Creative Planning boosted its stake in shares of Novartis AG (NYSE:NVS) by 124.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 64,067 shares of the company’s stock after buying an additional 35,547 shares during the period. Creative Planning’s holdings in Novartis AG were worth $5,059,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in NVS. Parnassus Investments CA increased its stake in Novartis AG by 61.3% in the second quarter. Parnassus Investments CA now owns 3,481,896 shares of the company’s stock worth $287,291,000 after buying an additional 1,323,724 shares in the last quarter. Thomaspartners Inc. increased its stake in Novartis AG by 76.6% in the second quarter. Thomaspartners Inc. now owns 2,620,677 shares of the company’s stock worth $216,232,000 after buying an additional 1,136,338 shares in the last quarter. Aristotle Capital Management LLC increased its stake in Novartis AG by 31.9% in the second quarter. Aristotle Capital Management LLC now owns 2,736,946 shares of the company’s stock worth $225,825,000 after buying an additional 662,285 shares in the last quarter. FMR LLC increased its stake in Novartis AG by 65.6% in the second quarter. FMR LLC now owns 1,208,384 shares of the company’s stock worth $99,704,000 after buying an additional 478,679 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in Novartis AG during the second quarter worth about $37,505,000. 9.85% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Novartis AG (NYSE:NVS)

Shares of Novartis AG (NYSE:NVS) traded up 1.12% during midday trading on Friday, hitting $69.58. The stock had a trading volume of 1,770,452 shares. The company has a market cap of $165.29 billion, a price-to-earnings ratio of 24.53 and a beta of 0.71. The stock’s 50-day moving average price is $73.05 and its 200 day moving average price is $78.41. Novartis AG has a 52 week low of $67.28 and a 52 week high of $88.49.

Novartis AG (NYSE:NVS) last announced its quarterly earnings results on Tuesday, October 25th. The company reported $1.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.04. Novartis AG had a net margin of 13.98% and a return on equity of 15.25%. The business had revenue of $12.13 billion for the quarter, compared to analysts’ expectations of $12.24 billion. During the same quarter last year, the firm earned $1.27 EPS. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, equities analysts forecast that Novartis AG will post $4.72 earnings per share for the current year.

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A number of analysts recently issued reports on NVS shares. Argus reaffirmed a “hold” rating on shares of Novartis AG in a research report on Thursday, August 25th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Novartis AG in a research report on Tuesday, September 13th. Chardan Capital started coverage on Novartis AG in a research report on Tuesday, September 20th. They issued a “buy” rating and a $95.00 target price on the stock. Zacks Investment Research downgraded Novartis AG from a “hold” rating to a “sell” rating in a research report on Wednesday, September 21st. Finally, TheStreet downgraded Novartis AG from a “buy” rating to a “hold” rating in a research report on Wednesday, September 28th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Novartis AG presently has an average rating of “Hold” and a consensus target price of $88.50.

Novartis AG Company Profile

Novartis AG is a holding company. The Company specializes in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals, including eye care products. Its portfolio includes medicines, eye care and generic pharmaceuticals. The Company’s segments include Pharmaceuticals, Alcon and Sandoz.

5 Day Chart for NYSE:NVS

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