Novartis AG (NVS) Shares Sold by Fmr LLC

Fmr LLC trimmed its holdings in Novartis AG (NYSE:NVS) by 15.2% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,178,943 shares of the company’s stock after selling 211,538 shares during the quarter. Fmr LLC owned about 0.05% of Novartis worth $89,057,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NVS. Charles Schwab Investment Advisory Inc. bought a new stake in Novartis in the 2nd quarter worth about $297,538,000. Boston Partners increased its holdings 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 buying an additional 2,885,436 shares in the last quarter. Renaissance Technologies LLC increased its holdings 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 buying an additional 1,819,590 shares in the last quarter. Fiera Capital Corp increased its holdings in Novartis by 453.4% in the 2nd quarter. Fiera Capital Corp now owns 975,917 shares of the company’s stock worth $73,721,000 after buying an additional 799,580 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings 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 buying an additional 615,844 shares in the last quarter. Institutional investors own 10.95% of the company’s stock.

Several equities research analysts recently commented on the company. BNP Paribas upgraded Novartis from an “underperform” rating to a “neutral” rating in a report on Tuesday, September 11th. Barclays upgraded Novartis from an “underweight” rating to an “equal weight” rating in a report on Thursday, July 19th. Wolfe Research began coverage on Novartis in a report on Tuesday, October 23rd. They issued an “outperform” rating for the company. Exane BNP Paribas raised Novartis from an “underperform” rating to a “neutral” rating in a research report on Tuesday, September 11th. Finally, Zacks Investment Research raised Novartis from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a research report on Tuesday, September 18th. Twelve equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $84.86.

Shares of NYSE:NVS opened at $89.22 on Friday. The stock 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. 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 52-week low of $72.30 and a 52-week high of $94.19.

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

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Novartis Profile

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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