Allianz Asset Management GmbH lifted its position in shares of Novartis AG (NYSE:NVS) by 385.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 208,716 shares of the company’s stock after buying an additional 165,735 shares during the quarter. Allianz Asset Management GmbH’s holdings in Novartis were worth $17,983,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in NVS. Charles Schwab Investment Advisory Inc. purchased a new position in shares of Novartis during the second quarter valued at approximately $297,538,000. Renaissance Technologies LLC lifted its stake in shares of Novartis by 89.3% during the second quarter. Renaissance Technologies LLC now owns 3,856,288 shares of the company’s stock valued at $291,304,000 after buying an additional 1,819,590 shares during the period. Eagle Asset Management Inc. lifted its stake in shares of Novartis by 5,739.0% during the third quarter. Eagle Asset Management Inc. now owns 843,622 shares of the company’s stock valued at $72,686,000 after buying an additional 829,174 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Novartis by 29.3% during the third quarter. Janus Henderson Group PLC now owns 3,267,352 shares of the company’s stock valued at $281,515,000 after buying an additional 741,373 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Novartis by 526.2% during the third quarter. Bank of New York Mellon Corp now owns 635,797 shares of the company’s stock valued at $54,780,000 after buying an additional 534,268 shares during the period. 11.20% of the stock is currently owned by institutional investors and hedge funds.

NYSE:NVS opened at $87.08 on Friday. The company has a current ratio of 1.20, a quick ratio of 0.96 and a debt-to-equity ratio of 0.29. The company has a market cap of $209.68 billion, a price-to-earnings ratio of 18.10, a P/E/G ratio of 2.01 and a beta of 0.74. Novartis AG has a fifty-two week low of $72.30 and a fifty-two week high of $94.19.

Novartis (NYSE:NVS) last posted its quarterly earnings results on Thursday, October 18th. The company reported $1.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.01. The company had revenue of $12.78 billion for the quarter, compared to the consensus estimate of $12.88 billion. Novartis had a net margin of 25.98% and a return on equity of 15.81%. Novartis’s revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.29 earnings per share. On average, equities analysts predict that Novartis AG will post 5.17 earnings per share for the current fiscal year.

Several equities analysts recently issued reports on the stock. Barclays downgraded shares of Novartis from an “equal weight” rating to a “sell” rating in a research note on Friday. BNP Paribas raised 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 set an “outperform” rating on the stock. Exane BNP Paribas raised shares of Novartis from an “underperform” rating to a “neutral” rating in a research note on Tuesday, September 11th. Finally, Zacks Investment Research raised shares of Novartis from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a research note on Tuesday, September 18th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $85.91.

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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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