Keybank National Association OH Purchases 5,742 Shares of Novartis AG $NVS

Keybank National Association OH lifted its stake in Novartis AG (NYSE:NVS) by 13.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,377 shares of the company’s stock after buying an additional 5,742 shares during the period. Keybank National Association OH’s holdings in Novartis were worth $5,975,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in NVS. Goldman Sachs Group Inc. boosted its stake in shares of Novartis by 60.3% in the first quarter. Goldman Sachs Group Inc. now owns 3,660,485 shares of the company’s stock valued at $408,071,000 after buying an additional 1,377,252 shares during the period. New Vernon Capital Holdings II LLC boosted its stake in shares of Novartis by 12,664.1% in the first quarter. New Vernon Capital Holdings II LLC now owns 1,383,244 shares of the company’s stock valued at $154,204,000 after buying an additional 1,372,407 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Novartis by 5.2% in the first quarter. Dimensional Fund Advisors LP now owns 8,606,724 shares of the company’s stock valued at $959,535,000 after buying an additional 422,869 shares during the period. Cookson Peirce & Co. Inc. bought a new stake in shares of Novartis in the first quarter valued at approximately $24,763,000. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Novartis by 8.0% in the second quarter. Envestnet Asset Management Inc. now owns 1,736,891 shares of the company’s stock valued at $210,181,000 after buying an additional 128,302 shares during the period. 13.12% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Cfra set a $126.00 price target on Novartis and gave the company a “hold” rating in a research note on Wednesday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Novartis in a research note on Friday. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Novartis in a research report on Thursday, August 21st. HC Wainwright downgraded shares of Novartis to a “neutral” rating in a research report on Monday. Finally, Wall Street Zen downgraded shares of Novartis from a “strong-buy” rating to a “hold” rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Novartis presently has a consensus rating of “Hold” and a consensus price target of $122.33.

Novartis Stock Up 1.1%

Shares of NVS opened at $123.92 on Friday. Novartis AG has a one year low of $96.06 and a one year high of $133.55. The company has a market cap of $261.77 billion, a P/E ratio of 16.93, a P/E/G ratio of 1.93 and a beta of 0.64. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.88 and a quick ratio of 0.62. The firm has a 50 day simple moving average of $127.37 and a two-hundred day simple moving average of $120.13.

Novartis (NYSE:NVS) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.26 by ($0.01). The company had revenue of $13.91 billion for the quarter, compared to analyst estimates of $13.70 billion. Novartis had a return on equity of 41.21% and a net margin of 26.49%.The firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the company posted $2.06 earnings per share. Research analysts forecast that Novartis AG will post 8.45 EPS for the current fiscal year.

Novartis Profile

Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.