Reynders McVeigh Capital Management LLC grew its position in Novartis AG (NYSE:NVS – Get Rating) by 1.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 139,608 shares of the company's stock after buying an additional 2,387 shares during the period. Reynders McVeigh Capital Management LLC's holdings in Novartis were worth $10,612,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Activest Wealth Management acquired a new position in shares of Novartis in the 3rd quarter valued at $26,000. Carolinas Wealth Consulting LLC lifted its position in Novartis by 146.7% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 370 shares of the company's stock valued at $31,000 after acquiring an additional 220 shares in the last quarter. Creative Financial Designs Inc. ADV lifted its position in Novartis by 42.7% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 441 shares of the company's stock valued at $34,000 after acquiring an additional 132 shares in the last quarter. Curi Wealth Management LLC bought a new stake in Novartis in the 2nd quarter valued at $46,000. Finally, Adirondack Trust Co. lifted its position in Novartis by 327.7% in the 3rd quarter. Adirondack Trust Co. now owns 556 shares of the company's stock valued at $42,000 after acquiring an additional 426 shares in the last quarter. Institutional investors and hedge funds own 8.12% of the company's stock.

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Novartis Stock Performance

NYSE:NVS traded down $2.33 during mid-day trading on Thursday, reaching $85.90. 385,656 shares of the company's stock were exchanged, compared to its average volume of 2,160,289. Novartis AG has a one year low of $74.09 and a one year high of $94.26. The firm has a market capitalization of $190.06 billion, a PE ratio of 9.07, a price-to-earnings-growth ratio of 2.17 and a beta of 0.52. The business's fifty day simple moving average is $90.68 and its two-hundred day simple moving average is $84.76. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.07 and a current ratio of 1.31.

Analysts Set New Price Targets

Several equities research analysts have commented on NVS shares. Barclays cut their price target on shares of Novartis from CHF 85 to CHF 75 in a research report on Friday, October 14th. StockNews.com started coverage on shares of Novartis in a research report on Wednesday, October 12th. They set a "strong-buy" rating on the stock. UBS Group boosted their price target on shares of Novartis from CHF 82 to CHF 84 and gave the stock a "neutral" rating in a research report on Wednesday, December 14th. Stifel Nicolaus raised shares of Novartis from a "hold" rating to a "buy" rating in a research report on Monday, December 5th. Finally, Morgan Stanley lowered shares of Novartis from an "equal weight" rating to an "underweight" rating in a research note on Friday, January 6th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $85.11.

About Novartis

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Novartis AG is a holding company, which engages in the development, manufacture, and marketing of healthcare products. It operates through the following segments: Innovative Medicines, Sandoz, and Corporate. The Innovative Medicines segment researches, develops, manufactures, distributes and sells patented pharmaceuticals, and is composed of two business units: Novartis Oncology and Novartis Pharmaceuticals.

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