Novartis AG (NYSE:NVS) is John G Ullman & Associates Inc.’s 8th Largest Position

John G Ullman & Associates Inc. trimmed its stake in Novartis AG (NYSE:NVS) by 0.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 179,187 shares of the company’s stock after selling 1,713 shares during the quarter. Novartis accounts for 2.7% of John G Ullman & Associates Inc.’s portfolio, making the stock its 8th largest position. John G Ullman & Associates Inc.’s holdings in Novartis were worth $17,333,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Wellington Management Group LLP grew its holdings in Novartis by 1.2% during the fourth quarter. Wellington Management Group LLP now owns 4,746,599 shares of the company’s stock valued at $479,264,000 after purchasing an additional 54,683 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Novartis by 0.6% during the first quarter. Principal Financial Group Inc. now owns 2,523,334 shares of the company’s stock valued at $244,082,000 after purchasing an additional 14,686 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Novartis by 2.4% during the fourth quarter. Fisher Asset Management LLC now owns 1,442,003 shares of the company’s stock valued at $145,599,000 after purchasing an additional 33,791 shares during the last quarter. Natixis Advisors L.P. grew its holdings in Novartis by 0.4% during the fourth quarter. Natixis Advisors L.P. now owns 931,127 shares of the company’s stock valued at $94,014,000 after purchasing an additional 3,270 shares during the last quarter. Finally, Chevy Chase Trust Holdings LLC grew its holdings in Novartis by 3.6% during the first quarter. Chevy Chase Trust Holdings LLC now owns 845,001 shares of the company’s stock valued at $81,737,000 after purchasing an additional 29,197 shares during the last quarter. 13.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NVS has been the topic of several research analyst reports. Barclays upgraded shares of Novartis to a “strong sell” rating in a research note on Monday, June 24th. The Goldman Sachs Group initiated coverage on shares of Novartis in a research note on Thursday, May 30th. They issued a “buy” rating and a $120.00 price objective on the stock. Jefferies Financial Group raised their price objective on shares of Novartis from $121.00 to $122.50 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Finally, BMO Capital Markets raised their price objective on shares of Novartis from $114.00 to $116.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $118.13.

Novartis Trading Up 0.5 %

NYSE:NVS traded up $0.57 on Thursday, hitting $110.51. 1,997,848 shares of the stock were exchanged, compared to its average volume of 1,465,404. The stock has a market capitalization of $225.88 billion, a price-to-earnings ratio of 14.91, a P/E/G ratio of 1.66 and a beta of 0.57. Novartis AG has a 52 week low of $92.19 and a 52 week high of $111.71. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.71 and a current ratio of 0.90. The company’s 50-day moving average price is $104.12 and its 200 day moving average price is $101.80.

Novartis (NYSE:NVS) last posted its earnings results on Tuesday, April 23rd. The company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.07. Novartis had a return on equity of 32.15% and a net margin of 31.33%. The company had revenue of $11.83 billion during the quarter, compared to analyst estimates of $11.50 billion. On average, equities research analysts forecast that Novartis AG will post 7.28 earnings per share for the current 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.