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.

Novartis (NYSE:NVS) last posted its earnings results on Wednesday, July 18th. The company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.27 by $0.02. The company had revenue of $13.16 billion during the quarter, compared to the consensus estimate of $12.93 billion. Novartis had a net margin of 27.06% and a return on equity of 16.05%. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.22 earnings per share. On average, equities analysts predict that Novartis AG will post 5.17 earnings per share for the current fiscal year.

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 Profile

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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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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