Novartis AG $NVS Stake Lowered by US Bancorp DE

Key Points

• US Bancorp DE has reduced its stake in Novartis AG by 9.2%, now holding 223,060 shares worth approximately $26.99 million after selling 22,670 shares in the second quarter.
• Novartis recently reported earnings of $2.42 EPS for the quarter, exceeding expectations, with a revenue of $14.05 billion, marking a 12.3% year-over-year growth.
• Analyst ratings for Novartis are mixed, with one "Strong Buy," two "Buy," four "Hold," and three "Sell" ratings, reflecting a consensus rating of "Hold" and an average target price of $120.33.

US Bancorp DE cut its stake in shares of Novartis AG (NYSE:NVS - Free Report) by 9.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 223,060 shares of the company's stock after selling 22,670 shares during the quarter. US Bancorp DE's holdings in Novartis were worth $26,993,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Ignite Planners LLC grew its holdings in Novartis by 3.0% in the 2nd quarter. Ignite Planners LLC now owns 5,970 shares of the company's stock worth $682,000 after buying an additional 174 shares in the last quarter. Spectrum Asset Management Inc. NB CA bought a new position in Novartis in the 2nd quarter worth approximately $2,984,000. Venturi Wealth Management LLC grew its holdings in Novartis by 9.1% in the 2nd quarter. Venturi Wealth Management LLC now owns 12,957 shares of the company's stock worth $1,568,000 after buying an additional 1,081 shares in the last quarter. Godsey & Gibb Inc. grew its holdings in Novartis by 0.4% in the 2nd quarter. Godsey & Gibb Inc. now owns 196,287 shares of the company's stock worth $23,753,000 after buying an additional 830 shares in the last quarter. Finally, Mraz Amerine & Associates Inc. grew its holdings in Novartis by 37.2% in the 2nd quarter. Mraz Amerine & Associates Inc. now owns 6,298 shares of the company's stock worth $762,000 after buying an additional 1,706 shares in the last quarter. 13.12% of the stock is owned by institutional investors.

Novartis Price Performance

Shares of NYSE:NVS opened at $130.05 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.62 and a debt-to-equity ratio of 0.53. The firm has a market cap of $274.72 billion, a price-to-earnings ratio of 18.93, a P/E/G ratio of 1.81 and a beta of 0.64. Novartis AG has a 1 year low of $96.06 and a 1 year high of $133.55. The business has a fifty day simple moving average of $125.14 and a 200 day simple moving average of $117.86.

Novartis (NYSE:NVS - Get Free Report) last posted its earnings results on Thursday, July 17th. The company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.38 by $0.04. The firm had revenue of $14.05 billion for 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 business's quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.97 earnings per share. As a group, sell-side analysts predict that Novartis AG will post 8.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group reissued a "sell" rating and issued a $118.00 price objective (down from $119.00) on shares of Novartis in a report on Friday, September 12th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Novartis in a research report on Thursday, August 21st. Weiss Ratings restated a "buy (b)" rating on shares of Novartis in a research report on Wednesday. Morgan Stanley upgraded Novartis from an "underweight" rating to an "equal weight" rating and set a $123.00 target price for the company in a research report on Friday, August 8th. Finally, Wall Street Zen upgraded Novartis from a "buy" rating to a "strong-buy" rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Novartis has a consensus rating of "Hold" and an average target price of $120.33.

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.

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