Forward Management LLC decreased its holdings in Novartis AG (NYSE:NVS) by 22.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 22,392 shares of the company’s stock after selling 6,485 shares during the quarter. Forward Management LLC’s holdings in Novartis were worth $1,929,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fisher Asset Management LLC lifted its position in shares of Novartis by 1.4% during the 3rd quarter. Fisher Asset Management LLC now owns 7,425,077 shares of the company’s stock worth $639,745,000 after buying an additional 99,816 shares in the last quarter. Boston Partners lifted its position in shares of Novartis by 106.0% during the 2nd quarter. Boston Partners now owns 5,606,630 shares of the company’s stock worth $423,525,000 after buying an additional 2,885,436 shares in the last quarter. Charles Schwab Investment Advisory Inc. bought a new position in shares of Novartis during the 2nd quarter worth approximately $297,538,000. Renaissance Technologies LLC lifted its position in shares of Novartis by 89.3% during the 2nd quarter. Renaissance Technologies LLC now owns 3,856,288 shares of the company’s stock worth $291,304,000 after buying an additional 1,819,590 shares in the last quarter. Finally, Mawer Investment Management Ltd. increased its stake in shares of Novartis by 2.2% during the 2nd quarter. Mawer Investment Management Ltd. now owns 2,968,452 shares of the company’s stock worth $224,237,000 after purchasing an additional 65,185 shares during the last quarter. 10.94% of the stock is currently owned by institutional investors and hedge funds.

Novartis stock opened at $88.23 on Tuesday. Novartis AG has a 1-year low of $72.30 and a 1-year high of $94.19. The company has a market capitalization of $206.76 billion, a P/E ratio of 18.34, a price-to-earnings-growth ratio of 1.97 and a beta of 0.73. The company has a quick ratio of 0.96, a current ratio of 1.20 and a debt-to-equity ratio of 0.29.

Novartis (NYSE:NVS) last announced its quarterly earnings results on Thursday, October 18th. The company reported $1.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.01. Novartis had a net margin of 25.98% and a return on equity of 15.81%. The firm had revenue of $12.78 billion during the quarter, compared to the consensus estimate of $12.88 billion. During the same period last year, the firm earned $1.29 EPS. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. Sell-side analysts forecast that Novartis AG will post 5.17 EPS for the current year.

NVS has been the subject of several research analyst reports. JPMorgan Chase & Co. restated a “neutral” rating on shares of Novartis in a research note on Thursday, October 11th. Zacks Investment Research lowered shares of Novartis from a “hold” rating to a “sell” rating in a research note on Wednesday, August 29th. BNP Paribas upgraded shares of Novartis from an “underperform” rating to a “neutral” rating in a research note on Tuesday, September 11th. Wolfe Research assumed coverage on shares of Novartis in a research note on Tuesday, October 23rd. They issued an “outperform” rating for the company. Finally, Bank of America upgraded shares of Novartis from an “underperform” rating to a “buy” rating and set a $74.71 price objective for the company in a research note on Monday, September 10th. Twelve analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $84.86.

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Novartis Company Profile

Novartis AG researches, develops, manufactures, and markets a range of healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines to enhance health outcomes for patients and health-care providers. This segment also commercializes products in the areas of oncology and rare diseases, ophthalmology, immunology and dermatology, neuroscience, respiratory, cardio-metabolic, and established medicines.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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