Maven Securities LTD bought a new stake in Novartis AG (NYSE:NVS) during the second quarter, HoldingsChannel reports. The firm bought 16,000 shares of the company’s stock, valued at approximately $1,462,000.

Other institutional investors also recently modified their holdings of the company. Primecap Management Co. CA grew its position in shares of Novartis by 4.2% in the 1st quarter. Primecap Management Co. CA now owns 23,857,216 shares of the company’s stock worth $2,293,633,000 after acquiring an additional 969,985 shares in the last quarter. FMR LLC lifted its stake in Novartis by 23.7% during the first quarter. FMR LLC now owns 8,678,552 shares of the company’s stock worth $834,356,000 after purchasing an additional 1,662,505 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Novartis by 3.1% in the second quarter. Fisher Asset Management LLC now owns 8,067,235 shares of the company’s stock worth $736,619,000 after purchasing an additional 244,544 shares during the period. Mawer Investment Management Ltd. boosted its holdings in Novartis by 2.3% in the second quarter. Mawer Investment Management Ltd. now owns 5,813,946 shares of the company’s stock worth $530,871,000 after purchasing an additional 133,293 shares during the period. Finally, Charles Schwab Investment Advisory Inc. boosted its holdings in Novartis by 2.9% in the second quarter. Charles Schwab Investment Advisory Inc. now owns 4,229,178 shares of the company’s stock worth $386,166,000 after purchasing an additional 118,863 shares during the period. Institutional investors and hedge funds own 11.21% of the company’s stock.

NYSE NVS traded up $0.29 during trading hours on Wednesday, hitting $88.83. The company had a trading volume of 1,082,883 shares, compared to its average volume of 1,414,769. Novartis AG has a fifty-two week low of $71.86 and a fifty-two week high of $95.00. The company has a quick ratio of 0.74, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. The business has a fifty day simple moving average of $90.36 and a 200-day simple moving average of $88.65. The firm has a market cap of $203.04 billion, a P/E ratio of 17.45, a price-to-earnings-growth ratio of 2.03 and a beta of 0.58.

Novartis (NYSE:NVS) last posted its earnings results on Thursday, July 18th. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.14. Novartis had a return on equity of 18.55% and a net margin of 23.27%. The company had revenue of $11.76 billion for the quarter, compared to analysts’ expectations of $11.45 billion. During the same period last year, the business posted $1.29 earnings per share. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities analysts forecast that Novartis AG will post 5.15 EPS for the current fiscal year.

NVS has been the topic of a number of research reports. Jefferies Financial Group reissued a “buy” rating on shares of Novartis in a report on Thursday, August 29th. Zacks Investment Research downgraded shares of Novartis from a “buy” rating to a “hold” rating and set a $100.00 price target on the stock. in a research report on Friday, July 19th. JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of Novartis in a report on Friday, July 5th. Kepler Capital Markets downgraded shares of Novartis from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Finally, Argus increased their price objective on shares of Novartis to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. They noted that the move was a valuation call. Four research analysts have rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Novartis currently has a consensus rating of “Hold” and an average target price of $93.29.

Novartis Profile

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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