Sandy Spring Bank lessened its holdings in shares of Novartis AG (NYSE:NVS) by 3.1% during the second quarter, Holdings Channel.com reports. The firm owned 48,518 shares of the company’s stock after selling 1,561 shares during the quarter. Sandy Spring Bank’s holdings in Novartis were worth $4,430,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Advisory Services Network LLC raised its stake in Novartis by 5.6% during the second quarter. Advisory Services Network LLC now owns 16,297 shares of the company’s stock worth $1,488,000 after buying an additional 861 shares during the last quarter. Walter & Keenan Financial Consulting Co. MI ADV raised its stake in Novartis by 18.2% during the second quarter. Walter & Keenan Financial Consulting Co. MI ADV now owns 7,474 shares of the company’s stock worth $682,000 after buying an additional 1,150 shares during the last quarter. Tdam USA Inc. raised its stake in Novartis by 9.1% during the second quarter. Tdam USA Inc. now owns 4,557 shares of the company’s stock worth $416,000 after buying an additional 381 shares during the last quarter. Charter Trust Co. raised its stake in Novartis by 1.4% during the second quarter. Charter Trust Co. now owns 11,104 shares of the company’s stock worth $1,014,000 after buying an additional 151 shares during the last quarter. Finally, Wedbush Securities Inc. raised its stake in Novartis by 7.8% during the second quarter. Wedbush Securities Inc. now owns 17,955 shares of the company’s stock worth $1,639,000 after buying an additional 1,300 shares during the last quarter. Institutional investors own 11.87% of the company’s stock.

NVS traded down $1.66 during midday trading on Wednesday, hitting $89.46. The company had a trading volume of 45,431 shares, compared to its average volume of 2,395,911. Novartis AG has a 52 week low of $71.33 and a 52 week high of $95.00. The company has a quick ratio of 0.74, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. The stock has a market cap of $209.06 billion, a P/E ratio of 17.61, a price-to-earnings-growth ratio of 2.07 and a beta of 0.58. The stock’s 50 day simple moving average is $91.40.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Thursday, July 18th. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.14. Novartis had a net margin of 23.27% and a return on equity of 18.55%. The firm had revenue of $11.76 billion during the quarter, compared to the consensus estimate of $11.45 billion. During the same period in the previous year, the firm posted $1.29 earnings per share. The business’s revenue was up 3.7% compared to the same quarter last year. Sell-side analysts forecast that Novartis AG will post 5.06 EPS for the current fiscal year.

NVS has been the subject of a number of analyst reports. JPMorgan Chase & Co. reissued a “sell” rating on shares of Novartis in a research note on Friday, July 5th. Argus lifted their target price on shares of Novartis to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. They noted that the move was a valuation call. Guggenheim raised shares of Novartis from a “neutral” rating to a “buy” rating and set a $79.16 target price for the company in a research note on Wednesday, April 24th. Kepler Capital Markets downgraded shares of Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Liberum Capital raised shares of Novartis from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. Four research analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $90.63.

Novartis Company 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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