Quantbot Technologies LP Has $6.87 Million Stake in Novartis AG (NVS)

Quantbot Technologies LP grew its position in Novartis AG (NYSE:NVS) by 273.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,294 shares of the company’s stock after purchasing an additional 60,286 shares during the quarter. Novartis AG makes up 0.6% of Quantbot Technologies LP’s investment portfolio, making the stock its 21st largest position. Quantbot Technologies LP’s holdings in Novartis AG were worth $6,869,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Primecap Management Co. CA raised its holdings in shares of Novartis AG by 2.1% in the 1st quarter. Primecap Management Co. CA now owns 21,693,804 shares of the company’s stock valued at $1,611,199,000 after purchasing an additional 446,976 shares in the last quarter. Bank of America Corp DE grew its position in shares of Novartis AG by 7.5% in the 1st quarter. Bank of America Corp DE now owns 7,328,730 shares of the company’s stock valued at $544,304,000 after buying an additional 508,435 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Novartis AG by 6.3% in the 2nd quarter. Fisher Asset Management LLC now owns 6,505,935 shares of the company’s stock valued at $543,050,000 after buying an additional 384,262 shares during the last quarter. Loomis Sayles & Co. L P grew its position in shares of Novartis AG by 0.7% in the 1st quarter. Loomis Sayles & Co. L P now owns 6,241,239 shares of the company’s stock valued at $463,537,000 after buying an additional 41,762 shares during the last quarter. Finally, BlackRock Inc. grew its position in shares of Novartis AG by 25.3% in the 2nd quarter. BlackRock Inc. now owns 3,549,783 shares of the company’s stock valued at $296,299,000 after buying an additional 717,186 shares during the last quarter. Institutional investors and hedge funds own 10.93% of the company’s stock.

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A number of research firms recently commented on NVS. Zacks Investment Research raised shares of Novartis AG from a “hold” rating to a “buy” rating and set a $96.00 target price on the stock in a research report on Tuesday. Leerink Swann reaffirmed a “market perform” rating and issued a $83.00 target price on shares of Novartis AG in a research report on Thursday, June 22nd. Morgan Stanley reaffirmed a “sell” rating on shares of Novartis AG in a research report on Tuesday, June 6th. UBS AG reaffirmed a “neutral” rating on shares of Novartis AG in a research report on Wednesday, May 24th. Finally, Credit Suisse Group downgraded shares of Novartis AG from a “neutral” rating to an “underperform” rating and set a $82.25 target price on the stock. in a research report on Wednesday, July 5th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $85.12.

Shares of Novartis AG (NVS) traded down 0.6471% on Thursday, reaching $85.2249. 692,492 shares of the company’s stock traded hands. The company has a 50 day moving average of $84.30 and a 200-day moving average of $80.50. The stock has a market capitalization of $199.67 billion, a PE ratio of 31.1153 and a beta of 0.74. Novartis AG has a 52 week low of $66.93 and a 52 week high of $86.90.

Novartis AG (NYSE:NVS) last issued its earnings results on Tuesday, July 18th. The company reported $1.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.06. The company had revenue of $12.24 billion for the quarter, compared to analysts’ expectations of $12.20 billion. Novartis AG had a net margin of 13.52% and a return on equity of 15.51%. The firm’s revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.23 earnings per share. Equities research analysts forecast that Novartis AG will post $4.75 earnings per share for the current year.

In other Novartis AG news, major shareholder Bioventures Ltd Novartis bought 266,667 shares of the company’s stock in a transaction on Wednesday, July 5th. The shares were bought at an average cost of $15.00 per share, with a total value of $4,000,005.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.01% of the stock is currently owned by corporate insiders.

Novartis AG Profile

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.

Institutional Ownership by Quarter for Novartis AG (NYSE:NVS)

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