Novartis AG (NYSE:NVS) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC reduced its stake in Novartis AG (NYSE:NVS - Free Report) by 10.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 224,038 shares of the company's stock after selling 25,584 shares during the period. Janney Montgomery Scott LLC's holdings in Novartis were worth $24,976,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Human Investing LLC bought a new position in Novartis in the fourth quarter worth approximately $25,000. Raiffeisen Bank International AG purchased a new stake in shares of Novartis in the 4th quarter worth $25,000. Nexus Investment Management ULC bought a new position in shares of Novartis during the 1st quarter worth $25,000. Union Bancaire Privee UBP SA purchased a new position in shares of Novartis during the fourth quarter valued at $27,000. Finally, Park Square Financial Group LLC purchased a new position in shares of Novartis during the fourth quarter valued at $30,000. 13.12% of the stock is owned by hedge funds and other institutional investors.

Novartis Stock Down 0.4%

Shares of NVS traded down $0.44 during trading hours on Wednesday, hitting $115.97. The company had a trading volume of 1,004,533 shares, compared to its average volume of 1,577,304. The company has a current ratio of 0.79, a quick ratio of 0.61 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $244.98 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 1.70 and a beta of 0.59. Novartis AG has a one year low of $96.06 and a one year high of $120.92. The company's fifty day moving average price is $112.42 and its two-hundred day moving average price is $107.27.

Novartis (NYSE:NVS - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.12 by $0.16. Novartis had a net margin of 24.70% and a return on equity of 39.44%. The business had revenue of $13.23 billion during the quarter, compared to analyst estimates of $12.92 billion. During the same period in the prior year, the firm posted $1.80 earnings per share. The company's quarterly revenue was up 11.9% on a year-over-year basis. As a group, equities analysts forecast that Novartis AG will post 8.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, BNP Paribas raised shares of Novartis to a "strong-buy" rating in a research note on Tuesday, April 15th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $123.38.

Novartis Company 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.