Boston Common Asset Management LLC cut its position in shares of Novartis AG (NYSE:NVS – Free Report) by 15.1% during the second quarter, Holdings Channel.com reports. The firm owned 91,740 shares of the company’s stock after selling 16,376 shares during the quarter. Boston Common Asset Management LLC’s holdings in Novartis were worth $14,377,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Brighton Jones LLC lifted its holdings in Novartis by 76.5% in the fourth quarter. Brighton Jones LLC now owns 6,153 shares of the company’s stock valued at $599,000 after acquiring an additional 2,666 shares during the last quarter. AQR Capital Management LLC increased its stake in Novartis by 102.8% during the first quarter. AQR Capital Management LLC now owns 22,573 shares of the company’s stock worth $2,516,000 after acquiring an additional 11,444 shares during the last quarter. Empowered Funds LLC acquired a new stake in Novartis during the first quarter worth $1,764,000. Sivia Capital Partners LLC raised its position in Novartis by 48.0% in the second quarter. Sivia Capital Partners LLC now owns 7,959 shares of the company’s stock valued at $963,000 after purchasing an additional 2,581 shares during the period. Finally, Schnieders Capital Management LLC. purchased a new stake in Novartis in the second quarter valued at $202,000. 13.12% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on the company. Citigroup reiterated a “buy” rating on shares of Novartis in a report on Wednesday, July 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Novartis in a research report on Friday, July 24th. Seven analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $141.20.
Novartis Stock Down 0.3%
Novartis stock opened at $151.85 on Friday. The company has a market capitalization of $289.76 billion, a PE ratio of 22.90, a price-to-earnings-growth ratio of 2.61 and a beta of 0.45. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.67 and a current ratio of 0.86. Novartis AG has a fifty-two week low of $120.78 and a fifty-two week high of $170.46. The firm has a 50 day moving average price of $153.68 and a 200 day moving average price of $153.41.
Novartis (NYSE:NVS – Get Free Report) last released its quarterly earnings results on Tuesday, June 30th. The company reported $2.41 EPS for the quarter. Novartis had a return on equity of 38.56% and a net margin of 23.29%.The business had revenue of $14.95 billion during the quarter. Research analysts expect that Novartis AG will post 8.85 earnings per share for the current year.
About Novartis
Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.
The company’s activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.
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