Sei Investments Co. Has $94.88 Million Position in Novartis AG (NVS)
Sei Investments Co. increased its stake in Novartis AG (NYSE:NVS) by 1.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,130,096 shares of the company’s stock after purchasing an additional 21,115 shares during the quarter. Sei Investments Co.’s holdings in Novartis were worth $94,884,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp grew its stake in Novartis 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 acquiring an additional 68,834 shares in the last quarter. Westwood Holdings Group Inc. grew its stake in Novartis by 432.6% during the 2nd quarter. Westwood Holdings Group Inc. now owns 28,785 shares of the company’s stock valued at $2,403,000 after acquiring an additional 23,380 shares in the last quarter. National Asset Management Inc. purchased a new position in Novartis during the 2nd quarter valued at about $256,000. Colony Group LLC purchased a new position in Novartis during the 2nd quarter valued at about $224,000. Finally, Advisory Services Network LLC grew its stake in Novartis by 151.2% during the 2nd quarter. Advisory Services Network LLC now owns 15,448 shares of the company’s stock valued at $1,289,000 after acquiring an additional 9,299 shares in the last quarter. 11.06% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have weighed in on the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Novartis in a research note on Tuesday, October 24th. Nord/LB reaffirmed a “neutral” rating on shares of Novartis in a research note on Tuesday, January 2nd. Barclays cut Novartis from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, October 25th. Leerink Swann lifted their target price on Novartis from $89.00 to $91.00 and gave the company a “market perform” rating in a research note on Monday, October 23rd. Finally, UBS Group reaffirmed a “neutral” rating on shares of Novartis in a research note on Monday, January 15th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $85.32.
Novartis (NYSE:NVS) last announced its quarterly earnings results on Wednesday, January 24th. The company reported $1.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.04. The business had revenue of $12.92 billion during the quarter, compared to analyst estimates of $12.65 billion. Novartis had a return on equity of 16.03% and a net margin of 15.69%. The firm’s revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.14 EPS. sell-side analysts anticipate that Novartis AG will post 5.36 earnings per share for the current year.
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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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