Eagle Global Advisors LLC Reduces Position in Novartis AG (NVS)

Eagle Global Advisors LLC cut its position in shares of Novartis AG (NYSE:NVS) by 3.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,821 shares of the company’s stock after selling 2,025 shares during the period. Eagle Global Advisors LLC’s holdings in Novartis AG were worth $4,659,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of NVS. Primecap Management Co. CA increased its position in shares of Novartis AG by 2.1% in the first quarter. Primecap Management Co. CA now owns 21,693,804 shares of the company’s stock worth $1,611,199,000 after buying an additional 446,976 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Novartis AG by 12.2% in the first quarter. Wells Fargo & Company MN now owns 9,100,801 shares of the company’s stock worth $675,917,000 after buying an additional 988,301 shares in the last quarter. Parnassus Investments CA increased its position in shares of Novartis AG by 89.4% in the first quarter. Parnassus Investments CA now owns 8,173,974 shares of the company’s stock worth $593,720,000 after buying an additional 3,858,632 shares in the last quarter. Bank of America Corp DE increased its position in shares of Novartis AG by 7.5% in the first quarter. Bank of America Corp DE now owns 7,328,730 shares of the company’s stock worth $544,304,000 after buying an additional 508,435 shares in the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of Novartis AG by 6.3% in the second quarter. Fisher Asset Management LLC now owns 6,505,935 shares of the company’s stock worth $543,050,000 after buying an additional 384,262 shares in the last quarter. Institutional investors own 11.16% of the company’s stock.

Novartis AG (NYSE NVS) opened at 83.86 on Tuesday. The firm has a market cap of $196.47 billion, a P/E ratio of 30.62 and a beta of 0.73. The firm’s 50-day moving average price is $84.10 and its 200 day moving average price is $78.88. Novartis AG has a one year low of $66.93 and a one year high of $86.90.

Novartis AG (NYSE:NVS) last released its earnings results on Tuesday, July 18th. The company reported $1.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.06. The firm had revenue of $12.24 billion for the quarter, compared to analysts’ expectations of $12.20 billion. Novartis AG had a return on equity of 15.51% and a net margin of 13.52%. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.23 EPS. On average, equities research analysts forecast that Novartis AG will post $4.73 EPS for the current year.

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A number of equities analysts have recently weighed in on NVS shares. Vetr downgraded Novartis AG from a “buy” rating to a “hold” rating and set a $78.32 target price on the stock. in a report on Tuesday, April 25th. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Novartis AG in a report on Thursday, June 22nd. BidaskClub upgraded Novartis AG from a “sell” rating to a “hold” rating in a report on Saturday, August 5th. Cowen and Company restated a “hold” rating on shares of Novartis AG in a report on Tuesday, July 18th. Finally, UBS AG restated a “neutral” rating on shares of Novartis AG in a report on Tuesday, May 30th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $83.56.

In other news, major shareholder Bioventures Ltd Novartis bought 266,667 shares of the business’s stock in a transaction on Wednesday, July 5th. The shares were purchased at an average price of $15.00 per share, for a total transaction of $4,000,005.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.01% of the company’s stock.

Novartis AG Company Profile

Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.

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