Chickasaw Capital Management LLC Sells 29,800 Shares of Novartis AG (NVS)

Chickasaw Capital Management LLC decreased its position in Novartis AG (NYSE:NVS) by 78.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 8,000 shares of the company’s stock after selling 29,800 shares during the quarter. Chickasaw Capital Management LLC’s holdings in Novartis were worth $672,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NVS. Janus Henderson Group PLC boosted its position in Novartis by 42,797.5% during the second quarter. Janus Henderson Group PLC now owns 1,914,516 shares of the company’s stock worth $159,821,000 after purchasing an additional 1,910,053 shares during the period. Parnassus Investments CA boosted its position in Novartis by 18.5% during the third quarter. Parnassus Investments CA now owns 9,447,817 shares of the company’s stock worth $811,095,000 after purchasing an additional 1,477,168 shares during the period. FMR LLC boosted its position in Novartis by 172.1% during the second quarter. FMR LLC now owns 2,294,782 shares of the company’s stock worth $191,546,000 after purchasing an additional 1,451,441 shares during the period. BlackRock Inc. boosted its position in Novartis by 25.3% during the second quarter. BlackRock Inc. now owns 3,549,783 shares of the company’s stock worth $296,299,000 after purchasing an additional 717,186 shares during the period. Finally, Bain Capital Public Equity Management LLC bought a new stake in Novartis during the second quarter worth approximately $45,845,000. 10.85% of the stock is owned by institutional investors and hedge funds.

Novartis AG (NYSE:NVS) opened at $86.27 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.08 and a quick ratio of 0.81. The company has a market capitalization of $204,079.88, a price-to-earnings ratio of 30.70, a P/E/G ratio of 2.55 and a beta of 0.73. Novartis AG has a 12 month low of $69.53 and a 12 month high of $86.90.

Novartis (NYSE:NVS) last issued its earnings results on Tuesday, October 24th. The company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.04. The business had revenue of $12.41 billion during the quarter, compared to analyst estimates of $12.21 billion. Novartis had a return on equity of 15.77% and a net margin of 13.73%. Novartis’s revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.23 earnings per share. research analysts predict that Novartis AG will post 4.77 EPS for the current fiscal year.

A number of research analysts have recently commented on NVS shares. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Novartis in a report on Tuesday, September 26th. Zacks Investment Research lowered Novartis from a “buy” rating to a “hold” rating in a report on Thursday, September 21st. Leerink Swann upped their price target on Novartis from $89.00 to $91.00 and gave the stock a “market perform” rating in a report on Monday, October 23rd. Nord/LB reiterated a “neutral” rating on shares of Novartis in a report on Tuesday, January 2nd. Finally, Bank of America lowered Novartis from a “neutral” rating to an “underperform” rating in a report on Wednesday, December 6th. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $85.32.

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Novartis Profile

Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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