Sei Investments Co. Reduces Holdings in Novartis AG (NYSE:NVS)

Sei Investments Co. trimmed its stake in Novartis AG (NYSE:NVS) by 0.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 569,952 shares of the company’s stock after selling 2,937 shares during the period. Sei Investments Co.’s holdings in Novartis were worth $60,677,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of NVS. Aveo Capital Partners LLC lifted its position in shares of Novartis by 12.3% in the 4th quarter. Aveo Capital Partners LLC now owns 2,509 shares of the company’s stock worth $253,000 after purchasing an additional 275 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Novartis by 1,345.3% in the 4th quarter. BNP Paribas Financial Markets now owns 8,036 shares of the company’s stock worth $811,000 after acquiring an additional 7,480 shares in the last quarter. SageView Advisory Group LLC increased its stake in shares of Novartis by 30.6% in the 4th quarter. SageView Advisory Group LLC now owns 3,067 shares of the company’s stock worth $331,000 after acquiring an additional 718 shares in the last quarter. Johnson Financial Group Inc. increased its stake in shares of Novartis by 1,380.6% in the 4th quarter. Johnson Financial Group Inc. now owns 459 shares of the company’s stock worth $46,000 after acquiring an additional 428 shares in the last quarter. Finally, Mitchell Sinkler & Starr PA increased its stake in shares of Novartis by 79.4% in the 4th quarter. Mitchell Sinkler & Starr PA now owns 7,728 shares of the company’s stock worth $780,000 after acquiring an additional 3,420 shares in the last quarter. 13.12% of the stock is owned by hedge funds and other institutional investors.

Novartis Trading Down 0.0 %

Shares of Novartis stock opened at $115.94 on Monday. The company has a market capitalization of $236.98 billion, a P/E ratio of 15.65, a P/E/G ratio of 1.75 and a beta of 0.57. The company has a fifty day moving average of $114.22 and a 200 day moving average of $105.50. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.72 and a current ratio of 0.93. Novartis AG has a fifty-two week low of $92.19 and a fifty-two week high of $120.92.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Thursday, July 18th. The company reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.10. Novartis had a return on equity of 34.56% and a net margin of 33.76%. The firm had revenue of $12.87 billion during the quarter, compared to analyst estimates of $12.24 billion. During the same quarter last year, the business posted $1.83 earnings per share. On average, sell-side analysts anticipate that Novartis AG will post 7.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on NVS shares. Bank of America lowered shares of Novartis from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $135.00 to $130.00 in a research note on Wednesday, September 11th. Barclays upgraded shares of Novartis to a “strong sell” rating in a research note on Monday, June 24th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Novartis in a research note on Friday, July 19th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $121.00 target price (up previously from $119.00) on shares of Novartis in a research report on Thursday, September 5th. Finally, Jefferies Financial Group downgraded shares of Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $120.70.

Novartis Profile

Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.