Russell Investments Group Ltd. grew its holdings in Novartis AG (NYSE:NVS) by 2.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 85,752 shares of the company’s stock after acquiring an additional 2,200 shares during the period. Russell Investments Group Ltd.’s holdings in Novartis were worth $7,820,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of NVS. Harvest Group Wealth Management LLC acquired a new stake in Novartis during the 1st quarter valued at $27,000. Asset Dedication LLC grew its stake in Novartis by 98.7% during the 2nd quarter. Asset Dedication LLC now owns 304 shares of the company’s stock valued at $27,000 after purchasing an additional 151 shares in the last quarter. Vigilant Capital Management LLC acquired a new stake in Novartis during the 2nd quarter valued at approximately $37,000. Manchester Financial Inc. acquired a new stake in Novartis during the 2nd quarter valued at approximately $45,000. Finally, McIlrath & Eck LLC increased its holdings in Novartis by 42.8% during the 1st quarter. McIlrath & Eck LLC now owns 514 shares of the company’s stock worth $49,000 after purchasing an additional 154 shares during the last quarter. 11.21% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE NVS traded up $0.14 during trading on Wednesday, reaching $88.68. The stock had a trading volume of 464,174 shares, compared to its average volume of 1,414,769. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.74 and a current ratio of 0.94. The stock has a market cap of $203.04 billion, a PE ratio of 17.42, a P/E/G ratio of 2.03 and a beta of 0.58. Novartis AG has a one year low of $71.86 and a one year high of $95.00. The firm’s 50 day moving average price is $90.36 and its two-hundred day moving average price is $88.65.

Novartis (NYSE:NVS) last announced its quarterly earnings data on Thursday, July 18th. The company reported $1.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.14. Novartis had a return on equity of 18.55% and a net margin of 23.27%. The firm had revenue of $11.76 billion for the quarter, compared to analysts’ expectations of $11.45 billion. During the same period last year, the business posted $1.29 earnings per share. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, research analysts expect that Novartis AG will post 5.15 earnings per share for the current year.

Several equities analysts have recently commented on NVS shares. Kepler Capital Markets cut Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Zacks Investment Research lowered shares of Novartis from a “buy” rating to a “hold” rating and set a $100.00 price target for the company. in a research note on Friday, July 19th. JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of Novartis in a report on Friday, July 5th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Novartis in a report on Thursday, August 29th. Finally, Argus increased their price objective on shares of Novartis to $105.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $93.29.

Novartis Company Profile

Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology and dermatology, respiratory, cardio-metabolic, and established medicine products.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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