Novartis AG (NYSE:NVS) Stake Trimmed by Richard P Slaughter Associates Inc

Richard P Slaughter Associates Inc cut its position in shares of Novartis AG (NYSE:NVS) by 2.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,988 shares of the company’s stock after selling 443 shares during the quarter. Richard P Slaughter Associates Inc’s holdings in Novartis were worth $1,450,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Murphy Middleton Hinkle & Parker Inc. boosted its stake in shares of Novartis by 4.9% during the 4th quarter. Murphy Middleton Hinkle & Parker Inc. now owns 2,072 shares of the company’s stock worth $209,000 after acquiring an additional 97 shares in the last quarter. Pinnacle Bancorp Inc. boosted its position in Novartis by 2.8% during the fourth quarter. Pinnacle Bancorp Inc. now owns 3,641 shares of the company’s stock worth $368,000 after purchasing an additional 98 shares during the period. Optimum Investment Advisors grew its holdings in Novartis by 23.3% during the fourth quarter. Optimum Investment Advisors now owns 530 shares of the company’s stock valued at $54,000 after purchasing an additional 100 shares during the last quarter. Chesley Taft & Associates LLC boosted its stake in Novartis by 0.3% during the 4th quarter. Chesley Taft & Associates LLC now owns 33,062 shares of the company’s stock valued at $3,338,000 after purchasing an additional 100 shares during the period. Finally, Means Investment CO. Inc. grew its holdings in Novartis by 1.3% in the 4th quarter. Means Investment CO. Inc. now owns 8,074 shares of the company’s stock valued at $815,000 after buying an additional 103 shares during the last quarter. 13.12% of the stock is owned by hedge funds and other institutional investors.

Novartis Price Performance

Novartis stock traded up $0.69 on Thursday, reaching $105.63. The company’s stock had a trading volume of 929,565 shares, compared to its average volume of 1,479,683. Novartis AG has a twelve month low of $92.19 and a twelve month high of $108.78. The company has a market cap of $215.91 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 1.61 and a beta of 0.58. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.71 and a current ratio of 0.90. The business’s fifty day moving average price is $100.42 and its 200 day moving average price is $100.76.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.07. Novartis had a net margin of 31.33% and a return on equity of 32.15%. The firm had revenue of $11.83 billion for the quarter, compared to analyst estimates of $11.50 billion. Equities analysts expect that Novartis AG will post 7.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. The Goldman Sachs Group assumed coverage on Novartis in a report on Thursday, May 30th. They set a “buy” rating and a $120.00 price target for the company. BMO Capital Markets upped their price objective on shares of Novartis from $114.00 to $116.00 and gave the company a “market perform” rating in a research report on Wednesday, April 24th. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $116.67.

Novartis Company 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.