Ingalls & Snyder LLC raised its holdings in Novartis AG (NYSE:NVS – Get Rating) by 7.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 105,098 shares of the company's stock after acquiring an additional 6,961 shares during the period. Ingalls & Snyder LLC's holdings in Novartis were worth $9,222,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Dimensional Fund Advisors LP increased its position in shares of Novartis by 35.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,870,136 shares of the company's stock valued at $338,521,000 after purchasing an additional 1,003,235 shares during the last quarter. Cullen Capital Management LLC increased its position in shares of Novartis by 17.6% during the 1st quarter. Cullen Capital Management LLC now owns 3,295,271 shares of the company's stock valued at $289,160,000 after purchasing an additional 492,643 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Novartis by 4.7% during the 1st quarter. Fisher Asset Management LLC now owns 10,871,033 shares of the company's stock valued at $953,933,000 after purchasing an additional 486,367 shares during the last quarter. Renaissance Technologies LLC grew its position in Novartis by 12.7% during the 4th quarter. Renaissance Technologies LLC now owns 3,727,570 shares of the company's stock worth $326,051,000 after acquiring an additional 420,333 shares during the last quarter. Finally, Boston Partners grew its position in Novartis by 6.7% during the 4th quarter. Boston Partners now owns 4,677,403 shares of the company's stock worth $409,194,000 after acquiring an additional 292,854 shares during the last quarter. Hedge funds and other institutional investors own 9.40% of the company's stock.
Get Novartis alerts:Analyst Ratings Changes
NVS has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft reduced their price target on Novartis from CHF 80 to CHF 75 in a research report on Wednesday, June 29th. Barclays raised their price target on Novartis from CHF 80 to CHF 85 in a research report on Thursday, April 14th. upgraded Novartis from a "hold" rating to a "buy" rating in a research report on Thursday, April 14th. UBS Group raised their price target on Novartis from CHF 85 to CHF 88 and gave the stock a "neutral" rating in a research report on Wednesday, April 27th. Finally, Oppenheimer lowered Novartis from an "outperform" rating to a "market perform" rating in a research report on Friday, June 3rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $87.33.
Novartis Trading Up 0.4 %
NVS opened at $85.57 on Friday. The stock has a market cap of $189.33 billion, a PE ratio of 8.36, a PEG ratio of 2.42 and a beta of 0.51. The company has a quick ratio of 1.13, a current ratio of 1.38 and a debt-to-equity ratio of 0.35. The business has a 50 day moving average of $85.04 and a 200-day moving average of $86.60. Novartis AG has a 52 week low of $79.09 and a 52 week high of $95.17.Novartis (NYSE:NVS – Get Rating) last released its earnings results on Monday, July 18th. The company reported $1.56 EPS for the quarter, beating analysts' consensus estimates of $1.52 by $0.04. The company had revenue of $12.78 billion during the quarter, compared to analysts' expectations of $12.78 billion. Novartis had a return on equity of 21.88% and a net margin of 44.31%. The firm's revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.64 EPS. Equities research analysts predict that Novartis AG will post 6.06 earnings per share for the current fiscal year.
About Novartis
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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.
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