Lord Abbett & CO. LLC acquired a new stake in shares of Novartis AG (NYSE:NVS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 354,331 shares of the company’s stock, valued at approximately $29,576,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in NVS. BlackRock Inc. purchased a new position in shares of Novartis AG during the first quarter valued at approximately $210,378,000. Janus Henderson Group PLC lifted its stake in shares of Novartis AG by 42,797.5% during the second 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 during the period. Janus Capital Management LLC lifted its stake in shares of Novartis AG by 34,406.2% during the first quarter. Janus Capital Management LLC now owns 1,759,816 shares of the company’s stock valued at $130,696,000 after buying an additional 1,754,716 shares during the period. FMR LLC lifted its stake in shares of Novartis AG by 172.1% during the second quarter. FMR LLC now owns 2,294,782 shares of the company’s stock valued at $191,546,000 after buying an additional 1,451,441 shares during the period. Finally, Principal Financial Group Inc. purchased a new position in shares of Novartis AG during the second quarter valued at approximately $71,606,000. 10.93% of the stock is currently owned by institutional investors and hedge funds.

TRADEMARK VIOLATION NOTICE: This article was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this article on another domain, it was illegally stolen and reposted in violation of international copyright law. The original version of this article can be read at https://www.thecerbatgem.com/2017/10/22/lord-abbett-co-llc-acquires-new-position-in-novartis-ag-nvs.html.

Novartis AG (NYSE:NVS) opened at 85.74 on Friday. 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 is $85.60 and its 200-day moving average is $82.21. The stock has a market cap of $200.88 billion, a P/E ratio of 31.30 and a beta of 0.73.

Several equities analysts recently issued reports on the stock. BidaskClub downgraded shares of Novartis AG from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Credit Suisse Group downgraded shares of Novartis AG from a “neutral” rating to an “underperform” rating and set a $82.25 price objective on the stock. in a research note on Wednesday, July 5th. Cowen and Company reissued a “hold” rating on shares of Novartis AG in a research note on Tuesday, July 18th. Finally, J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Novartis AG in a research note on Tuesday, September 5th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $84.13.

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.

Want to see what other hedge funds are holding NVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Novartis AG (NYSE:NVS).

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

Receive News & Stock Ratings for Novartis AG Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novartis AG and related stocks with our FREE daily email newsletter.