Broderick Brian C Cuts Stock Position in Novartis AG (NYSE:NVS)

Broderick Brian C lowered its stake in Novartis AG (NYSE:NVS - Free Report) by 36.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,033 shares of the company's stock after selling 6,780 shares during the quarter. Broderick Brian C's holdings in Novartis were worth $1,384,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of NVS. Dimensional Fund Advisors LP increased its position in Novartis by 23.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,407,692 shares of the company's stock worth $788,626,000 after purchasing an additional 1,389,610 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Novartis by 191.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,904,664 shares of the company's stock worth $202,771,000 after purchasing an additional 1,250,318 shares during the period. Magnetar Financial LLC raised its holdings in Novartis by 53.7% in the 1st quarter. Magnetar Financial LLC now owns 1,906,046 shares of the company's stock valued at $184,372,000 after acquiring an additional 666,104 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in Novartis during the second quarter worth $64,610,000. Finally, Bank of Montreal Can lifted its stake in Novartis by 343.5% during the second quarter. Bank of Montreal Can now owns 657,903 shares of the company's stock worth $70,652,000 after purchasing an additional 509,567 shares during the period. Institutional investors own 13.12% of the company's stock.

Novartis Trading Down 0.4 %

Shares of NVS traded down $0.46 during trading hours on Friday, hitting $102.94. 939,096 shares of the stock were exchanged, compared to its average volume of 1,342,963. Novartis AG has a fifty-two week low of $92.35 and a fifty-two week high of $120.92. The business has a 50-day moving average of $113.41 and a 200-day moving average of $109.79. The firm has a market capitalization of $210.41 billion, a P/E ratio of 11.93, a price-to-earnings-growth ratio of 1.50 and a beta of 0.58. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.11 and a quick ratio of 0.90.

Novartis (NYSE:NVS - Get Free Report) last announced its earnings results on Tuesday, October 29th. The company reported $2.06 EPS for the quarter, beating the consensus estimate of $1.94 by $0.12. The company had revenue of $12.82 billion for the quarter, compared to analyst estimates of $12.62 billion. Novartis had a return on equity of 34.80% and a net margin of 35.96%. During the same quarter in the prior year, the company earned $1.74 EPS. On average, research analysts expect that Novartis AG will post 7.63 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on NVS. The Goldman Sachs Group restated a "neutral" rating and issued a $121.00 price objective (up previously from $119.00) on shares of Novartis in a research report on Thursday, September 5th. Bank of America lowered shares of Novartis from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $135.00 to $130.00 in a report on Wednesday, September 11th. BMO Capital Markets lifted their price objective on shares of Novartis from $118.00 to $120.00 and gave the company a "market perform" rating in a report on Wednesday, October 30th. Jefferies Financial Group downgraded shares of Novartis from a "buy" rating to a "hold" rating in a research report on Tuesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Novartis in a research note on Friday, July 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Novartis presently has a consensus rating of "Hold" and an average price target of $121.50.

Novartis Profile

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.