M&T Bank Corp Boosts Stock Holdings in Novartis AG (NYSE:NVS)

M&T Bank Corp raised its holdings in shares of Novartis AG (NYSE:NVS) by 1.8% during the second quarter, HoldingsChannel reports. The firm owned 239,332 shares of the company’s stock after purchasing an additional 4,247 shares during the period. M&T Bank Corp’s holdings in Novartis were worth $20,904,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of NVS. Mawer Investment Management Ltd. increased its position in Novartis by 27.9% during the 1st quarter. Mawer Investment Management Ltd. now owns 7,721,327 shares of the company’s stock valued at $636,623,000 after purchasing an additional 1,684,503 shares during the period. Fred Alger Management LLC boosted its holdings in shares of Novartis by 209.5% in the 1st quarter. Fred Alger Management LLC now owns 1,530,180 shares of the company’s stock valued at $126,163,000 after buying an additional 1,035,740 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Novartis by 34.6% in the 1st quarter. Morgan Stanley now owns 3,755,914 shares of the company’s stock valued at $309,675,000 after buying an additional 965,770 shares in the last quarter. Capital International Investors boosted its holdings in shares of Novartis by 157.4% in the 1st quarter. Capital International Investors now owns 1,146,936 shares of the company’s stock valued at $94,565,000 after buying an additional 701,358 shares in the last quarter. Finally, Two Sigma Investments LP bought a new stake in shares of Novartis in the 1st quarter valued at about $25,588,000. 10.80% of the stock is currently owned by institutional investors and hedge funds.

NVS stock opened at $82.14 on Friday. The firm has a 50 day moving average of $87.16 and a 200 day moving average of $87.43. The stock has a market capitalization of $192.78 billion, a PE ratio of 26.16, a price-to-earnings-growth ratio of 1.82 and a beta of 0.50. The company has a quick ratio of 0.58, a current ratio of 0.81 and a debt-to-equity ratio of 0.48. Novartis AG has a 52 week low of $69.18 and a 52 week high of $99.84.

Novartis (NYSE:NVS) last released its earnings results on Tuesday, July 21st. The company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.05. Novartis had a net margin of 14.96% and a return on equity of 24.14%. The company had revenue of $11.35 billion during the quarter, compared to analysts’ expectations of $11.77 billion. During the same period last year, the business earned $1.34 EPS. Novartis’s revenue for the quarter was down 3.5% on a year-over-year basis. On average, equities research analysts expect that Novartis AG will post 5.67 earnings per share for the current year.

A number of analysts have recently weighed in on the stock. Citigroup upgraded shares of Novartis from a “neutral” rating to a “buy” rating in a report on Monday, June 15th. ValuEngine cut shares of Novartis from a “hold” rating to a “sell” rating in a report on Friday, June 5th. UBS Group restated a “neutral” rating on shares of Novartis in a report on Monday, May 11th. Barclays reiterated an “underweight” rating on shares of Novartis in a research note on Wednesday, April 29th. Finally, Morgan Stanley reiterated an “equal weight” rating on shares of Novartis in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. Novartis currently has an average rating of “Hold” and a consensus target price of $108.00.

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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