Novartis AG (NYSE:NVS) Shares Sold by Foresight Global Investors Inc.

Key Points

• Foresight Global Investors Inc. reduced its stake in Novartis AG by 19.2%, holding 187,825 shares valued at approximately $20.9 million at the end of Q1.
• Novartis reported a quarterly EPS of $2.42, surpassing expectations, and had a 12.3% increase in revenue year-over-year.
• BNP Paribas upgraded Novartis to a "strong-buy" rating, contributing to a consensus rating of "Hold" among analysts with an average price target of $123.67.

Foresight Global Investors Inc. decreased its position in Novartis AG (NYSE:NVS - Free Report) by 19.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 187,825 shares of the company's stock after selling 44,541 shares during the period. Novartis comprises 14.7% of Foresight Global Investors Inc.'s investment portfolio, making the stock its 2nd biggest position. Foresight Global Investors Inc.'s holdings in Novartis were worth $20,939,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Deutsche Bank AG increased its holdings in shares of Novartis by 5.2% in the first quarter. Deutsche Bank AG now owns 51,042 shares of the company's stock valued at $5,690,000 after purchasing an additional 2,500 shares during the last quarter. Altfest L J & Co. Inc. grew its holdings in Novartis by 8.3% in the 1st quarter. Altfest L J & Co. Inc. now owns 3,518 shares of the company's stock valued at $392,000 after buying an additional 270 shares in the last quarter. Chicago Partners Investment Group LLC increased its stake in shares of Novartis by 4.5% in the 1st quarter. Chicago Partners Investment Group LLC now owns 2,495 shares of the company's stock worth $279,000 after acquiring an additional 107 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Novartis by 12.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 185,603 shares of the company's stock worth $20,691,000 after acquiring an additional 20,161 shares during the last quarter. Finally, Greykasell Wealth Strategies Inc. acquired a new position in shares of Novartis during the 1st quarter valued at about $224,000. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Stock Performance

Shares of NVS opened at $113.55 on Thursday. The company has a market capitalization of $239.87 billion, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 1.66 and a beta of 0.62. Novartis AG has a 52-week low of $96.06 and a 52-week high of $124.83. The company has a quick ratio of 0.62, a current ratio of 0.82 and a debt-to-equity ratio of 0.53. The stock has a 50 day moving average price of $118.14 and a 200 day moving average price of $112.01.

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

Wall Street Analysts Forecast Growth

Separately, BNP Paribas raised Novartis to a "strong-buy" rating in a research report on Tuesday, April 15th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Novartis presently has a consensus rating of "Hold" and an average price target of $123.67.

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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