Meeder Asset Management Inc. reduced its position in Novartis AG (NYSE:NVS – Get Rating) by 42.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 331 shares of the company’s stock after selling 242 shares during the period. Meeder Asset Management Inc.’s holdings in Novartis were worth $28,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. TCI Wealth Advisors Inc. boosted its holdings in shares of Novartis by 200.0% in the second quarter. TCI Wealth Advisors Inc. now owns 300 shares of the company’s stock valued at $25,000 after acquiring an additional 200 shares during the period. Bogart Wealth LLC boosted its stake in Novartis by 168.8% during the 2nd quarter. Bogart Wealth LLC now owns 414 shares of the company’s stock worth $35,000 after purchasing an additional 260 shares during the period. Herold Advisors Inc. purchased a new position in Novartis during the 1st quarter worth $43,000. Crewe Advisors LLC increased its stake in Novartis by 44.2% in the second quarter. Crewe Advisors LLC now owns 662 shares of the company’s stock valued at $56,000 after purchasing an additional 203 shares during the period. Finally, Charter Oak Capital Management LLC purchased a new stake in shares of Novartis in the second quarter valued at about $88,000. 9.14% of the stock is owned by hedge funds and other institutional investors.
Novartis Stock Down 0.7 %
NVS opened at $83.45 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.07 and a current ratio of 1.31. The company has a market cap of $184.64 billion, a price-to-earnings ratio of 8.58, a PEG ratio of 2.43 and a beta of 0.55. Novartis AG has a one year low of $74.09 and a one year high of $94.26. The business’s fifty day moving average is $78.96 and its two-hundred day moving average is $83.13.
Wall Street Analyst Weigh In
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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