Tyers Asset Management LLC increased its position in Novartis AG (NYSE:NVS) by 109.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,862 shares of the company’s stock after acquiring an additional 8,294 shares during the period. Tyers Asset Management LLC’s holdings in Novartis were worth $1,448,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Winslow Evans & Crocker Inc. lifted its position in shares of Novartis by 11.8% in the second quarter. Winslow Evans & Crocker Inc. now owns 1,084 shares of the company’s stock valued at $102,000 after acquiring an additional 114 shares in the last quarter. PagnatoKarp Partners LLC lifted its holdings in Novartis by 0.6% in the 2nd quarter. PagnatoKarp Partners LLC now owns 18,887 shares of the company’s stock valued at $1,725,000 after purchasing an additional 115 shares in the last quarter. Old Port Advisors boosted its stake in shares of Novartis by 4.5% during the 2nd quarter. Old Port Advisors now owns 2,722 shares of the company’s stock worth $252,000 after purchasing an additional 116 shares during the last quarter. IHT Wealth Management LLC boosted its stake in shares of Novartis by 3.6% during the 2nd quarter. IHT Wealth Management LLC now owns 3,514 shares of the company’s stock worth $321,000 after purchasing an additional 123 shares during the last quarter. Finally, Stratos Wealth Partners LTD. grew its holdings in shares of Novartis by 1.2% during the first quarter. Stratos Wealth Partners LTD. now owns 10,631 shares of the company’s stock worth $1,022,000 after buying an additional 125 shares in the last quarter. 11.21% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE NVS traded up $0.35 on Wednesday, reaching $88.89. 55,074 shares of the company traded hands, compared to its average volume of 1,414,769. The stock has a market capitalization of $203.04 billion, a PE ratio of 17.46, a P/E/G ratio of 2.03 and a beta of 0.58. Novartis AG has a fifty-two week low of $71.86 and a fifty-two week high of $95.00. The company has a current ratio of 0.94, a quick ratio of 0.74 and a debt-to-equity ratio of 0.43. The company has a 50 day moving average of $90.36 and a 200 day moving average of $88.65.

Novartis (NYSE:NVS) last released its earnings results 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 net margin of 23.27% and a return on equity of 18.55%. The business had revenue of $11.76 billion for the quarter, compared to analysts’ expectations of $11.45 billion. During the same period last year, the company earned $1.29 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, research analysts expect that Novartis AG will post 5.15 earnings per share for the current year.

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