Lazard Asset Management LLC reduced its position in Novartis AG (NYSE:NVS – Get Rating) by 99.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,583 shares of the company’s stock after selling 1,108,040 shares during the quarter. Lazard Asset Management LLC’s holdings in Novartis were worth $978,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. TCI Wealth Advisors Inc. raised its stake in Novartis by 200.0% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 300 shares of the company’s stock valued at $25,000 after purchasing an additional 200 shares during the last quarter. Bogart Wealth LLC increased its stake in shares of Novartis by 168.8% in the 2nd quarter. Bogart Wealth LLC now owns 414 shares of the company’s stock worth $35,000 after acquiring an additional 260 shares during the last quarter. Herold Advisors Inc. acquired a new stake in shares of Novartis in the 1st quarter worth $43,000. Curi Wealth Management LLC acquired a new stake in shares of Novartis in the 2nd quarter worth $46,000. Finally, Crewe Advisors LLC increased its stake in shares of Novartis by 44.2% in the 2nd quarter. Crewe Advisors LLC now owns 662 shares of the company’s stock worth $56,000 after acquiring an additional 203 shares during the last quarter. 9.14% of the stock is owned by institutional investors and hedge funds.
Novartis Stock Performance
Shares of Novartis stock opened at $83.46 on Friday. The business has a 50-day moving average of $79.14 and a 200 day moving average of $83.11. Novartis AG has a 12 month low of $74.09 and a 12 month high of $94.26. The stock has a market capitalization of $184.66 billion, a price-to-earnings ratio of 8.58, a price-to-earnings-growth ratio of 2.42 and a beta of 0.55. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.31 and a quick ratio of 1.07.
Wall Street Analysts Forecast Growth
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.
- Get a free copy of the StockNews.com research report on Novartis (NVS)
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