Novartis AG (NYSE:NVS) Stake Lowered by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. cut its position in shares of Novartis AG (NYSE:NVS) by 0.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 228,994 shares of the company’s stock after selling 907 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Novartis were worth $22,283,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Nwam LLC lifted its stake in Novartis by 4.6% in the fourth quarter. Nwam LLC now owns 4,255 shares of the company’s stock valued at $414,000 after acquiring an additional 186 shares during the last quarter. Whipplewood Advisors LLC bought a new position in shares of Novartis during the 4th quarter valued at $146,000. NewEdge Wealth LLC lifted its stake in shares of Novartis by 8.3% in the 4th quarter. NewEdge Wealth LLC now owns 424,648 shares of the company’s stock valued at $41,322,000 after purchasing an additional 32,398 shares during the last quarter. Bryn Mawr Capital Management LLC boosted its holdings in Novartis by 0.8% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 12,884 shares of the company’s stock worth $1,254,000 after purchasing an additional 100 shares in the last quarter. Finally, Argonautica Private Wealth Management Inc. raised its holdings in Novartis by 8.3% during the fourth quarter. Argonautica Private Wealth Management Inc. now owns 3,596 shares of the company’s stock valued at $350,000 after buying an additional 277 shares in the last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Trading Down 1.5 %

Shares of NVS stock opened at $107.95 on Thursday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.84 and a current ratio of 1.04. The firm has a fifty day moving average of $102.12 and a 200-day moving average of $108.08. Novartis AG has a 52-week low of $92.35 and a 52-week high of $120.92. The stock has a market cap of $220.64 billion, a price-to-earnings ratio of 18.36, a P/E/G ratio of 1.70 and a beta of 0.58.

Novartis (NYSE:NVS) last announced its quarterly earnings results on Friday, January 31st. The company reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.18. Novartis had a net margin of 23.56% and a return on equity of 37.24%. On average, equities research analysts forecast that Novartis AG will post 8.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on NVS shares. Erste Group Bank reissued a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. BMO Capital Markets boosted their price objective on shares of Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Barclays reiterated an “underweight” rating on shares of Novartis in a research note on Monday, February 3rd. HSBC cut shares of Novartis from a “hold” rating to a “reduce” rating in a report on Wednesday, December 4th. Finally, Morgan Stanley initiated coverage on Novartis in a research note on Wednesday, February 12th. They issued an “underweight” rating on the stock. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Novartis has an average rating of “Hold” and an average target price of $123.38.

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.