Parametric Portfolio Associates LLC lifted its holdings in Novartis AG (NYSE:NVS) by 3.4% in the 2nd quarter, reports. The fund owned 2,477,320 shares of the company’s stock after buying an additional 81,591 shares during the period. Parametric Portfolio Associates LLC’s holdings in Novartis were worth $226,204,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Comerica Securities Inc. acquired a new stake in shares of Novartis during the 4th quarter worth approximately $570,000. Gamco Investors INC. ET AL bought a new position in Novartis during the first quarter worth $299,000. Cornerstone Advisors Inc. boosted its stake in Novartis by 57.9% during the first quarter. Cornerstone Advisors Inc. now owns 1,113 shares of the company’s stock worth $107,000 after acquiring an additional 408 shares in the last quarter. Stephens Inc. AR boosted its stake in Novartis by 7.9% during the first quarter. Stephens Inc. AR now owns 24,445 shares of the company’s stock worth $2,350,000 after acquiring an additional 1,789 shares in the last quarter. Finally, Goelzer Investment Management Inc. acquired a new stake in Novartis in the first quarter worth $845,000. 11.21% of the stock is currently owned by institutional investors.

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

Shares of NYSE NVS traded up $0.13 during mid-day trading on Wednesday, reaching $88.67. 886,927 shares of the company’s stock were exchanged, compared to its average volume of 1,414,769. The firm has a 50-day moving average price of $90.36 and a two-hundred day moving average price of $88.65. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.74. The firm has a market capitalization of $203.04 billion, a price-to-earnings ratio of 17.42, a price-to-earnings-growth ratio of 2.03 and a beta of 0.58. Novartis AG has a 52 week low of $71.86 and a 52 week high of $95.00.

Novartis (NYSE:NVS) last released its earnings results on Thursday, July 18th. The company reported $1.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.14. The firm had revenue of $11.76 billion during the quarter, compared to the consensus estimate of $11.45 billion. Novartis had a net margin of 23.27% and a return on equity of 18.55%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.29 EPS. As a group, sell-side analysts forecast that Novartis AG will post 5.15 EPS for the current fiscal year.

Novartis Company 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.

Further Reading: What is the Coverage Ratio?

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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