Moreno Evelyn V lifted its position in Novartis AG (NYSE:NVS) by 0.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,548 shares of the company’s stock after acquiring an additional 332 shares during the period. Novartis accounts for 2.3% of Moreno Evelyn V’s holdings, making the stock its 18th largest position. Moreno Evelyn V’s holdings in Novartis were worth $7,629,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Primecap Management Co. CA raised its position in Novartis by 4.2% in the first quarter. Primecap Management Co. CA now owns 23,857,216 shares of the company’s stock valued at $2,293,633,000 after purchasing an additional 969,985 shares during the period. FMR LLC raised its holdings in shares of Novartis by 23.7% in the 1st quarter. FMR LLC now owns 8,678,552 shares of the company’s stock valued at $834,356,000 after buying an additional 1,662,505 shares during the period. Fisher Asset Management LLC raised its holdings in shares of Novartis by 3.1% in the 2nd quarter. Fisher Asset Management LLC now owns 8,067,235 shares of the company’s stock valued at $736,619,000 after buying an additional 244,544 shares during the period. Mawer Investment Management Ltd. raised its holdings in shares of Novartis by 19.2% in the 1st quarter. Mawer Investment Management Ltd. now owns 5,680,653 shares of the company’s stock valued at $546,138,000 after buying an additional 916,167 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in shares of Novartis by 5.0% in the 2nd quarter. Janus Henderson Group PLC now owns 3,903,956 shares of the company’s stock valued at $356,470,000 after buying an additional 186,461 shares during the period. 11.87% of the stock is currently owned by institutional investors.
NYSE NVS traded down $0.25 during trading hours on Thursday, hitting $88.76. 106,077 shares of the company were exchanged, compared to its average volume of 2,529,997. The company’s 50 day simple moving average is $91.33. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.74 and a current ratio of 0.94. Novartis AG has a 52-week low of $71.33 and a 52-week high of $95.00. The firm has a market capitalization of $202.40 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 2.07 and a beta of 0.58.
Several research firms recently issued reports on NVS. JPMorgan Chase & Co. reiterated a “sell” rating on shares of Novartis in a report on Friday, July 5th. Liberum Capital upgraded Novartis from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. Guggenheim upgraded Novartis from a “neutral” rating to a “buy” rating and set a $79.16 price objective on the stock in a report on Wednesday, April 24th. Argus boosted their price objective on Novartis to $105.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded Novartis from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a report on Friday, July 19th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $90.63.
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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