Eagle Asset Management Inc. acquired a new stake in Novartis AG (NYSE:NVS) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,103 shares of the company’s stock, valued at approximately $613,000.

Several other hedge funds have also recently added to or reduced their stakes in NVS. Janus Henderson Group PLC increased its position in shares of Novartis by 42,797.5% in the second quarter. Janus Henderson Group PLC now owns 1,914,516 shares of the company’s stock valued at $159,821,000 after acquiring an additional 1,910,053 shares during the period. Parnassus Investments CA increased its position in shares of Novartis by 18.5% during the third quarter. Parnassus Investments CA now owns 9,447,817 shares of the company’s stock valued at $811,095,000 after buying an additional 1,477,168 shares during the period. FMR LLC increased its position in shares of Novartis 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. Principal Financial Group Inc. purchased a new position in shares of Novartis during the second quarter valued at about $71,606,000. Finally, BlackRock Inc. increased its position in shares of Novartis by 25.3% during the second quarter. BlackRock Inc. now owns 3,549,783 shares of the company’s stock valued at $296,299,000 after buying an additional 717,186 shares during the period. Hedge funds and other institutional investors own 10.87% of the company’s stock.

Several brokerages recently issued reports on NVS. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Novartis in a research report on Tuesday, September 26th. Zacks Investment Research cut shares of Novartis from a “buy” rating to a “hold” rating in a research report on Thursday, September 21st. Leerink Swann boosted their price target on shares of Novartis from $89.00 to $91.00 and gave the company a “market perform” rating in a research report on Monday, October 23rd. Cowen set a $90.00 price objective on shares of Novartis and gave the stock a “hold” rating in a research note on Wednesday, August 9th. Finally, Bank of America lowered shares of Novartis from a “neutral” rating to an “underperform” rating in a research note on Wednesday. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. Novartis presently has an average rating of “Hold” and an average price target of $85.32.

Shares of Novartis AG (NYSE NVS) traded down $0.66 during midday trading on Thursday, hitting $83.18. 1,256,800 shares of the stock traded hands, compared to its average volume of 2,275,874. The company has a market capitalization of $198,331.47, a P/E ratio of 17.65, a PEG ratio of 2.67 and a beta of 0.73. Novartis AG has a 52-week low of $66.93 and a 52-week high of $86.90. The company has a current ratio of 1.08, a quick ratio of 0.81 and a debt-to-equity ratio of 0.32.

Novartis (NYSE:NVS) last issued its earnings results on Tuesday, October 24th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.04. The firm had revenue of $12.41 billion for the quarter, compared to the consensus estimate of $12.21 billion. Novartis had a net margin of 13.73% and a return on equity of 15.77%. The business’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.23 earnings per share. equities research analysts forecast that Novartis AG will post 4.75 earnings per share for the current year.

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Novartis Company 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.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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