Lcnb Corp reduced its holdings in shares of Novartis AG (NYSE:NVS) by 14.5% during the second quarter, Holdings Channel reports. The fund owned 12,617 shares of the company’s stock after selling 2,146 shares during the period. Lcnb Corp’s holdings in Novartis were worth $1,152,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Primecap Management Co. CA grew its position in Novartis by 4.2% during the first quarter. Primecap Management Co. CA now owns 23,857,216 shares of the company’s stock valued at $2,293,633,000 after acquiring an additional 969,985 shares during the last quarter. FMR LLC grew its position in Novartis by 23.7% during the first quarter. FMR LLC now owns 8,678,552 shares of the company’s stock valued at $834,356,000 after acquiring an additional 1,662,505 shares during the last quarter. Fisher Asset Management LLC grew its position in Novartis by 3.1% during the second quarter. Fisher Asset Management LLC now owns 8,067,235 shares of the company’s stock valued at $736,619,000 after acquiring an additional 244,544 shares during the last quarter. Mawer Investment Management Ltd. grew its position in Novartis by 19.2% during the first quarter. Mawer Investment Management Ltd. now owns 5,680,653 shares of the company’s stock valued at $546,138,000 after acquiring an additional 916,167 shares during the last quarter. Finally, Janus Henderson Group PLC grew its position in Novartis by 5.0% during the second quarter. Janus Henderson Group PLC now owns 3,903,956 shares of the company’s stock valued at $356,470,000 after acquiring an additional 186,461 shares during the last quarter. Institutional investors and hedge funds own 11.87% of the company’s stock.

A number of research analysts have commented on NVS shares. Argus increased their price target on shares of Novartis to $105.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. They noted that the move was a valuation call. Guggenheim raised 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. Zacks Investment Research lowered Novartis from a “buy” rating to a “hold” rating and set a $100.00 price objective for the company. in a research note on Friday, July 19th. Kepler Capital Markets lowered Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Liberum Capital raised Novartis from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $90.63.

Shares of NYSE:NVS traded down $1.45 during trading on Wednesday, reaching $89.65. 278,730 shares of the company traded hands, compared to its average volume of 2,395,911. The stock has a market capitalization of $209.06 billion, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 2.07 and a beta of 0.58. Novartis AG has a 52-week low of $71.33 and a 52-week high of $95.00. The company has a quick ratio of 0.74, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. The firm’s fifty day simple moving average is $91.40.

Novartis (NYSE:NVS) last released its quarterly earnings data on Thursday, July 18th. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.14. The firm had revenue of $11.76 billion during the quarter, compared to analyst estimates of $11.45 billion. Novartis had a return on equity of 18.55% and a net margin of 23.27%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.29 earnings per share. On average, research analysts forecast that Novartis AG will post 5.06 EPS for the current year.

Novartis Company Profile

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.

Featured Story: What are momentum indicators and what do they show?

Want to see what other hedge funds are holding NVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Novartis AG (NYSE:NVS).

Institutional Ownership by Quarter for Novartis (NYSE:NVS)

Receive News & Ratings for Novartis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novartis and related companies with MarketBeat.com's FREE daily email newsletter.