Comerica Bank Has $14.32 Million Stake in Novartis AG (NVS)

Comerica Bank lifted its position in Novartis AG (NYSE:NVS) by 3.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 162,658 shares of the company’s stock after purchasing an additional 4,967 shares during the quarter. Comerica Bank’s holdings in Novartis were worth $14,315,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Palisade Asset Management LLC grew its holdings in Novartis by 2.7% during the 3rd quarter. Palisade Asset Management LLC now owns 22,117 shares of the company’s stock worth $1,906,000 after acquiring an additional 588 shares during the last quarter. Ferguson Wellman Capital Management Inc. boosted its stake in shares of Novartis by 9.2% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 7,000 shares of the company’s stock valued at $603,000 after purchasing an additional 590 shares during the last quarter. LeJeune Puetz Investment Counsel LLC boosted its stake in shares of Novartis by 11.3% in the 3rd quarter. LeJeune Puetz Investment Counsel LLC now owns 5,925 shares of the company’s stock valued at $510,000 after purchasing an additional 600 shares during the last quarter. Dempze Nancy E boosted its stake in shares of Novartis by 2.4% in the 3rd quarter. Dempze Nancy E now owns 25,560 shares of the company’s stock valued at $2,203,000 after purchasing an additional 608 shares during the last quarter. Finally, ST Germain D J Co. Inc. boosted its stake in shares of Novartis by 14.8% in the 2nd quarter. ST Germain D J Co. Inc. now owns 4,765 shares of the company’s stock valued at $360,000 after purchasing an additional 615 shares during the last quarter. 10.95% of the stock is currently owned by institutional investors and hedge funds.

NVS has been the topic of several recent research reports. Citigroup raised shares of Novartis from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 11th. Bank of America raised shares of Novartis from an “underperform” rating to a “buy” rating and set a $74.71 target price on the stock in a research note on Monday, September 10th. Zacks Investment Research raised shares of Novartis from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a research note on Tuesday, September 18th. DZ Bank reaffirmed a “buy” rating on shares of Novartis in a research note on Thursday, July 19th. Finally, Barclays raised shares of Novartis from an “underweight” rating to an “equal weight” rating in a research note on Thursday, July 19th. Twelve investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Novartis has a consensus rating of “Hold” and a consensus target price of $84.86.

Shares of NYSE NVS opened at $89.23 on Tuesday. The stock has a market capitalization of $202.08 billion, a PE ratio of 17.27, a price-to-earnings-growth ratio of 1.93 and a beta of 0.73. 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.

Novartis (NYSE:NVS) last announced its quarterly earnings results on Thursday, October 18th. The company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.01. The business had revenue of $12.78 billion for the quarter, compared to the consensus estimate of $12.88 billion. Novartis had a net margin of 25.98% and a return on equity of 15.81%. Novartis’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period last year, the company posted $1.29 EPS. Analysts expect that Novartis AG will post 5.17 EPS for the current 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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