Cypress Asset Management Inc. TX Has $709,000 Stake in Novartis AG (NYSE:NVS)

Cypress Asset Management Inc. TX decreased its holdings in Novartis AG (NYSE:NVSGet Rating) by 3.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,383 shares of the company’s stock after selling 330 shares during the period. Cypress Asset Management Inc. TX’s holdings in Novartis were worth $709,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in NVS. B. Metzler seel. Sohn & Co. AG acquired a new position in Novartis in the second quarter worth approximately $462,000. FMR LLC increased its holdings in Novartis by 5.2% in the second quarter. FMR LLC now owns 1,412,717 shares of the company’s stock worth $119,417,000 after buying an additional 70,136 shares during the last quarter. Bar Harbor Wealth Management acquired a new position in Novartis in the second quarter worth approximately $269,000. Claro Advisors LLC increased its holdings in Novartis by 63.8% in the second quarter. Claro Advisors LLC now owns 4,695 shares of the company’s stock worth $397,000 after buying an additional 1,828 shares during the last quarter. Finally, Greenleaf Trust increased its holdings in Novartis by 6.1% in the second quarter. Greenleaf Trust now owns 15,371 shares of the company’s stock worth $1,299,000 after buying an additional 883 shares during the last quarter. Institutional investors and hedge funds own 9.14% of the company’s stock.

Analyst Ratings Changes

NVS has been the subject of a number of recent analyst reports. Morgan Stanley decreased their target price on Novartis from CHF 97 to CHF 88 in a research report on Thursday, September 8th. Berenberg Bank cut Novartis from a “buy” rating to a “hold” rating in a research report on Wednesday, September 14th. Credit Suisse Group cut Novartis from a “neutral” rating to an “underperform” rating in a research report on Thursday, September 15th. Oddo Bhf cut Novartis from an “outperform” rating to a “neutral” rating and set a CHF 88 target price for the company. in a research report on Thursday, September 29th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Novartis from CHF 75 to CHF 70 and set a “sell” rating for the company in a research report on Friday, October 7th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Novartis currently has a consensus rating of “Hold” and an average price target of $85.45.

Novartis Stock Performance

NVS stock traded down $0.41 during midday trading on Thursday, hitting $87.29. The stock had a trading volume of 1,183,981 shares, compared to its average volume of 2,267,723. The firm has a market capitalization of $193.14 billion, a price-to-earnings ratio of 8.97, a P/E/G ratio of 2.55 and a beta of 0.55. Novartis AG has a 52 week low of $74.09 and a 52 week high of $94.26. The stock has a 50-day simple moving average of $79.38 and a 200 day simple moving average of $83.04. The company has a current ratio of 1.31, a quick ratio of 1.07 and a debt-to-equity ratio of 0.32.

Novartis Company Profile

(Get Rating)

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company operates through two segments, Innovative Medicines and Sandoz. The Innovative Medicines segment offers prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology, dermatology, respiratory, cardiovascular, renal, and metabolism medicine products.

See Also

Want to see what other hedge funds are holding NVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Novartis AG (NYSE:NVSGet Rating).

Institutional Ownership by Quarter for Novartis (NYSE:NVS)

Receive News & Ratings for Novartis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novartis and related companies with MarketBeat.com's FREE daily email newsletter.