15,169 Shares in Novartis AG (NVS) Acquired by Marshall Wace LLP
Marshall Wace LLP purchased a new position in shares of Novartis AG (NYSE:NVS) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 15,169 shares of the company’s stock, valued at approximately $1,259,000.
A number of other hedge funds also recently made changes to their positions in NVS. Parnassus Investments CA raised its position in Novartis AG by 89.4% in the first quarter. Parnassus Investments CA now owns 8,173,974 shares of the company’s stock worth $593,720,000 after buying an additional 3,858,632 shares in the last quarter. BlackRock Inc. acquired a new position in Novartis AG during the first quarter worth approximately $210,378,000. Janus Capital Management LLC raised its position in Novartis AG by 34,406.2% in the first quarter. Janus Capital Management LLC now owns 1,759,816 shares of the company’s stock worth $130,696,000 after buying an additional 1,754,716 shares in the last quarter. Wells Fargo & Company MN raised its position in Novartis AG by 12.2% in the first quarter. Wells Fargo & Company MN now owns 9,100,801 shares of the company’s stock worth $675,917,000 after buying an additional 988,301 shares in the last quarter. Finally, Karp Capital Management Corp acquired a new position in Novartis AG during the first quarter worth approximately $51,745,000. Hedge funds and other institutional investors own 10.97% of the company’s stock.
Novartis AG (NYSE NVS) opened at 82.74 on Thursday. Novartis AG has a 52 week low of $66.93 and a 52 week high of $86.90. The stock’s 50 day moving average price is $83.94 and its 200 day moving average price is $79.45. The firm has a market cap of $193.85 billion, a price-to-earnings ratio of 30.21 and a beta of 0.73.
Novartis AG (NYSE:NVS) last posted its earnings results on Tuesday, July 18th. The company reported $1.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.06. The company had revenue of $12.24 billion during the quarter, compared to analyst estimates of $12.20 billion. Novartis AG had a net margin of 13.52% and a return on equity of 15.51%. Novartis AG’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.23 earnings per share. On average, equities research analysts predict that Novartis AG will post $4.74 EPS for the current year.
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A number of equities analysts have commented on the company. UBS AG reissued a “neutral” rating on shares of Novartis AG in a research note on Tuesday, May 30th. BidaskClub lowered Novartis AG from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. J P Morgan Chase & Co reissued a “neutral” rating on shares of Novartis AG in a research note on Thursday, June 8th. Cowen and Company set a $90.00 price objective on Novartis AG and gave the stock a “hold” rating in a research note on Wednesday, August 9th. Finally, TheStreet raised Novartis AG from a “c+” rating to a “b” rating in a research note on Friday, June 2nd. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $83.56.
In related news, major shareholder Bioventures Ltd Novartis acquired 266,667 shares of the stock in a transaction on Wednesday, July 5th. The stock was acquired at an average cost of $15.00 per share, for a total transaction of $4,000,005.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.01% of the company’s stock.
Novartis AG Company Profile
Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.
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