Neuberger Berman Group LLC Boosts Stake in Novartis AG (NYSE:NVS)

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Neuberger Berman Group LLC boosted its stake in Novartis AG (NYSE:NVS) by 20.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,492,252 shares of the company’s stock after buying an additional 431,326 shares during the quarter. Neuberger Berman Group LLC owned approximately 0.11% of Novartis worth $217,686,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Mattern Wealth Management LLC raised its holdings in Novartis by 12.3% in the 1st quarter. Mattern Wealth Management LLC now owns 11,400 shares of the company’s stock valued at $940,000 after acquiring an additional 1,245 shares during the last quarter. EP Wealth Advisors LLC raised its holdings in Novartis by 2.6% in the 1st quarter. EP Wealth Advisors LLC now owns 7,949 shares of the company’s stock valued at $655,000 after acquiring an additional 202 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in Novartis by 22.2% in the 1st quarter. Mercer Global Advisors Inc. ADV now owns 81,921 shares of the company’s stock valued at $6,754,000 after acquiring an additional 14,901 shares during the last quarter. Capital World Investors raised its holdings in Novartis by 68.7% in the 1st quarter. Capital World Investors now owns 336,883 shares of the company’s stock valued at $27,770,000 after acquiring an additional 137,138 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Novartis by 255.0% during the 1st quarter. Tower Research Capital LLC TRC now owns 4,388 shares of the company’s stock worth $362,000 after buying an additional 3,152 shares during the last quarter. 10.37% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have recently issued reports on NVS shares. ValuEngine downgraded shares of Novartis from a “hold” rating to a “sell” rating in a report on Friday, June 5th. UBS Group upgraded shares of Novartis from a “neutral” rating to a “buy” rating in a report on Thursday, September 10th. JPMorgan Chase & Co. restated an “underweight” rating on shares of Novartis in a report on Wednesday, August 12th. Morgan Stanley upgraded shares of Novartis from an “equal weight” rating to an “overweight” rating in a report on Tuesday, September 1st. Finally, Citigroup raised shares of Novartis from a “neutral” rating to a “buy” rating in a research report on Monday, June 15th. Three analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. Novartis currently has a consensus rating of “Hold” and an average price target of $108.00.

NVS stock traded down $1.02 during midday trading on Wednesday, hitting $89.98. The company’s stock had a trading volume of 109,031 shares, compared to its average volume of 2,152,445. The firm has a 50-day simple moving average of $85.54 and a 200-day simple moving average of $85.19. The firm has a market capitalization of $206.05 billion, a P/E ratio of 28.68, a PEG ratio of 1.89 and a beta of 0.45. 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 announced its quarterly earnings data on Tuesday, July 21st. The company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.05. The business had revenue of $11.35 billion for the quarter, compared to analysts’ expectations of $11.77 billion. Novartis had a return on equity of 24.14% and a net margin of 14.96%. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period last year, the firm earned $1.34 earnings per share. On average, sell-side analysts expect that Novartis AG will post 5.72 earnings per share for the current fiscal year.

Novartis 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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