Novartis AG $NVS Shares Sold by Capital Insight Partners LLC

Key Points

• Capital Insight Partners LLC reduced its holdings in Novartis AG by 7.8%, selling 2,393 shares during the second quarter, leaving them with 28,439 shares valued at approximately $3.44 million.
• Novartis reported $2.42 earnings per share for the last quarter, beating consensus estimates and reflecting a 12.3% increase in revenue compared to the same quarter last year.
• Analysts have given Novartis a consensus rating of "Hold", with a price target averaging around $120.33, following various changes in ratings by major investment firms.

Capital Insight Partners LLC lowered its position in shares of Novartis AG (NYSE:NVS - Free Report) by 7.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,439 shares of the company's stock after selling 2,393 shares during the quarter. Capital Insight Partners LLC's holdings in Novartis were worth $3,441,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. WPG Advisers LLC acquired a new position in Novartis in the first quarter worth $25,000. Tsfg LLC lifted its position in shares of Novartis by 366.0% in the 1st quarter. Tsfg LLC now owns 233 shares of the company's stock worth $26,000 after buying an additional 183 shares during the last quarter. MCF Advisors LLC boosted its holdings in shares of Novartis by 66.0% in the 2nd quarter. MCF Advisors LLC now owns 264 shares of the company's stock valued at $32,000 after buying an additional 105 shares during the period. Highline Wealth Partners LLC grew its position in shares of Novartis by 82.4% during the 2nd quarter. Highline Wealth Partners LLC now owns 290 shares of the company's stock valued at $35,000 after buying an additional 131 shares during the last quarter. Finally, Maseco LLP acquired a new stake in Novartis during the second quarter worth about $36,000. Institutional investors and hedge funds own 13.12% of the company's stock.

Novartis Trading Up 1.2%

NYSE:NVS opened at $123.75 on Monday. The stock has a market cap of $261.41 billion, a price-to-earnings ratio of 18.01, a PEG ratio of 1.73 and a beta of 0.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.62 and a current ratio of 0.82. Novartis AG has a 1 year low of $96.06 and a 1 year high of $130.46. The business has a fifty day moving average of $122.31 and a 200-day moving average of $116.62.

Novartis (NYSE:NVS - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.04. The business had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $13.94 billion. Novartis had a net margin of 25.64% and a return on equity of 41.08%. The company's quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.97 earnings per share. Equities analysts predict that Novartis AG will post 8.45 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Wall Street Zen downgraded Novartis from a "strong-buy" rating to a "buy" rating in a research note on Friday, August 22nd. The Goldman Sachs Group restated a "sell" rating and set a $118.00 price objective (down previously from $119.00) on shares of Novartis in a research report on Friday, September 12th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Novartis in a research report on Thursday, August 21st. Finally, Morgan Stanley raised shares of Novartis from an "underweight" rating to an "equal weight" rating and set a $123.00 price target for the company in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $120.33.

About Novartis

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.

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