Novartis AG (NVS) Stake Boosted by Golub Group LLC

Golub Group LLC increased its stake in shares of Novartis AG (NYSE:NVS) by 0.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 461,171 shares of the company’s stock after acquiring an additional 1,077 shares during the quarter. Novartis comprises approximately 3.4% of Golub Group LLC’s holdings, making the stock its 13th largest holding. Golub Group LLC’s holdings in Novartis were worth $39,734,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in NVS. Trexquant Investment LP bought a new stake in Novartis in the 3rd quarter valued at $2,461,000. FMR LLC boosted its stake in shares of Novartis by 9.9% in the 3rd quarter. FMR LLC now owns 1,295,397 shares of the company’s stock valued at $111,611,000 after purchasing an additional 116,454 shares in the last quarter. Hayek Kallen Investment Management boosted its stake in shares of Novartis by 1.7% in the 3rd quarter. Hayek Kallen Investment Management now owns 48,634 shares of the company’s stock valued at $3,932,000 after purchasing an additional 823 shares in the last quarter. Girard Partners LTD. acquired a new stake in shares of Novartis in the 3rd quarter valued at $202,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Novartis by 526.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 635,797 shares of the company’s stock valued at $54,780,000 after purchasing an additional 534,268 shares in the last quarter. 10.99% of the stock is currently owned by institutional investors and hedge funds.

NVS has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Novartis from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a research note on Tuesday, September 18th. Citigroup upgraded shares of Novartis from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 11th. Bank of America upgraded shares of Novartis from an “underperform” rating to a “buy” rating and set a $74.71 target price on the stock in a research note on Monday, September 10th. Exane BNP Paribas upgraded shares of Novartis from an “underperform” rating to a “neutral” rating in a research note on Tuesday, September 11th. Finally, Wolfe Research initiated coverage on shares of Novartis in a research note on Tuesday, October 23rd. They issued an “outperform” rating on the stock. Eleven equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Novartis has an average rating of “Hold” and a consensus price target of $84.86.

Shares of NYSE:NVS opened at $89.03 on Friday. The firm has a market capitalization of $206.32 billion, a PE ratio of 18.51, a PEG ratio of 1.97 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 results on Thursday, October 18th. The company reported $1.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.01. The business had revenue of $12.78 billion for the quarter, compared to the consensus estimate of $12.88 billion. Novartis had a net margin of 25.98% and a return on equity of 15.81%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.29 EPS. On average, sell-side analysts forecast that Novartis AG will post 5.17 EPS for the current year.

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About Novartis

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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