Neuberger Berman Group LLC cut its stake in shares of Novartis AG (NYSE:NVS – Get Rating) by 5.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 822,183 shares of the company’s stock after selling 44,936 shares during the quarter. Neuberger Berman Group LLC’s holdings in Novartis were worth $72,146,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently bought and sold shares of the stock. Fisher Asset Management LLC boosted its holdings in Novartis by 4.7% during the 1st quarter. Fisher Asset Management LLC now owns 10,871,033 shares of the company’s stock valued at $953,933,000 after acquiring an additional 486,367 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Novartis by 4.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,399,213 shares of the company’s stock worth $386,031,000 after buying an additional 193,519 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Novartis by 12.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,357,362 shares of the company’s stock worth $382,359,000 after buying an additional 487,226 shares during the period. Wellington Management Group LLP lifted its holdings in Novartis by 0.9% in the 1st quarter. Wellington Management Group LLP now owns 4,131,935 shares of the company’s stock worth $362,577,000 after buying an additional 35,483 shares during the period. Finally, Cullen Capital Management LLC lifted its holdings in Novartis by 17.6% in the 1st quarter. Cullen Capital Management LLC now owns 3,295,271 shares of the company’s stock worth $289,160,000 after buying an additional 492,643 shares during the period. 9.14% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
NVS has been the subject of several research analyst reports. Credit Suisse Group cut Novartis from a “neutral” rating to an “underperform” rating in a report on Thursday. JPMorgan Chase & Co. increased their price objective on Novartis from CHF 80 to CHF 81 and gave the stock an “underweight” rating in a report on Wednesday, July 20th. Berenberg Bank cut Novartis from a “buy” rating to a “hold” rating in a research note on Wednesday. Kepler Capital Markets upgraded Novartis from a “hold” rating to a “buy” rating and set a CHF 90 target price for the company in a research note on Wednesday, September 7th. Finally, Oppenheimer cut Novartis from an “outperform” rating to a “market perform” rating in a research note on Friday, June 3rd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $87.00.
Novartis Stock Down 0.1 %
Novartis (NYSE:NVS – Get Rating) last posted its earnings results on Monday, July 18th. The company reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.04. The business had revenue of $12.78 billion during the quarter, compared to analyst estimates of $12.78 billion. Novartis had a return on equity of 21.88% and a net margin of 44.31%. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.64 EPS. On average, research analysts forecast that Novartis AG will post 6.06 EPS for the current fiscal year.
Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company operates through two segments, Innovative Medicines and Sandoz. The Innovative Medicines segment offers prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology, dermatology, respiratory, cardiovascular, renal, and metabolism medicine products.
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