Novartis AG (NYSE:NVS) Holdings Increased by Grimes & Company Inc.

Grimes & Company Inc. grew its stake in shares of Novartis AG (NYSE:NVS) by 160.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,468 shares of the company’s stock after acquiring an additional 50,821 shares during the period. Grimes & Company Inc.’s holdings in Novartis were worth $6,924,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in NVS. Parnassus Investments CA lifted its position in shares of Novartis by 18.5% in the 3rd quarter. Parnassus Investments CA now owns 9,447,817 shares of the company’s stock worth $811,095,000 after buying an additional 1,477,168 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of Novartis by 2.8% in the 4th quarter. Fisher Asset Management LLC now owns 6,816,625 shares of the company’s stock worth $572,324,000 after buying an additional 183,641 shares during the last quarter. State Street Corp lifted its position in shares of Novartis by 2.3% in the 2nd quarter. State Street Corp now owns 3,046,276 shares of the company’s stock worth $254,273,000 after buying an additional 68,834 shares during the last quarter. Schafer Cullen Capital Management Inc. lifted its position in shares of Novartis by 9.2% in the 2nd quarter. Schafer Cullen Capital Management Inc. now owns 2,780,606 shares of the company’s stock worth $232,097,000 after buying an additional 233,292 shares during the last quarter. Finally, Mawer Investment Management Ltd. lifted its position in shares of Novartis by 2.2% in the 3rd quarter. Mawer Investment Management Ltd. now owns 2,665,258 shares of the company’s stock worth $228,812,000 after buying an additional 58,133 shares during the last quarter. 11.06% of the stock is owned by institutional investors.

NVS has been the topic of a number of recent research reports. Barclays downgraded shares of Novartis from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, October 25th. Zacks Investment Research downgraded shares of Novartis from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Nord/LB restated a “neutral” rating on shares of Novartis in a research report on Wednesday, December 27th. UBS Group restated a “neutral” rating on shares of Novartis in a research report on Monday, January 15th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of Novartis in a research report on Tuesday, October 31st. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. Novartis has a consensus rating of “Hold” and an average target price of $85.32.

Shares of Novartis AG (NYSE:NVS) traded up $1.80 during trading hours on Wednesday, reaching $85.40. 1,228,794 shares of the company traded hands, compared to its average volume of 1,719,263. The company has a market cap of $221,650.00, a P/E ratio of 26.22, a PEG ratio of 1.95 and a beta of 0.74. Novartis AG has a 12-month low of $72.67 and a 12-month high of $94.19. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.91 and a current ratio of 1.21.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Wednesday, January 24th. The company reported $1.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.04. The firm had revenue of $12.92 billion for the quarter, compared to the consensus estimate of $12.65 billion. Novartis had a net margin of 15.69% and a return on equity of 16.03%. Novartis’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period last year, the firm posted $1.14 EPS. sell-side analysts anticipate that Novartis AG will post 5.36 EPS for the current fiscal year.

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Novartis Company Profile

Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.

Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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