Fmr LLC cut its holdings in Novartis AG (NYSE:NVS) by 15.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,178,943 shares of the company’s stock after selling 211,538 shares during the period. Fmr LLC’s holdings in Novartis were worth $89,057,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of NVS. Boston Partners increased its stake in Novartis by 106.0% in the 2nd quarter. Boston Partners now owns 5,606,630 shares of the company’s stock worth $423,525,000 after acquiring an additional 2,885,436 shares during the last quarter. Charles Schwab Investment Advisory Inc. bought a new stake in Novartis in the 2nd quarter worth approximately $297,538,000. Renaissance Technologies LLC increased its stake in Novartis by 89.3% in the 2nd quarter. Renaissance Technologies LLC now owns 3,856,288 shares of the company’s stock worth $291,304,000 after acquiring an additional 1,819,590 shares during the last quarter. Mawer Investment Management Ltd. increased its stake in Novartis by 2.2% in the 2nd quarter. Mawer Investment Management Ltd. now owns 2,968,452 shares of the company’s stock worth $224,237,000 after acquiring an additional 65,185 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in Novartis by 32.2% in the 2nd quarter. Janus Henderson Group PLC now owns 2,525,979 shares of the company’s stock worth $190,812,000 after acquiring an additional 615,844 shares during the last quarter. 10.95% of the stock is currently owned by institutional investors.

A number of research firms have issued reports on NVS. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Novartis in a research note on Tuesday, November 6th. Wolfe Research began coverage on Novartis in a research note on Tuesday, October 23rd. They issued an “outperform” rating on the stock. Guggenheim began coverage on Novartis in a research note on Monday, October 8th. They issued a “neutral” rating on the stock. Goldman Sachs Group reaffirmed a “neutral” rating on shares of Novartis in a research note on Wednesday, October 10th. Finally, Zacks Investment Research raised Novartis from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a research note on Tuesday, September 18th. Twelve analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $84.86.

NYSE:NVS opened at $89.22 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.96 and a current ratio of 1.20. Novartis AG has a 1 year low of $72.30 and a 1 year high of $94.19. The company has a market capitalization of $206.02 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 1.97 and a beta of 0.73.

Novartis (NYSE:NVS) last released its earnings results on Thursday, October 18th. The company reported $1.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.01. The firm had revenue of $12.78 billion for the quarter, compared to the consensus estimate of $12.88 billion. Novartis had a return on equity of 15.81% and a net margin of 25.98%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.29 EPS. On average, equities analysts expect that Novartis AG will post 5.17 earnings per share for the current fiscal year.

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About Novartis

Novartis AG researches, develops, manufactures, and markets a range of healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines to enhance health outcomes for patients and health-care providers. This segment also commercializes products in the areas of oncology and rare diseases, ophthalmology, immunology and dermatology, neuroscience, respiratory, cardio-metabolic, and established medicines.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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