Neuberger Berman Group LLC Sells 44,936 Shares of Novartis AG (NYSE:NVS)

Neuberger Berman Group LLC trimmed its position in Novartis AG (NYSE:NVSGet Rating) by 5.2% during the 1st quarter, HoldingsChannel reports. The firm owned 822,183 shares of the company’s stock after selling 44,936 shares during the quarter. Neuberger Berman Group LLC’s holdings in Novartis were worth $72,146,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Sanders Capital LLC bought a new stake in Novartis during the first quarter worth approximately $99,740,000. The Manufacturers Life Insurance Company grew its stake in shares of Novartis by 25.4% during the first quarter. The Manufacturers Life Insurance Company now owns 209,545 shares of the company’s stock valued at $18,388,000 after buying an additional 42,478 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Novartis by 9.1% during the first quarter. Capital Research Global Investors now owns 985,114 shares of the company’s stock valued at $86,444,000 after buying an additional 82,458 shares during the last quarter. Continuum Advisory LLC bought a new position in shares of Novartis during the first quarter valued at approximately $334,000. Finally, Avalon Investment & Advisory grew its stake in shares of Novartis by 33.5% during the first quarter. Avalon Investment & Advisory now owns 50,048 shares of the company’s stock valued at $4,392,000 after buying an additional 12,548 shares during the last quarter. 9.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

NVS has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their target price on Novartis from CHF 80 to CHF 81 and gave the company an “underweight” rating in a research note on Wednesday, July 20th. Oppenheimer lowered Novartis from an “outperform” rating to a “market perform” rating in a report on Friday, June 3rd. Deutsche Bank Aktiengesellschaft lowered their price target on Novartis from CHF 80 to CHF 75 in a report on Wednesday, June 29th. Credit Suisse Group lowered Novartis from a “neutral” rating to an “underperform” rating in a report on Thursday. Finally, Kepler Capital Markets upgraded Novartis from a “hold” rating to a “buy” rating and set a CHF 90 price target for the company in a report on Wednesday, September 7th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Novartis presently has a consensus rating of “Hold” and an average target price of $87.00.

Novartis Stock Down 0.1 %

Novartis stock opened at $80.65 on Friday. The business has a fifty day moving average of $83.89 and a two-hundred day moving average of $85.90. The company has a quick ratio of 1.13, a current ratio of 1.38 and a debt-to-equity ratio of 0.35. The firm has a market cap of $178.45 billion, a P/E ratio of 7.88, a P/E/G ratio of 2.28 and a beta of 0.53. Novartis AG has a twelve month low of $79.09 and a twelve month high of $94.26.

Novartis (NYSE:NVSGet Rating) last issued its quarterly earnings results on Monday, July 18th. The company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.04. The business had revenue of $12.78 billion for the quarter, compared to the consensus estimate of $12.78 billion. Novartis had a return on equity of 21.88% and a net margin of 44.31%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.64 earnings per share. On average, analysts forecast that Novartis AG will post 6.06 earnings per share for the current fiscal year.

Novartis Company Profile

(Get Rating)

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company operates through two segments, Innovative Medicines and Sandoz. The Innovative Medicines segment offers prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology, dermatology, respiratory, cardiovascular, renal, and metabolism medicine products.

Featured Articles

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:NVSGet Rating).

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.