As Teekay (TK) Market Valuation Declined, Malaga Cove Capital Has Raised Holding; Wallace Capital Management Upped Holding in Novartis A G (NVS)

August 12, 2018 - By Margaret Guttierez

Teekay Corporation (NYSE:TK) Logo

Wallace Capital Management Inc increased its stake in Novartis A G (NVS) by 13.04% based on its latest 2018Q1 regulatory filing with the SEC. Wallace Capital Management Inc bought 11,015 shares as the company’s stock declined 11.54% with the market. The hedge fund held 95,483 shares of the major pharmaceuticals company at the end of 2018Q1, valued at $7.72M, up from 84,468 at the end of the previous reported quarter. Wallace Capital Management Inc who had been investing in Novartis A G for a number of months, seems to be bullish on the $191.93 billion market cap company. The stock decreased 1.44% or $1.2 during the last trading session, reaching $82.1. About 1.81M shares traded. Novartis AG (NYSE:NVS) has declined 6.45% since August 12, 2017 and is downtrending. It has underperformed by 19.02% the S&P500. Some Historical NVS News: 10/04/2018 – AveXis sells on Novartis approach; 17/04/2018 – REG-Novartis tender offer for AveXis commences; 16/04/2018 – BOEHRINGER, LILLY, OXFORD TO INVESTIGATE JARDIANCE; 24/05/2018 – Novartis’s Biosimilar Zessly Gets European Commission Nod; 07/05/2018 – STAT Plus: Pharmalittle: House to grill pharma wholesalers over opioids; Novartis tries a gambit to promote biosimilars; 10/05/2018 – Jeff DelViscio: EXCLUSIVE: “Yesterday was not a good day for Novartis” #understatement via CEO Vasant Narasimhan. @pharmalot; 10/05/2018 – Don’t miss — Hunting a cure, Ex-Novartis exec Bastiano Sanna takes the reins at Cambridge diabetes startup Semma @BrittanyMeiling; 11/05/2018 – Lawmaker opens probe into Novartis over its dealings with Trump’s attorney; 12/03/2018 – #2 — more changes at the top Operations head Wyss exits Novartis, giving way to new structure and a string of promotions $NVS; 30/04/2018 – NOVARTIS PHASE III DATA BROLUCIZUMAB DEMONSTRATE RELIABILITY OF

Malaga Cove Capital Llc increased its stake in Teekay Corporation (TK) by 53.15% based on its latest 2018Q1 regulatory filing with the SEC. Malaga Cove Capital Llc bought 67,986 shares as the company’s stock declined 4.51% with the market. The institutional investor held 195,902 shares of the marine transportation company at the end of 2018Q1, valued at $1.59 million, up from 127,916 at the end of the previous reported quarter. Malaga Cove Capital Llc who had been investing in Teekay Corporation for a number of months, seems to be bullish on the $701.03M market cap company. The stock decreased 1.41% or $0.1 during the last trading session, reaching $6.98. About 560,891 shares traded. Teekay Corporation (NYSE:TK) has risen 23.06% since August 12, 2017 and is uptrending. It has outperformed by 10.49% the S&P500. Some Historical TK News: 14/03/2018 – TEEKAY CORP TK.N – EILEEN MERCIER RETIRED FROM HER POSITION AS AUDIT COMMITTEE CHAIR, MEMBER OF BOARD OF DIRECTORS OF CO, EFFECTIVE MARCH 12, 2018; 17/05/2018 – TEEKAY CORP TK.N – QTRLY SHR LOSS $0.21; 17/05/2018 – TEEKAY CORP TK.N – QTRLY GAAP REVENUES $394 MLN VS $543.5 MLN; 17/05/2018 – Teekay Corp Closes Below 200-Day Moving Average: Technicals; 04/04/2018 – Teekay Corporation Declares Dividend; 17/05/2018 – Teekay 1Q Adj Loss/Shr $0.19; 23/03/2018 – Arctic Ocean ice near record low for winter, boost for shipping; 17/05/2018 – Teekay 1Q Rev $394.022M; 16/03/2018 – Teekay Corp Closes Above 200-Day Moving Average: Technicals; 17/05/2018 – Teekay 1Q Loss/Shr $0.21

Among 17 analysts covering Novartis Ag (NYSE:NVS), 5 have Buy rating, 2 Sell and 10 Hold. Therefore 29% are positive. Novartis Ag had 39 analyst reports since July 28, 2015 according to SRatingsIntel. The rating was maintained by JP Morgan on Friday, March 24 with “Neutral”. The rating was downgraded by Leerink Swann on Wednesday, March 23 to “Market Perform”. Morgan Stanley downgraded the stock to “Underperform” rating in Tuesday, April 12 report. The firm has “Hold” rating by Leerink Swann given on Thursday, June 22. The stock of Novartis AG (NYSE:NVS) earned “Overweight” rating by Morgan Stanley on Wednesday, July 26. The stock of Novartis AG (NYSE:NVS) earned “Sell” rating by Bank of America on Wednesday, December 6. The rating was upgraded by Barclays Capital on Thursday, July 19 to “Equal-Weight”. The stock of Novartis AG (NYSE:NVS) earned “Buy” rating by Chardan Capital Markets on Tuesday, September 20. As per Wednesday, April 19, the company rating was maintained by JP Morgan. The firm has “Hold” rating by Cowen & Co given on Wednesday, August 9.

More notable recent Novartis AG (NYSE:NVS) news were published by: Seekingalpha.com which released: “BeiGene launches late-stage study of tislelizumab in first-line lung cancer” on August 09, 2018, also Fool.com with their article: “Why Novartis Stock Gained 11% in July” published on August 06, 2018, Seekingalpha.com published: “Novartis: Transformation Continues” on July 22, 2018. More interesting news about Novartis AG (NYSE:NVS) were released by: Benzinga.com and their article: “Earnings Outlook For Novartis” published on July 17, 2018 as well as Seekingalpha.com‘s news article titled: “Novartis: Business Transformation In Progress” with publication date: August 07, 2018.

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