Cubist Systematic Strategies LLC decreased its position in shares of Novartis AG (NYSE:NVS) by 28.7% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 26,792 shares of the company’s stock after selling 10,783 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Novartis AG were worth $2,236,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Carret Asset Management LLC lifted its stake in shares of Novartis AG by 12.7% during the 2nd quarter. Carret Asset Management LLC now owns 54,538 shares of the company’s stock valued at $4,552,000 after buying an additional 6,131 shares in the last quarter. State Street Corp lifted its stake in shares of Novartis AG by 2.3% during the 2nd quarter. State Street Corp now owns 3,046,276 shares of the company’s stock valued at $254,273,000 after buying an additional 68,834 shares in the last quarter. Lenox Wealth Management Inc. purchased a new position in shares of Novartis AG during the 2nd quarter valued at $827,000. FTB Advisors Inc. lifted its stake in shares of Novartis AG by 5.6% during the 2nd quarter. FTB Advisors Inc. now owns 33,212 shares of the company’s stock valued at $2,784,000 after buying an additional 1,768 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of Novartis AG by 42,797.5% during the 2nd quarter. Janus Henderson Group PLC now owns 1,914,516 shares of the company’s stock valued at $159,821,000 after buying an additional 1,910,053 shares in the last quarter. Institutional investors own 10.92% of the company’s stock.

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A number of research firms recently weighed in on NVS. Zacks Investment Research upgraded shares of Novartis AG from a “hold” rating to a “buy” rating and set a $96.00 target price on the stock in a research note on Tuesday, September 19th. Leerink Swann restated a “market perform” rating and set a $83.00 target price on shares of Novartis AG in a research note on Thursday, June 22nd. Morgan Stanley upgraded shares of Novartis AG from an “underweight” rating to an “overweight” rating in a research note on Wednesday, July 26th. Credit Suisse Group cut shares of Novartis AG from a “neutral” rating to an “underperform” rating and set a $82.25 target price on the stock. in a research note on Wednesday, July 5th. Finally, Cowen and Company set a $77.00 target price on shares of Novartis AG and gave the company a “hold” rating in a research note on Tuesday, July 11th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $85.12.

Shares of Novartis AG (NYSE:NVS) traded down 0.09% during mid-day trading on Monday, reaching $85.69. 166,782 shares of the company’s stock traded hands. The company’s 50 day moving average is $84.84 and its 200 day moving average is $81.39. The company has a market cap of $200.76 billion, a P/E ratio of 31.29 and a beta of 0.73. Novartis AG has a 12-month low of $66.93 and a 12-month high of $86.90.

Novartis AG (NYSE:NVS) last issued its quarterly earnings results on Tuesday, July 18th. The company reported $1.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.06. The firm had revenue of $12.24 billion for the quarter, compared to analyst estimates of $12.20 billion. Novartis AG had a net margin of 13.52% and a return on equity of 15.51%. Novartis AG’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period last year, the company posted $1.23 EPS. On average, analysts predict that Novartis AG will post $4.75 EPS for the current fiscal year.

Novartis AG 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 AG (NYSE:NVS)

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