Scharf Investments LLC lessened its stake in Novartis AG (NYSE:NVS) by 3.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 773,322 shares of the company’s stock after selling 26,660 shares during the quarter. Novartis comprises approximately 2.1% of Scharf Investments LLC’s holdings, making the stock its 25th biggest holding. Scharf Investments LLC’s holdings in Novartis were worth $58,429,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Loomis Sayles & Co. L P boosted its holdings in shares of Novartis by 12.8% in the 1st quarter. Loomis Sayles & Co. L P now owns 7,802,086 shares of the company’s stock valued at $630,799,000 after purchasing an additional 887,198 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Novartis by 4.5% in the 2nd quarter. Fisher Asset Management LLC now owns 7,325,261 shares of the company’s stock valued at $553,350,000 after purchasing an additional 318,787 shares during the last quarter. Boston Partners boosted its holdings in shares of Novartis by 106.0% in the 2nd quarter. Boston Partners now owns 5,606,630 shares of the company’s stock valued at $423,525,000 after purchasing an additional 2,885,436 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Novartis by 2.3% in the 1st quarter. Northern Trust Corp now owns 4,089,571 shares of the company’s stock valued at $330,642,000 after purchasing an additional 90,010 shares during the last quarter. Finally, Charles Schwab Investment Advisory Inc. acquired a new position in shares of Novartis in the 2nd quarter valued at $297,538,000. Institutional investors own 11.16% of the company’s stock.
In related news, major shareholder Bioventures Ltd Novartis sold 12,460 shares of Novartis stock in a transaction on Wednesday, July 25th. The shares were sold at an average price of $3.84, for a total transaction of $47,846.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 81,322 shares of company stock worth $290,796 in the last ninety days. 0.01% of the stock is currently owned by insiders.
A number of brokerages have recently commented on NVS. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Novartis in a research note on Thursday, May 17th. Zacks Investment Research downgraded shares of Novartis from a “hold” rating to a “sell” rating in a research note on Wednesday, August 29th. HSBC downgraded shares of Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, May 29th. Credit Suisse Group raised shares of Novartis from an “underperform” rating to a “neutral” rating in a research note on Friday, May 25th. Finally, Barclays raised shares of Novartis from an “underweight” rating to an “equal weight” rating in a research note on Thursday, July 19th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. Novartis has a consensus rating of “Hold” and a consensus price target of $93.50.
Shares of NVS stock opened at $82.56 on Wednesday. Novartis AG has a 52 week low of $72.30 and a 52 week high of $94.19. The company has a current ratio of 1.15, a quick ratio of 0.89 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $192.37 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 1.80 and a beta of 0.85.
Novartis (NYSE:NVS) last issued its earnings results on Wednesday, July 18th. The company reported $1.29 EPS for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.02. Novartis had a net margin of 27.06% and a return on equity of 16.05%. The business had revenue of $13.16 billion for the quarter, compared to the consensus estimate of $12.93 billion. During the same quarter last year, the firm posted $1.22 EPS. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. equities analysts expect that Novartis AG will post 5.17 earnings per share for the current year.
Novartis AG researches, develops, manufactures, and markets a range of healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines to enhance health outcomes for patients and health-care providers. This segment also commercializes products in the areas of oncology and rare diseases, ophthalmology, immunology and dermatology, neuroscience, respiratory, cardio-metabolic, and established medicines.
Read More: How Do Tariffs Affect Trade Balances?
Want to see what other hedge funds are holding NVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Novartis AG (NYSE:NVS).
Receive News & Ratings for Novartis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novartis and related companies with MarketBeat.com's FREE daily email newsletter.