Highland Capital Management LLC Sells 132 Shares of Novartis AG (NYSE:NVS)

Highland Capital Management LLC cut its position in Novartis AG (NYSE:NVS) by 0.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,512 shares of the company’s stock after selling 132 shares during the quarter. Highland Capital Management LLC’s holdings in Novartis were worth $1,899,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in shares of Novartis by 23.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,407,692 shares of the company’s stock worth $788,626,000 after purchasing an additional 1,389,610 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Novartis by 0.6% in the first quarter. Janus Henderson Group PLC now owns 2,568,728 shares of the company’s stock valued at $248,473,000 after buying an additional 16,015 shares during the last quarter. Mondrian Investment Partners LTD boosted its stake in shares of Novartis by 40.1% during the 1st quarter. Mondrian Investment Partners LTD now owns 2,065,739 shares of the company’s stock worth $199,819,000 after acquiring an additional 590,830 shares during the period. Magnetar Financial LLC increased its holdings in shares of Novartis by 53.7% during the 1st quarter. Magnetar Financial LLC now owns 1,906,046 shares of the company’s stock worth $184,372,000 after acquiring an additional 666,104 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Novartis by 191.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,904,664 shares of the company’s stock valued at $202,771,000 after acquiring an additional 1,250,318 shares during the period. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Novartis Stock Performance

NVS opened at $113.79 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.72 and a current ratio of 0.93. Novartis AG has a 52-week low of $92.19 and a 52-week high of $120.92. The firm has a market cap of $232.59 billion, a P/E ratio of 15.36, a price-to-earnings-growth ratio of 1.66 and a beta of 0.57. The business’s fifty day moving average is $116.42 and its 200-day moving average is $108.55.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on NVS shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Novartis in a research report on Friday, July 19th. Bank of America cut shares of Novartis from a “buy” rating to a “neutral” rating and lowered their price target for the company from $135.00 to $130.00 in a report on Wednesday, September 11th. The Goldman Sachs Group restated a “neutral” rating and set a $121.00 price objective (up previously from $119.00) on shares of Novartis in a report on Thursday, September 5th. Finally, Jefferies Financial Group lowered Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $120.70.

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.