Garland Capital Management Inc. Reduces Holdings in Novartis AG (NYSE:NVS)

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Garland Capital Management Inc. trimmed its position in shares of Novartis AG (NYSE:NVS) by 1.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,405 shares of the company’s stock after selling 535 shares during the quarter. Novartis accounts for approximately 3.4% of Garland Capital Management Inc.’s investment portfolio, making the stock its 16th largest position. Garland Capital Management Inc.’s holdings in Novartis were worth $4,728,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NVS. Douglass Winthrop Advisors LLC boosted its stake in shares of Novartis by 1.9% during the third quarter. Douglass Winthrop Advisors LLC now owns 15,282 shares of the company’s stock valued at $1,328,000 after purchasing an additional 287 shares during the period. Trust Co. of Toledo NA OH boosted its stake in shares of Novartis by 2.9% during the third quarter. Trust Co. of Toledo NA OH now owns 26,189 shares of the company’s stock valued at $2,275,000 after purchasing an additional 731 shares during the period. Bangor Savings Bank purchased a new stake in shares of Novartis during the third quarter valued at $212,000. Courier Capital LLC boosted its stake in shares of Novartis by 30.1% during the third quarter. Courier Capital LLC now owns 5,397 shares of the company’s stock valued at $460,000 after purchasing an additional 1,250 shares during the period. Finally, Grassi Investment Management boosted its stake in shares of Novartis by 6.2% during the third quarter. Grassi Investment Management now owns 76,431 shares of the company’s stock valued at $6,642,000 after purchasing an additional 4,460 shares during the period. 11.19% of the stock is owned by institutional investors.

Several analysts recently weighed in on NVS shares. Kepler Capital Markets downgraded Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Zacks Investment Research downgraded Novartis from a “buy” rating to a “hold” rating and set a $100.00 price objective for the company. in a report on Friday, July 19th. ValuEngine downgraded Novartis from a “hold” rating to a “sell” rating in a report on Thursday, September 12th. Jefferies Financial Group restated a “buy” rating on shares of Novartis in a report on Thursday, August 29th. Finally, JPMorgan Chase & Co. restated a “sell” rating on shares of Novartis in a report on Friday, July 5th. Five analysts have rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $93.29.

Shares of NVS stock traded up $0.22 on Thursday, hitting $85.91. The stock had a trading volume of 1,857,479 shares, compared to its average volume of 1,866,742. The company has a quick ratio of 0.74, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. The business has a 50 day moving average price of $87.80 and a 200 day moving average price of $87.98. The company has a market cap of $196.38 billion, a PE ratio of 16.88, a P/E/G ratio of 2.30 and a beta of 0.59. Novartis AG has a one year low of $71.86 and a one year high of $95.00.

Novartis (NYSE:NVS) last released its quarterly earnings data on Thursday, July 18th. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.14. The firm had revenue of $11.76 billion during the quarter, compared to the consensus estimate of $11.45 billion. Novartis had a return on equity of 18.55% and a net margin of 23.27%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.29 earnings per share. Equities research analysts expect that Novartis AG will post 5.15 EPS for the current year.

Novartis Profile

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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