Cambiar Investors LLC Sells 91,047 Shares of Novartis AG (NYSE:NVS)

Cambiar Investors LLC cut its holdings in Novartis AG (NYSE:NVS - Free Report) by 42.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 125,609 shares of the company's stock after selling 91,047 shares during the quarter. Cambiar Investors LLC's holdings in Novartis were worth $14,448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of NVS. Founders Financial Securities LLC lifted its position in shares of Novartis by 3.4% in the 2nd quarter. Founders Financial Securities LLC now owns 2,832 shares of the company's stock worth $301,000 after purchasing an additional 94 shares during the period. Steigerwald Gordon & Koch Inc. lifted its holdings in Novartis by 4.8% in the third quarter. Steigerwald Gordon & Koch Inc. now owns 2,091 shares of the company's stock worth $241,000 after buying an additional 95 shares during the period. NBC Securities Inc. boosted its position in Novartis by 0.9% during the 2nd quarter. NBC Securities Inc. now owns 10,492 shares of the company's stock valued at $1,116,000 after acquiring an additional 97 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Novartis by 5.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,013 shares of the company's stock worth $196,000 after acquiring an additional 98 shares during the period. Finally, Portside Wealth Group LLC raised its position in shares of Novartis by 3.4% in the 2nd quarter. Portside Wealth Group LLC now owns 3,000 shares of the company's stock worth $319,000 after acquiring an additional 99 shares in the last quarter. Hedge funds and other institutional investors own 13.12% of the company's stock.

Wall Street Analysts Forecast Growth

NVS has been the topic of several research reports. BMO Capital Markets lifted their price target on Novartis from $118.00 to $120.00 and gave the company a "market perform" rating in a research report on Wednesday. Jefferies Financial Group cut shares of Novartis from a "buy" rating to a "hold" rating in a report on Tuesday, September 3rd. Bank of America lowered shares of Novartis from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $135.00 to $130.00 in a research note on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Novartis in a research note on Friday, July 19th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $121.00 target price (up previously from $119.00) on shares of Novartis in a research note on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $121.50.

Novartis Stock Up 0.9 %

Shares of NYSE NVS traded up $0.95 during midday trading on Friday, hitting $109.35. The stock had a trading volume of 1,112,188 shares, compared to its average volume of 1,136,256. The business's 50 day moving average is $115.76 and its 200-day moving average is $109.23. The company has a quick ratio of 0.72, a current ratio of 1.11 and a debt-to-equity ratio of 0.55. Novartis AG has a 52 week low of $92.35 and a 52 week high of $120.92. The company has a market cap of $223.51 billion, a P/E ratio of 12.70, a PEG ratio of 1.58 and a beta of 0.58.

Novartis (NYSE:NVS - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.94 by $0.12. Novartis had a return on equity of 34.80% and a net margin of 35.96%. The firm had revenue of $12.82 billion for the quarter, compared to the consensus estimate of $12.62 billion. During the same period in the prior year, the company posted $1.74 earnings per share. As a group, analysts predict that Novartis AG will post 7.56 EPS for the current year.

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.