NumerixS Investment Technologies Inc bought a new position in shares of Novartis AG (NYSE:NVS) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,200 shares of the company’s stock, valued at approximately $475,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tranquility Partners LLC acquired a new position in Novartis in the second quarter valued at about $429,000. Qtron Investments LLC acquired a new position in Novartis in the second quarter valued at about $529,000. Bowen Hanes & Co. Inc. raised its stake in Novartis by 56.8% in the second quarter. Bowen Hanes & Co. Inc. now owns 9,496 shares of the company’s stock valued at $867,000 after purchasing an additional 3,440 shares in the last quarter. Scharf Investments LLC raised its stake in Novartis by 46.4% in the second quarter. Scharf Investments LLC now owns 1,278,557 shares of the company’s stock valued at $116,745,000 after purchasing an additional 405,449 shares in the last quarter. Finally, HighTower Advisors LLC raised its stake in Novartis by 9.4% in the second quarter. HighTower Advisors LLC now owns 213,595 shares of the company’s stock valued at $19,525,000 after purchasing an additional 18,413 shares in the last quarter. 11.17% of the stock is owned by institutional investors.

A number of research analysts recently commented on NVS shares. Kepler Capital Markets downgraded Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Zacks Investment Research cut Novartis from a “buy” rating to a “hold” rating and set a $100.00 target price on the stock. in a research report on Friday, July 19th. JPMorgan Chase & Co. reiterated a “sell” rating on shares of Novartis in a research report on Friday, July 5th. Argus lifted their target price on 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. Finally, ValuEngine cut Novartis from a “hold” rating to a “sell” rating in a research report on Thursday, September 12th. Five equities research analysts have rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $93.29.

Shares of NYSE:NVS traded up $0.34 during midday trading on Tuesday, hitting $86.48. 75,965 shares of the stock were exchanged, compared to its average volume of 1,526,559. The stock has a market capitalization of $198.16 billion, a price-to-earnings ratio of 16.99, a P/E/G ratio of 1.97 and a beta of 0.58. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.74 and a current ratio of 0.94. The business’s 50-day moving average price is $89.79 and its 200 day moving average price is $88.55. Novartis AG has a 12 month low of $71.86 and a 12 month high of $95.00.

Novartis (NYSE:NVS) last released its quarterly earnings results on Thursday, July 18th. The company reported $1.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.14. The company had revenue of $11.76 billion for the quarter, compared to analysts’ expectations of $11.45 billion. Novartis had a return on equity of 18.55% and a net margin of 23.27%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.29 earnings per share. As a group, sell-side analysts expect that Novartis AG will post 5.15 EPS for the current year.

About Novartis

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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