EagleClaw Capital Managment LLC Sells 1,850 Shares of Novartis AG (NYSE:NVS)

EagleClaw Capital Managment LLC trimmed its position in shares of Novartis AG (NYSE:NVS) by 7.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,434 shares of the company’s stock after selling 1,850 shares during the period. EagleClaw Capital Managment LLC’s holdings in Novartis were worth $2,580,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. New Millennium Group LLC purchased a new stake in shares of Novartis during the second quarter worth about $28,000. Lynx Investment Advisory purchased a new position in Novartis during the second quarter worth $29,000. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Novartis in the second quarter valued at $30,000. Richardson Financial Services Inc. bought a new stake in shares of Novartis in the 2nd quarter worth about $30,000. Finally, Beacon Capital Management LLC boosted its stake in shares of Novartis by 149.3% during the 1st quarter. Beacon Capital Management LLC now owns 354 shares of the company’s stock worth $34,000 after purchasing an additional 212 shares during the period. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Stock Performance

Shares of NYSE:NVS traded down $0.55 during midday trading on Wednesday, reaching $102.72. The company’s stock had a trading volume of 71,264 shares, compared to its average volume of 1,337,603. The firm has a market capitalization of $209.96 billion, a PE ratio of 11.99, a P/E/G ratio of 1.49 and a beta of 0.58. The stock has a fifty day moving average of $112.58 and a 200 day moving average of $110.10. Novartis AG has a twelve month low of $92.35 and a twelve month high of $120.92. 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 (NYSE:NVS) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.12. The company had revenue of $12.82 billion during the quarter, compared to analysts’ expectations of $12.62 billion. Novartis had a return on equity of 34.80% and a net margin of 35.96%. During the same period last year, the business earned $1.74 earnings per share. On average, equities analysts expect that Novartis AG will post 7.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on NVS shares. Bank of America lowered shares of Novartis from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $135.00 to $130.00 in a research report on Wednesday, September 11th. Jefferies Financial Group cut shares of Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. BMO Capital Markets raised their price objective on Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Erste Group Bank restated a “hold” rating on shares of Novartis in a report on Tuesday. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $121.00 price target (up from $119.00) on shares of Novartis in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $121.50.

About Novartis

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.