Eqis Capital Management Inc. Cuts Stock Holdings in Novartis AG (NYSE:NVS)

Eqis Capital Management Inc. decreased its holdings in shares of Novartis AG (NYSE:NVS) by 49.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,942 shares of the company’s stock after selling 9,644 shares during the quarter. Eqis Capital Management Inc.’s holdings in Novartis were worth $908,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in NVS. Old Port Advisors raised its position in Novartis by 4.5% during the second quarter. Old Port Advisors now owns 2,722 shares of the company’s stock worth $252,000 after acquiring an additional 116 shares in the last quarter. Stratos Wealth Partners LTD. raised its position in Novartis by 1.2% during the first quarter. Stratos Wealth Partners LTD. now owns 10,631 shares of the company’s stock worth $1,022,000 after acquiring an additional 125 shares in the last quarter. Legacy Bridge LLC raised its position in shares of Novartis by 7.5% in the first quarter. Legacy Bridge LLC now owns 1,844 shares of the company’s stock valued at $177,000 after purchasing an additional 128 shares during the period. Archford Capital Strategies LLC raised its position in shares of Novartis by 5.7% in the first quarter. Archford Capital Strategies LLC now owns 2,447 shares of the company’s stock valued at $235,000 after purchasing an additional 131 shares during the period. Finally, Cox Capital Mgt LLC raised its position in shares of Novartis by 0.7% in the first quarter. Cox Capital Mgt LLC now owns 19,645 shares of the company’s stock valued at $1,889,000 after purchasing an additional 134 shares during the period. Institutional investors and hedge funds own 11.87% of the company’s stock.

NYSE:NVS opened at $88.58 on Friday. The firm has a market cap of $209.06 billion, a price-to-earnings ratio of 17.40, a P/E/G ratio of 2.05 and a beta of 0.58. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.74 and a current ratio of 0.94. Novartis AG has a 52 week low of $71.40 and a 52 week high of $95.00. The firm’s 50-day simple moving average is $91.27 and its 200 day simple moving average is $88.58.

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

Several equities analysts have recently weighed in on NVS shares. Guggenheim raised shares of Novartis from a “neutral” rating to a “buy” rating and set a $79.16 price objective on the stock in a research report on Wednesday, April 24th. JPMorgan Chase & Co. reissued a “sell” rating on shares of Novartis in a research report on Friday, July 5th. Zacks Investment Research lowered shares of Novartis from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a research report on Friday, July 19th. Kepler Capital Markets lowered shares of Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Finally, Argus increased their price objective on shares of Novartis to $105.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. They noted that the move was a valuation call. Four investment analysts have rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $90.63.

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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