Exencial Wealth Advisors LLC decreased its holdings in Novartis AG (NYSE:NVS) by 1.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 200,826 shares of the company’s stock after selling 3,482 shares during the period. Novartis comprises approximately 4.0% of Exencial Wealth Advisors LLC’s investment portfolio, making the stock its 2nd biggest holding. Exencial Wealth Advisors LLC’s holdings in Novartis were worth $17,303,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Palisade Asset Management LLC grew its holdings in Novartis by 2.7% in the third quarter. Palisade Asset Management LLC now owns 22,117 shares of the company’s stock worth $1,906,000 after purchasing an additional 588 shares during the last quarter. Ferguson Wellman Capital Management Inc. grew its holdings in Novartis by 9.2% in the third quarter. Ferguson Wellman Capital Management Inc. now owns 7,000 shares of the company’s stock worth $603,000 after purchasing an additional 590 shares during the last quarter. LeJeune Puetz Investment Counsel LLC grew its holdings in Novartis by 11.3% in the third quarter. LeJeune Puetz Investment Counsel LLC now owns 5,925 shares of the company’s stock worth $510,000 after purchasing an additional 600 shares during the last quarter. Dempze Nancy E grew its holdings in Novartis by 2.4% in the third quarter. Dempze Nancy E now owns 25,560 shares of the company’s stock worth $2,203,000 after purchasing an additional 608 shares during the last quarter. Finally, ST Germain D J Co. Inc. grew its holdings in Novartis by 14.8% in the second quarter. ST Germain D J Co. Inc. now owns 4,765 shares of the company’s stock worth $360,000 after purchasing an additional 615 shares during the last quarter. 10.95% of the stock is owned by institutional investors.
Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Novartis in a report on Tuesday. BNP Paribas raised shares of Novartis from an “underperform” rating to a “neutral” rating in a report on Tuesday, September 11th. Barclays raised shares of Novartis from an “underweight” rating to an “equal weight” rating in a report on Thursday, July 19th. Wolfe Research began coverage on shares of Novartis in a report on Tuesday, October 23rd. They issued an “outperform” rating on the stock. Finally, Exane BNP Paribas raised shares of Novartis from an “underperform” rating to a “neutral” rating in a report on Tuesday, September 11th. Twelve analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Novartis has an average rating of “Hold” and an average target price of $84.86.
Novartis (NYSE:NVS) last announced its quarterly earnings data on Thursday, October 18th. The company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.01. The firm had revenue of $12.78 billion for the quarter, compared to analyst estimates of $12.88 billion. Novartis had a net margin of 25.98% and a return on equity of 15.81%. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.29 earnings per share. Sell-side analysts anticipate that Novartis AG will post 5.17 EPS for the current fiscal year.
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Novartis AG researches, develops, manufactures, and markets a range of healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines to enhance health outcomes for patients and health-care providers. This segment also commercializes products in the areas of oncology and rare diseases, ophthalmology, immunology and dermatology, neuroscience, respiratory, cardio-metabolic, and established medicines.
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