Reynders McVeigh Capital Management LLC Decreases Holdings in Novartis AG (NVS)
Reynders McVeigh Capital Management LLC trimmed its holdings in shares of Novartis AG (NYSE:NVS) by 4.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 293,915 shares of the company’s stock after selling 12,569 shares during the period. Novartis makes up 3.2% of Reynders McVeigh Capital Management LLC’s holdings, making the stock its 6th biggest holding. Reynders McVeigh Capital Management LLC’s holdings in Novartis were worth $24,677,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Cetera Investment Advisers acquired a new stake in shares of Novartis during the second quarter worth about $241,000. Bartlett & Co. LLC increased its position in shares of Novartis by 1.6% during the third quarter. Bartlett & Co. LLC now owns 473,081 shares of the company’s stock worth $40,614,000 after purchasing an additional 7,249 shares in the last quarter. Capital Bank & Trust Co increased its position in shares of Novartis by 5.5% during the third quarter. Capital Bank & Trust Co now owns 138,207 shares of the company’s stock worth $11,865,000 after purchasing an additional 7,201 shares in the last quarter. Atlantic Trust Group LLC increased its position in shares of Novartis by 54.2% during the third quarter. Atlantic Trust Group LLC now owns 72,427 shares of the company’s stock worth $6,218,000 after purchasing an additional 25,452 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new stake in shares of Novartis during the third quarter worth about $1,245,000. 11.09% of the stock is owned by institutional investors.
A number of analysts have recently commented on the company. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Novartis in a research report on Thursday, January 18th. UBS Group reiterated a “neutral” rating on shares of Novartis in a research report on Monday, January 15th. Leerink Swann lifted their target price on Novartis from $89.00 to $91.00 and gave the stock a “market perform” rating in a research report on Monday, October 23rd. Zacks Investment Research cut Novartis from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Finally, Nord/LB reiterated a “neutral” rating on shares of Novartis in a research report on Tuesday, January 2nd. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. Novartis has an average rating of “Hold” and an average target price of $85.32.
Novartis (NYSE:NVS) last issued its quarterly earnings results on Wednesday, January 24th. The company reported $1.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.04. The firm had revenue of $12.92 billion for the quarter, compared to analysts’ expectations of $12.65 billion. Novartis had a return on equity of 16.03% and a net margin of 15.69%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.14 EPS. equities analysts expect that Novartis AG will post 5.36 earnings per share for the current fiscal year.
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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