner LLC acquired a new position in shares of Novartis during the first quarter valued at about $462,000. Finally, Guggenheim Capital LLC raised its holdings in shares of Novartis by 2.7% during the first quarter. Guggenheim Capital LLC now owns 43,471 shares of the company’s stock valued at $3,515,000 after purchasing an additional 1,138 shares during the period. Institutional investors and hedge funds own 10.94% of the company’s stock.
NYSE:NVS opened at $82.78 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.15 and a debt-to-equity ratio of 0.30. The stock has a market cap of $199.67 billion, a PE ratio of 17.15, a price-to-earnings-growth ratio of 1.80 and a beta of 0.83. Novartis AG has a one year low of $72.30 and a one year high of $94.19.
Several equities analysts have recently weighed in on NVS shares. Zacks Investment Research upgraded shares of Novartis from a “sell” rating to a “hold” rating in a report on Tuesday, June 19th. ValuEngine lowered shares of Novartis from a “sell” rating to a “strong sell” rating in a report on Monday, July 2nd. DZ Bank reiterated a “buy” rating on shares of Novartis in a report on Thursday, July 19th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Novartis in a report on Thursday, July 19th. Finally, Barclays upgraded shares of Novartis from an “underweight” rating to an “equal weight” rating in a report on Thursday, July 19th. Thirteen analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $86.90.
In other news, major shareholder Bioventures Ltd Novartis sold 8,181 shares of the business’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $3.22, for a total transaction of $26,342.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders have sold 81,322 shares of company stock valued at $290,796. 0.01% of the stock is currently owned by insiders.
Novartis AG researches, develops, manufactures, and markets a range of healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines to enhance health outcomes for patients and health-care providers. This segment also commercializes products in the areas of oncology and rare diseases, ophthalmology, immunology and dermatology, neuroscience, respiratory, cardio-metabolic, and established medicines.
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