Telos Capital Management Inc. Has $3.07 Million Stake in Novartis AG (NYSE:NVS)

Telos Capital Management Inc. trimmed its stake in shares of Novartis AG (NYSE:NVS) by 1.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,647 shares of the company’s stock after selling 430 shares during the quarter. Telos Capital Management Inc.’s holdings in Novartis were worth $3,065,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Raymond James & Associates raised its position in shares of Novartis by 1.3% in the second quarter. Raymond James & Associates now owns 536,607 shares of the company’s stock valued at $57,127,000 after purchasing an additional 6,767 shares during the period. Manning & Napier Advisors LLC acquired a new position in shares of Novartis in the second quarter valued at approximately $15,044,000. O Shaughnessy Asset Management LLC grew its position in shares of Novartis by 6.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 180,764 shares of the company’s stock valued at $17,485,000 after purchasing an additional 11,080 shares during the last quarter. Integral Health Asset Management LLC increased its stake in shares of Novartis by 33.3% during the second quarter. Integral Health Asset Management LLC now owns 300,000 shares of the company’s stock worth $31,938,000 after purchasing an additional 75,000 shares during the period. Finally, FORA Capital LLC acquired a new stake in Novartis during the 1st quarter worth approximately $2,968,000. 13.12% of the stock is owned by institutional investors.

Novartis Trading Down 1.2 %

Shares of Novartis stock opened at $115.76 on Tuesday. The company has a quick ratio of 0.72, a current ratio of 0.93 and a debt-to-equity ratio of 0.47. Novartis AG has a 12-month low of $92.19 and a 12-month high of $120.92. The company has a market capitalization of $236.61 billion, a price-to-earnings ratio of 14.67, a PEG ratio of 1.70 and a beta of 0.57. The firm’s 50-day moving average price is $116.39 and its two-hundred day moving average price is $108.22.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $121.00 price objective (up from $119.00) on shares of Novartis in a report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Novartis in a research note on Friday, July 19th. Barclays raised shares of Novartis to a “strong sell” rating in a research report on Monday, June 24th. Jefferies Financial Group downgraded shares of Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. Finally, Bank of America cut shares of Novartis from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $135.00 to $130.00 in a report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $120.70.

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.