Novartis AG (NVS) Shares Sold by Zevin Asset Management LLC

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Zevin Asset Management LLC reduced its holdings in shares of Novartis AG (NYSE:NVS) by 2.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 60,823 shares of the company’s stock after selling 1,245 shares during the period. Novartis comprises about 1.5% of Zevin Asset Management LLC’s investment portfolio, making the stock its 26th biggest position. Zevin Asset Management LLC’s holdings in Novartis were worth $5,241,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of NVS. Quad Cities Investment Group LLC acquired a new stake in shares of Novartis during the 2nd quarter valued at about $139,000. WESPAC Advisors SoCal LLC acquired a new stake in shares of Novartis during the 3rd quarter valued at about $152,000. Moneta Group Investment Advisors LLC acquired a new stake in shares of Novartis during the 2nd quarter valued at about $174,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Novartis during the 2nd quarter valued at about $199,000. Finally, Linscomb & Williams Inc. acquired a new stake in shares of Novartis during the 2nd quarter valued at about $200,000. Institutional investors and hedge funds own 10.95% of the company’s stock.

Several brokerages have recently weighed in on NVS. ValuEngine upgraded shares of Novartis from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 19th. Citigroup upgraded shares of Novartis from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 11th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Novartis in a research report on Tuesday. Guggenheim initiated coverage on shares of Novartis in a research report on Monday, October 8th. They set a “neutral” rating on the stock. Finally, DZ Bank restated a “buy” rating on shares of Novartis in a research report on Thursday, July 19th. Twelve investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Novartis presently has an average rating of “Hold” and an average target price of $84.86.

NYSE:NVS traded up $0.54 on Wednesday, reaching $88.46. The stock had a trading volume of 52,159 shares, compared to its average volume of 3,257,574. The firm has a market cap of $202.08 billion, a PE ratio of 18.41, a price-to-earnings-growth ratio of 1.93 and a beta of 0.73. Novartis AG has a 1-year low of $72.30 and a 1-year high of $94.19. The company has a quick ratio of 0.96, a current ratio of 1.20 and a debt-to-equity ratio of 0.29.

Novartis (NYSE:NVS) last released its quarterly earnings results on Thursday, October 18th. The company reported $1.32 EPS for the quarter, beating the Zacks’ consensus estimate 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 company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.29 earnings per share. On average, research analysts expect that Novartis AG will post 5.17 EPS for the current fiscal year.

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Novartis Company Profile

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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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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