Stifel Financial Corp boosted its stake in Novartis AG (NYSE:NVS) by 5.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 270,251 shares of the company’s stock after purchasing an additional 14,629 shares during the period. Stifel Financial Corp’s holdings in Novartis were worth $23,225,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NVS. Geode Capital Management LLC boosted its position in Novartis by 19.8% during the first quarter. Geode Capital Management LLC now owns 18,918 shares of the company’s stock valued at $1,405,000 after acquiring an additional 3,125 shares during the last quarter. Somerset Trust Co boosted its position in Novartis by 7.6% during the second quarter. Somerset Trust Co now owns 14,384 shares of the company’s stock valued at $1,201,000 after acquiring an additional 1,017 shares during the last quarter. Chevy Chase Trust Holdings Inc. boosted its position in shares of Novartis by 5.9% during the 2nd quarter. Chevy Chase Trust Holdings Inc. now owns 336,503 shares of the company’s stock worth $28,088,000 after purchasing an additional 18,806 shares in the last quarter. Leavell Investment Management Inc. bought a new position in shares of Novartis during the 2nd quarter worth about $318,000. Finally, Chesley Taft & Associates LLC boosted its position in shares of Novartis by 1.3% during the 2nd quarter. Chesley Taft & Associates LLC now owns 60,666 shares of the company’s stock worth $5,064,000 after purchasing an additional 794 shares in the last quarter. Institutional investors and hedge funds own 10.87% of the company’s stock.

A number of research firms have recently issued reports on NVS. Bank of America cut shares of Novartis from a “neutral” rating to an “underperform” rating in a research report on Wednesday. J P Morgan Chase & Co reissued a “neutral” rating on shares of Novartis in a research report on Tuesday, October 24th. BidaskClub cut shares of Novartis from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Cowen set a $90.00 price objective on shares of Novartis and gave the stock a “hold” rating in a research report on Wednesday, August 9th. Finally, Leerink Swann increased their price objective on shares of Novartis from $89.00 to $91.00 and gave the stock a “market perform” rating in a research report on Monday, October 23rd. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $85.32.

Shares of Novartis AG (NVS) traded down $0.76 during midday trading on Wednesday, reaching $83.08. 634,960 shares of the company traded hands, compared to its average volume of 2,280,229. Novartis AG has a twelve month low of $66.93 and a twelve month high of $86.90. The company has a market cap of $200,791.69, a PE ratio of 17.87, a price-to-earnings-growth ratio of 2.71 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.81 and a current ratio of 1.08.

Novartis (NYSE:NVS) last announced its quarterly earnings results on Tuesday, October 24th. The company reported $1.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.04. Novartis had a net margin of 13.73% and a return on equity of 15.77%. The business had revenue of $12.41 billion for the quarter, compared to analysts’ expectations of $12.21 billion. During the same quarter last year, the firm earned $1.23 EPS. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. equities analysts predict that Novartis AG will post 4.75 EPS for the current fiscal year.

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Novartis 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 (NYSE:NVS)

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