Dimensional Fund Advisors LP Boosts Stake in Novartis AG (NVS)
Dimensional Fund Advisors LP grew its position in Novartis AG (NYSE:NVS) by 16.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,840,189 shares of the company’s stock after purchasing an additional 257,123 shares during the quarter. Dimensional Fund Advisors LP owned about 0.07% of Novartis AG worth $153,601,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the company. Primecap Management Co. CA grew its position in shares of Novartis AG by 2.1% in the first quarter. Primecap Management Co. CA now owns 21,693,804 shares of the company’s stock valued at $1,611,199,000 after purchasing an additional 446,976 shares during the last quarter. Bank of America Corp DE grew its position in shares of Novartis AG by 7.5% in the first quarter. Bank of America Corp DE now owns 7,328,730 shares of the company’s stock valued at $544,304,000 after purchasing an additional 508,435 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Novartis AG by 6.3% in the second quarter. Fisher Asset Management LLC now owns 6,505,935 shares of the company’s stock valued at $543,050,000 after purchasing an additional 384,262 shares during the last quarter. Loomis Sayles & Co. L P grew its position in shares of Novartis AG by 0.7% in the first quarter. Loomis Sayles & Co. L P now owns 6,241,239 shares of the company’s stock valued at $463,537,000 after purchasing an additional 41,762 shares during the last quarter. Finally, BlackRock Inc. grew its position in shares of Novartis AG by 25.3% in the second quarter. BlackRock Inc. now owns 3,549,783 shares of the company’s stock valued at $296,299,000 after purchasing an additional 717,186 shares during the last quarter. 10.93% of the stock is currently owned by institutional investors.
Several equities analysts have recently commented on NVS shares. TheStreet raised Novartis AG from a “c+” rating to a “b” rating in a research report on Friday, June 2nd. Zacks Investment Research raised Novartis AG from a “hold” rating to a “buy” rating and set a $96.00 target price on the stock in a research report on Tuesday, September 19th. Barclays PLC raised Novartis AG from an “underweight” rating to an “equal weight” rating in a research report on Thursday, June 22nd. Cowen and Company set a $77.00 target price on Novartis AG and gave the company a “hold” rating in a research report on Tuesday, July 11th. Finally, BidaskClub raised Novartis AG from a “sell” rating to a “hold” rating in a research report on Saturday, August 5th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $85.12.
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In other Novartis AG news, major shareholder Bioventures Ltd Novartis acquired 266,667 shares of Novartis AG stock in a transaction that occurred on Wednesday, July 5th. The stock was acquired at an average cost of $15.00 per share, for a total transaction of $4,000,005.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 0.01% of the stock is currently owned by insiders.
Shares of Novartis AG (NYSE NVS) opened at 84.57 on Thursday. The company has a market capitalization of $198.14 billion, a PE ratio of 30.88 and a beta of 0.74. Novartis AG has a 1-year low of $66.93 and a 1-year high of $86.90. The firm’s 50-day moving average price is $84.30 and its 200 day moving average price is $80.50.
Novartis AG (NYSE:NVS) last released its quarterly earnings data on Tuesday, July 18th. The company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.06. Novartis AG had a net margin of 13.52% and a return on equity of 15.51%. The business had revenue of $12.24 billion during the quarter, compared to analyst estimates of $12.20 billion. During the same period in the previous year, the business earned $1.23 EPS. Novartis AG’s revenue was down 1.8% compared to the same quarter last year. Equities analysts predict that Novartis AG will post $4.75 EPS for the current fiscal year.
About Novartis AG
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.
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