Miller Howard Investments Inc. NY Makes New Investment in Novartis AG $NVS

Miller Howard Investments Inc. NY bought a new stake in Novartis AG (NYSE:NVS) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 229,623 shares of the company’s stock, valued at approximately $32,737,000.

Several other hedge funds have also recently made changes to their positions in NVS. Bank of America Corp DE boosted its position in Novartis by 9.1% during the first quarter. Bank of America Corp DE now owns 4,962,794 shares of the company’s stock worth $758,067,000 after purchasing an additional 413,778 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Novartis by 0.8% in the second quarter. Envestnet Asset Management Inc. now owns 2,330,979 shares of the company’s stock worth $365,308,000 after purchasing an additional 19,595 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Novartis by 1.9% in the first quarter. Janus Henderson Group PLC now owns 2,275,938 shares of the company’s stock worth $347,649,000 after purchasing an additional 41,520 shares in the last quarter. WCM Investment Management LLC bought a new stake in shares of Novartis in the first quarter valued at approximately $220,004,000. Finally, Sei Investments Co. raised its position in shares of Novartis by 9.6% in the first quarter. Sei Investments Co. now owns 619,274 shares of the company’s stock valued at $94,594,000 after purchasing an additional 54,262 shares during the period. 13.12% of the stock is currently owned by institutional investors.

Novartis Price Performance

NVS stock opened at $153.93 on Tuesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.86 and a quick ratio of 0.67. Novartis AG has a one year low of $121.57 and a one year high of $170.46. The stock has a market cap of $293.72 billion, a PE ratio of 23.22, a P/E/G ratio of 2.74 and a beta of 0.41. The firm has a 50 day simple moving average of $148.13 and a two-hundred day simple moving average of $151.40.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on NVS shares. Berenberg Bank dropped their price target on shares of Novartis from $147.00 to $130.00 and set a “hold” rating on the stock in a research note on Friday, September 11th. Jefferies Financial Group reaffirmed a “neutral” rating on shares of Novartis in a report on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft reiterated a “neutral” rating on shares of Novartis in a research note on Thursday, September 17th. HSBC raised shares of Novartis from a “reduce” rating to a “hold” rating and boosted their target price for the company from $123.00 to $136.00 in a report on Thursday, September 10th. Finally, The Goldman Sachs Group restated a “sell” rating on shares of Novartis in a research report on Monday, September 21st. Six investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $145.60.

Novartis Profile

Novartis AG is a Switzerland-based pharmaceutical company focused on the discovery, development and commercialization of innovative medicines. The company’s research and commercial activities span areas including cardiovascular, renal and metabolic diseases, immunology, neuroscience, oncology and hematology. Its portfolio includes prescription medicines such as Entresto, Cosentyx, Kisqali, Kesimpta, Leqvio, Pluvicto and Scemblix.

Novartis serves patients and healthcare providers in markets around the world.