Novartis AG (NYSE:NVS) Shares Sold by Tealwood Asset Management Inc.

Tealwood Asset Management Inc. reduced its stake in Novartis AG (NYSE:NVS) by 1.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,918 shares of the company’s stock after selling 302 shares during the period. Novartis accounts for about 1.2% of Tealwood Asset Management Inc.’s investment portfolio, making the stock its 18th biggest holding. Tealwood Asset Management Inc.’s holdings in Novartis were worth $2,751,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NVS. Private Ocean LLC acquired a new position in shares of Novartis during the first quarter worth approximately $25,000. Richardson Financial Services Inc. acquired a new position in shares of Novartis during the fourth quarter worth approximately $26,000. Clearstead Trust LLC boosted its position in shares of Novartis by 73.5% during the first quarter. Clearstead Trust LLC now owns 269 shares of the company’s stock worth $26,000 after buying an additional 114 shares during the period. New Millennium Group LLC acquired a new position in shares of Novartis during the second quarter worth approximately $28,000. Finally, Lynx Investment Advisory acquired a new position in shares of Novartis during the second quarter worth approximately $29,000. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Novartis Price Performance

Shares of NYSE NVS traded down $0.05 during trading on Tuesday, hitting $113.81. The company had a trading volume of 137,799 shares, compared to its average volume of 1,361,198. The company has a market cap of $232.63 billion, a P/E ratio of 15.37, a PEG ratio of 1.71 and a beta of 0.57. Novartis AG has a 52 week low of $92.19 and a 52 week high of $120.92. The business’s 50-day moving average is $115.43 and its 200 day moving average is $106.68. 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 (NYSE:NVS) last posted its quarterly earnings results on Thursday, July 18th. The company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.10. Novartis had a return on equity of 34.56% and a net margin of 33.76%. The company had revenue of $12.87 billion for the quarter, compared to analysts’ expectations of $12.24 billion. During the same quarter in the prior year, the company earned $1.83 earnings per share. Equities research analysts predict that Novartis AG will post 7.5 earnings per share for the current fiscal year.

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.