Novartis AG (NVS) Stake Boosted by Parnassus Investments CA
Parnassus Investments CA grew its holdings in shares of Novartis AG (NYSE:NVS) by 18.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,447,817 shares of the company’s stock after buying an additional 1,477,168 shares during the period. Novartis AG accounts for 3.3% of Parnassus Investments CA’s portfolio, making the stock its 7th biggest position. Parnassus Investments CA owned approximately 0.40% of Novartis AG worth $811,095,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Norris Perne & French LLP MI increased its stake in shares of Novartis AG by 2.0% during the third quarter. Norris Perne & French LLP MI now owns 121,159 shares of the company’s stock valued at $10,402,000 after buying an additional 2,356 shares during the period. Nwam LLC increased its stake in shares of Novartis AG by 16.0% during the third quarter. Nwam LLC now owns 4,463 shares of the company’s stock valued at $383,000 after buying an additional 614 shares during the period. Stevens Capital Management LP purchased a new position in shares of Novartis AG during the third quarter valued at approximately $443,000. Compass Capital Management Inc. boosted its position in shares of Novartis AG by 0.5% during the third quarter. Compass Capital Management Inc. now owns 283,838 shares of the company’s stock valued at $24,367,000 after purchasing an additional 1,308 shares in the last quarter. Finally, Seatown Holdings Pte. Ltd. bought a new stake in shares of Novartis AG during the third quarter valued at approximately $10,246,000. 10.94% of the stock is currently owned by hedge funds and other institutional investors.
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Several equities research analysts recently weighed in on NVS shares. J P Morgan Chase & Co restated a “neutral” rating on shares of Novartis AG in a research report on Tuesday, September 5th. Zacks Investment Research upgraded Novartis AG from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Leerink Swann lifted their price target on Novartis AG from $89.00 to $91.00 and gave the company a “market perform” rating in a research report on Monday, October 23rd. BidaskClub upgraded Novartis AG from a “sell” rating to a “hold” rating in a research report on Saturday, August 5th. Finally, Cowen and Company restated a “hold” rating on shares of Novartis AG in a research report on Tuesday, July 18th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company’s stock. Novartis AG has a consensus rating of “Hold” and a consensus price target of $85.28.
Novartis AG (NYSE:NVS) traded down $0.13 during trading on Monday, reaching $83.57. The company’s stock had a trading volume of 280,780 shares, compared to its average volume of 2,304,039. The company has a quick ratio of 0.81, a current ratio of 1.08 and a debt-to-equity ratio of 0.32. Novartis AG has a twelve month low of $66.93 and a twelve month high of $86.90. The company has a market capitalization of $198,000.30, a P/E ratio of 17.62, a price-to-earnings-growth ratio of 2.67 and a beta of 0.72.
Novartis AG (NYSE:NVS) last released its earnings results on Tuesday, October 24th. The company reported $1.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.04. Novartis AG had a return on equity of 15.77% and a net margin of 13.73%. The business had revenue of $12.41 billion for the quarter, compared to the consensus estimate of $12.21 billion. During the same period in the previous year, the company posted $1.23 earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. equities analysts expect that Novartis AG will post 4.75 EPS for the current fiscal year.
About Novartis AG
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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