Managed Asset Portfolios LLC Increases Stock Position in Novartis AG $NVS

Managed Asset Portfolios LLC boosted its position in shares of Novartis AG (NYSE:NVS) by 1.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 197,040 shares of the company’s stock after purchasing an additional 2,290 shares during the period. Novartis makes up 3.1% of Managed Asset Portfolios LLC’s portfolio, making the stock its 13th biggest position. Managed Asset Portfolios LLC’s holdings in Novartis were worth $23,844,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Keybank National Association OH lifted its stake in shares of Novartis by 13.2% in the second quarter. Keybank National Association OH now owns 49,377 shares of the company’s stock worth $5,975,000 after acquiring an additional 5,742 shares in the last quarter. Sonora Investment Management Group LLC acquired a new stake in Novartis during the 2nd quarter valued at approximately $266,000. Cypress Capital Group increased its holdings in Novartis by 84.1% during the 2nd quarter. Cypress Capital Group now owns 5,776 shares of the company’s stock worth $699,000 after purchasing an additional 2,638 shares during the last quarter. Focus Partners Wealth raised its position in shares of Novartis by 16.8% in the 1st quarter. Focus Partners Wealth now owns 47,548 shares of the company’s stock valued at $5,311,000 after purchasing an additional 6,849 shares in the last quarter. Finally, Marshall Financial Group LLC acquired a new position in shares of Novartis in the 2nd quarter valued at approximately $1,909,000. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Stock Performance

Novartis stock opened at $128.01 on Wednesday. The company has a market cap of $270.41 billion, a PE ratio of 17.49, a P/E/G ratio of 1.93 and a beta of 0.60. The company has a fifty day moving average price of $127.62 and a two-hundred day moving average price of $121.67. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.88 and a quick ratio of 0.62. Novartis AG has a 12 month low of $96.06 and a 12 month high of $134.00.

Novartis (NYSE:NVS) last issued its earnings results on Tuesday, October 28th. The company reported $2.25 earnings per share for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.01). Novartis had a return on equity of 41.21% and a net margin of 26.49%.The business had revenue of $13.91 billion for the quarter, compared to analyst estimates of $13.70 billion. During the same period last year, the company posted $2.06 earnings per share. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. Research analysts expect that Novartis AG will post 8.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NVS. Cfra Research raised shares of Novartis to a “hold” rating in a research report on Wednesday, October 29th. Jefferies Financial Group reiterated a “hold” rating on shares of Novartis in a research note on Monday, October 27th. Wall Street Zen downgraded shares of Novartis from a “strong-buy” rating to a “hold” rating in a research report on Saturday, November 1st. Weiss Ratings restated a “buy (b-)” rating on shares of Novartis in a research note on Friday, October 31st. Finally, Cowen reaffirmed a “hold” rating on shares of Novartis in a research report on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Novartis presently has an average rating of “Hold” and a consensus target price of $122.33.

Novartis Profile

Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.