Novartis AG (NYSE:NVS) Stake Cut by Highland Capital Management LLC

Highland Capital Management LLC decreased its holdings in Novartis AG (NYSE:NVS) by 2.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,112 shares of the company’s stock after selling 400 shares during the period. Highland Capital Management LLC’s holdings in Novartis were worth $1,568,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in NVS. Xponance Inc. purchased a new stake in Novartis in the 2nd quarter worth approximately $233,000. AQR Capital Management LLC increased its stake in shares of Novartis by 257.7% in the second quarter. AQR Capital Management LLC now owns 9,702 shares of the company’s stock worth $1,033,000 after acquiring an additional 6,990 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Novartis by 4.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 66,880 shares of the company’s stock valued at $7,120,000 after purchasing an additional 2,689 shares during the last quarter. Cetera Investment Advisers grew its stake in Novartis by 2.9% in the second quarter. Cetera Investment Advisers now owns 109,656 shares of the company’s stock valued at $11,674,000 after purchasing an additional 3,121 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in Novartis in the 2nd quarter worth about $7,908,000. 13.12% of the stock is owned by hedge funds and other institutional investors.

Novartis Price Performance

Shares of NYSE:NVS opened at $104.99 on Friday. The company has a market cap of $214.61 billion, a price-to-earnings ratio of 12.19, a PEG ratio of 1.49 and a beta of 0.57. The business has a 50 day moving average price of $100.07 and a 200 day moving average price of $108.53. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 0.55. Novartis AG has a twelve month low of $92.35 and a twelve month high of $120.92.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.12. The business had revenue of $12.82 billion for the quarter, compared to the consensus estimate of $12.62 billion. Novartis had a net margin of 35.96% and a return on equity of 34.80%. During the same quarter last year, the company posted $1.74 earnings per share. Research analysts predict that Novartis AG will post 7.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

NVS has been the subject of several recent research reports. StockNews.com cut Novartis from a “strong-buy” rating to a “buy” rating in a research note on Friday. Erste Group Bank reissued a “hold” rating on shares of Novartis in a research report on Tuesday, November 19th. HSBC lowered shares of Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. Finally, BMO Capital Markets boosted their price target on Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Novartis has a consensus rating of “Hold” and an average target price of $123.38.

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.