Boston Common Asset Management LLC Sells 9,399 Shares of Novartis AG (NYSE:NVS)

Boston Common Asset Management LLC cut its stake in shares of Novartis AG (NYSE:NVS) by 5.7% in the fourth quarter, HoldingsChannel reports. The fund owned 156,774 shares of the company’s stock after selling 9,399 shares during the period. Boston Common Asset Management LLC’s holdings in Novartis were worth $15,256,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Steigerwald Gordon & Koch Inc. boosted its position in shares of Novartis by 4.8% in the third quarter. Steigerwald Gordon & Koch Inc. now owns 2,091 shares of the company’s stock worth $241,000 after purchasing an additional 95 shares during the period. Centaurus Financial Inc. lifted its stake in shares of Novartis by 1.7% during the 3rd quarter. Centaurus Financial Inc. now owns 5,728 shares of the company’s stock valued at $659,000 after buying an additional 98 shares in the last quarter. FLC Capital Advisors boosted its holdings in Novartis by 4.4% in the 3rd quarter. FLC Capital Advisors now owns 2,366 shares of the company’s stock worth $272,000 after buying an additional 100 shares during the period. Clear Harbor Asset Management LLC increased its stake in Novartis by 2.3% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 4,423 shares of the company’s stock worth $509,000 after buying an additional 100 shares in the last quarter. Finally, Allen Wealth Management LLC raised its holdings in Novartis by 1.8% during the third quarter. Allen Wealth Management LLC now owns 5,788 shares of the company’s stock valued at $666,000 after acquiring an additional 100 shares during the period. 13.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on NVS shares. HSBC lowered Novartis from a “hold” rating to a “reduce” rating in a research note on Wednesday, December 4th. Erste Group Bank reaffirmed a “hold” rating on shares of Novartis in a report on Tuesday, November 19th. Finally, BMO Capital Markets boosted their target price on shares of Novartis from $118.00 to $120.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Two analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Novartis currently has an average rating of “Hold” and an average price target of $121.50.

Novartis Price Performance

Shares of NVS traded up $0.26 during mid-day trading on Friday, hitting $98.12. 241,996 shares of the stock were exchanged, compared to its average volume of 1,475,096. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.90 and a current ratio of 1.11. The company has a market cap of $200.55 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 1.36 and a beta of 0.57. Novartis AG has a 52-week low of $92.35 and a 52-week high of $120.92. The firm has a 50-day moving average of $100.97 and a two-hundred day moving average of $109.12.

Novartis (NYSE:NVS) last released its quarterly earnings data on Tuesday, October 29th. The company reported $2.06 EPS for the quarter, beating the consensus estimate of $1.94 by $0.12. Novartis had a net margin of 35.96% and a return on equity of 34.80%. The business had revenue of $12.82 billion during the quarter, compared to analyst estimates of $12.62 billion. During the same quarter last year, the business earned $1.74 earnings per share. On average, equities analysts predict that Novartis AG will post 7.63 earnings per share for the current year.

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.