Bank of New York Mellon Corp Raises Stake in Novartis AG (NVS)

Bank of New York Mellon Corp grew its holdings in Novartis AG (NYSE:NVS) by 526.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 635,797 shares of the company’s stock after purchasing an additional 534,268 shares during the period. Bank of New York Mellon Corp’s holdings in Novartis were worth $54,780,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Glen Harbor Capital Management LLC increased its position in shares of Novartis by 13.0% during the second quarter. Glen Harbor Capital Management LLC now owns 10,816 shares of the company’s stock worth $817,000 after acquiring an additional 1,248 shares during the period. AMP Capital Investors Ltd purchased a new position in shares of Novartis during the second quarter worth approximately $2,878,000. Natixis purchased a new position in shares of Novartis during the second quarter worth approximately $333,000. Flagship Harbor Advisors LLC purchased a new position in shares of Novartis during the second quarter worth approximately $199,000. Finally, Cubist Systematic Strategies LLC increased its position in shares of Novartis by 227.9% during the second quarter. Cubist Systematic Strategies LLC now owns 20,638 shares of the company’s stock worth $1,559,000 after acquiring an additional 14,344 shares during the period. Institutional investors own 11.18% of the company’s stock.

A number of equities analysts have recently commented on NVS shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $105.00 target price on shares of Novartis in a research report on Tuesday, December 11th. Zacks Investment Research raised shares of Novartis from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a research report on Tuesday, September 18th. Goldman Sachs Group raised shares of Novartis from a “neutral” rating to a “conviction-buy” rating in a research report on Friday, November 16th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Novartis in a research report on Thursday, October 18th. Finally, Guggenheim assumed coverage on shares of Novartis in a research report on Monday, October 8th. They set a “neutral” rating on the stock. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $90.94.

Shares of NVS stock opened at $87.77 on Friday. The company has a market cap of $200.88 billion, a P/E ratio of 18.25, a price-to-earnings-growth ratio of 1.85 and a beta of 0.73. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.96 and a current ratio of 1.20. Novartis AG has a 52-week low of $72.30 and a 52-week high of $94.19.

Novartis (NYSE:NVS) last issued its quarterly earnings data on Thursday, October 18th. The company reported $1.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.01. The company had revenue of $12.78 billion for the quarter, compared to analyst estimates of $12.88 billion. Novartis had a net margin of 25.98% and a return on equity of 15.81%. Novartis’s revenue was up 2.9% compared to the same quarter last year. During the same period last year, the company posted $1.29 earnings per share. Sell-side analysts anticipate that Novartis AG will post 5.22 earnings per share for the current fiscal year.

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Novartis Company Profile

Novartis AG researches, develops, manufactures, and markets a range of healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines to enhance health outcomes for patients and health-care providers. This segment also commercializes products in the areas of oncology and rare diseases, ophthalmology, immunology and dermatology, neuroscience, respiratory, cardio-metabolic, and established medicines.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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