Bryn Mawr Capital Management LLC Has $1.39 Million Stock Holdings in Novartis AG (NYSE:NVS)

Bryn Mawr Capital Management LLC cut its stake in Novartis AG (NYSE:NVS) by 3.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,486 shares of the company’s stock after selling 398 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Novartis were worth $1,392,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVS. Brighton Jones LLC raised its holdings in Novartis by 76.5% in the 4th quarter. Brighton Jones LLC now owns 6,153 shares of the company’s stock valued at $599,000 after acquiring an additional 2,666 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Novartis by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 165,442 shares of the company’s stock valued at $16,099,000 after acquiring an additional 8,186 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Novartis in the 4th quarter valued at $225,000. Independent Advisor Alliance raised its holdings in Novartis by 23.4% in the 4th quarter. Independent Advisor Alliance now owns 4,362 shares of the company’s stock valued at $424,000 after acquiring an additional 826 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its holdings in Novartis by 12.4% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 37,063 shares of the company’s stock valued at $3,607,000 after acquiring an additional 4,091 shares in the last quarter. 13.12% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, BNP Paribas raised Novartis to a “strong-buy” rating in a report on Tuesday, April 15th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, one has given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $123.67.

Novartis Trading Down 1.1%

Shares of NVS stock opened at $119.66 on Wednesday. The firm has a market capitalization of $252.78 billion, a P/E ratio of 18.70, a P/E/G ratio of 1.64 and a beta of 0.59. Novartis AG has a twelve month low of $96.06 and a twelve month high of $124.83. The company has a quick ratio of 0.61, a current ratio of 0.79 and a debt-to-equity ratio of 0.56. The stock’s fifty day simple moving average is $116.35 and its 200 day simple moving average is $110.14.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.16. The business had revenue of $13.23 billion for the quarter, compared to analyst estimates of $12.92 billion. Novartis had a return on equity of 39.44% and a net margin of 24.70%. Novartis’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.80 EPS. As a group, sell-side analysts predict that Novartis AG will post 8.45 EPS for the current fiscal year.

About Novartis

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.