Chemical Bank lowered its stake in shares of Novartis AG (NYSE:NVS) by 13.4% in the first quarter, HoldingsChannel reports. The firm owned 10,987 shares of the company’s stock after selling 1,703 shares during the period. Chemical Bank’s holdings in Novartis were worth $1,056,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Pathlight Investors LLC purchased a new stake in Novartis during the 4th quarter valued at about $408,000. Executive Wealth Management LLC purchased a new stake in Novartis during the 4th quarter valued at about $36,000. Wambolt & Associates LLC grew its stake in Novartis by 8.0% during the 1st quarter. Wambolt & Associates LLC now owns 8,256 shares of the company’s stock valued at $689,000 after acquiring an additional 609 shares in the last quarter. Perennial Advisors LLC grew its stake in Novartis by 12.2% during the 4th quarter. Perennial Advisors LLC now owns 13,682 shares of the company’s stock valued at $1,174,000 after acquiring an additional 1,485 shares in the last quarter. Finally, Nwam LLC grew its stake in Novartis by 13.7% during the 1st quarter. Nwam LLC now owns 3,623 shares of the company’s stock valued at $348,000 after acquiring an additional 437 shares in the last quarter. 11.66% of the stock is owned by institutional investors and hedge funds.

NYSE:NVS opened at $80.73 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.83 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $188.38 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 1.94 and a beta of 0.66. Novartis AG has a 1-year low of $63.60 and a 1-year high of $85.08.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $1.21 EPS for the quarter, topping the consensus estimate of $1.11 by $0.10. Novartis had a net margin of 24.55% and a return on equity of 16.75%. The firm had revenue of $11.11 billion for the quarter, compared to analyst estimates of $11.76 billion. During the same period in the prior year, the business posted $1.28 EPS. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. Equities analysts expect that Novartis AG will post 4.98 EPS for the current fiscal year.

NVS has been the subject of several research reports. Zacks Investment Research cut shares of Novartis from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 11th. Liberum Capital raised shares of Novartis from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. Guggenheim raised shares of Novartis from a “neutral” rating to a “buy” rating and set a $79.16 price objective for the company in a research note on Wednesday, April 24th. JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of Novartis in a research note on Wednesday, January 16th. Finally, Morgan Stanley lowered shares of Novartis from an “equal weight” rating to an “underweight” rating and boosted their target price for the company from $82.50 to $82.52 in a report on Wednesday, April 10th. Five research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $87.57.

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About Novartis

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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