Novartis AG (NVS) Shares Sold by Sterling Capital Management LLC

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Sterling Capital Management LLC cut its stake in shares of Novartis AG (NYSE:NVS) by 8.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,010 shares of the company’s stock after selling 1,117 shares during the period. Sterling Capital Management LLC’s holdings in Novartis were worth $1,035,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. WESPAC Advisors SoCal LLC acquired a new position in shares of Novartis during the third quarter worth $152,000. Quad Cities Investment Group LLC acquired a new position in shares of Novartis during the second quarter worth $139,000. Davis R M Inc. acquired a new position in shares of Novartis during the third quarter worth $200,000. First Midwest Bank Trust Division acquired a new position in shares of Novartis during the third quarter worth $204,000. Finally, Patton Albertson Miller Group LLC acquired a new position in shares of Novartis during the third quarter worth $211,000. Institutional investors own 10.95% of the company’s stock.

NVS has been the subject of several research analyst reports. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Novartis in a report on Thursday, October 11th. Zacks Investment Research downgraded shares of Novartis from a “hold” rating to a “sell” rating in a report on Wednesday, August 29th. BNP Paribas upgraded Novartis from an “underperform” rating to a “neutral” rating in a report on Tuesday, September 11th. Wolfe Research initiated coverage on Novartis in a report on Tuesday, October 23rd. They issued an “outperform” rating for the company. Finally, Bank of America upgraded Novartis from an “underperform” rating to a “buy” rating and set a $74.71 price objective for the company in a report on Monday, September 10th. Twelve equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $84.86.

NYSE NVS opened at $89.22 on Friday. The firm has a market capitalization of $206.02 billion, a P/E ratio of 18.55, a P/E/G ratio of 1.97 and a beta of 0.73. Novartis AG has a twelve month low of $72.30 and a twelve month high of $94.19. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.20 and a quick ratio of 0.96.

Novartis (NYSE:NVS) last posted its quarterly earnings data on Thursday, October 18th. The company reported $1.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.01. The business had revenue of $12.78 billion during the quarter, compared to the consensus estimate of $12.88 billion. Novartis had a return on equity of 15.81% and a net margin of 25.98%. Novartis’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.29 earnings per share. On average, sell-side analysts anticipate 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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