Cable Hill Partners LLC Decreases Position in Novartis AG (NYSE:NVS)

Cable Hill Partners LLC decreased its holdings in shares of Novartis AG (NYSE:NVS) by 5.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,699 shares of the company’s stock after selling 255 shares during the quarter. Cable Hill Partners LLC’s holdings in Novartis were worth $429,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of NVS. OLD Mission Capital LLC lifted its stake in Novartis by 85.1% in the third quarter. OLD Mission Capital LLC now owns 367,985 shares of the company’s stock valued at $32,000,000 after buying an additional 169,219 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Novartis by 80.4% in the first quarter. BlackRock Inc. now owns 1,250,230 shares of the company’s stock valued at $106,870,000 after purchasing an additional 557,281 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Novartis by 0.8% in the first quarter. Principal Financial Group Inc. now owns 1,687,040 shares of the company’s stock valued at $144,208,000 after purchasing an additional 12,864 shares during the period. New York State Common Retirement Fund increased its holdings in shares of Novartis by 2,698.3% in the first quarter. New York State Common Retirement Fund now owns 80,283 shares of the company’s stock valued at $6,863,000 after purchasing an additional 77,414 shares during the period. Finally, Acadian Asset Management LLC increased its holdings in shares of Novartis by 51.3% in the first quarter. Acadian Asset Management LLC now owns 3,589 shares of the company’s stock valued at $307,000 after purchasing an additional 1,217 shares during the period. Hedge funds and other institutional investors own 9.90% of the company’s stock.

A number of research analysts have recently issued reports on NVS shares. UBS Group reissued a “buy” rating on shares of Novartis in a report on Friday, October 8th. Zacks Investment Research lowered Novartis from a “hold” rating to a “sell” rating and set a $96.00 price objective on the stock. in a report on Monday, July 26th. Berenberg Bank reaffirmed a “buy” rating on shares of Novartis in a report on Tuesday. Deutsche Bank Aktiengesellschaft lowered Novartis from a “hold” rating to a “sell” rating in a report on Monday, September 20th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Novartis in a report on Wednesday, July 28th. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Novartis presently has an average rating of “Hold” and an average target price of $104.33.

Novartis stock traded up $0.21 during trading hours on Thursday, hitting $82.64. The stock had a trading volume of 28,037 shares, compared to its average volume of 1,916,302. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.80 and a quick ratio of 0.56. Novartis AG has a 1-year low of $77.04 and a 1-year high of $98.52. The stock’s fifty day moving average is $87.73 and its two-hundred day moving average is $88.99. The stock has a market capitalization of $184.84 billion, a price-to-earnings ratio of 20.87, a PEG ratio of 2.07 and a beta of 0.54.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Tuesday, July 20th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.52 by $0.14. Novartis had a return on equity of 25.25% and a net margin of 17.83%. The business had revenue of $12.96 billion for the quarter, compared to the consensus estimate of $12.41 billion. During the same period in the prior year, the business earned $1.36 earnings per share. The business’s revenue was up 14.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Novartis AG will post 6.28 EPS for the current year.

Novartis Profile

Novartis AG is a holding company, which engages in the development, manufacture, and marketing of healthcare products. It operates through the following segments: Innovative Medicines, Sandoz, and Corporate. The Innovative Medicines segment researches, develops, manufactures, distributes and sells patented pharmaceuticals, and is composed of two business units: Novartis Oncology and Novartis Pharmaceuticals.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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