Conning Inc. Has $733,000 Holdings in Novartis AG (NVS)

Conning Inc. boosted its position in Novartis AG (NYSE:NVS) by 133.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,535 shares of the company’s stock after purchasing an additional 4,875 shares during the period. Conning Inc.’s holdings in Novartis AG were worth $733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NVS. BlackRock Inc. bought a new stake in Novartis AG in the first quarter worth about $210,378,000. Janus Henderson Group PLC lifted its stake in Novartis AG by 42,797.5% in the second quarter. Janus Henderson Group PLC now owns 1,914,516 shares of the company’s stock worth $159,821,000 after purchasing an additional 1,910,053 shares during the last quarter. Janus Capital Management LLC lifted its stake in Novartis AG by 34,406.2% in the first quarter. Janus Capital Management LLC now owns 1,759,816 shares of the company’s stock worth $130,696,000 after purchasing an additional 1,754,716 shares during the last quarter. FMR LLC lifted its stake in Novartis AG by 172.1% in the second quarter. FMR LLC now owns 2,294,782 shares of the company’s stock worth $191,546,000 after purchasing an additional 1,451,441 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new stake in Novartis AG in the second quarter worth about $71,606,000. 10.94% of the stock is owned by institutional investors and hedge funds.

Novartis AG (NYSE:NVS) last issued its quarterly earnings data on Tuesday, October 24th. The company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.25 by $0.04. Novartis AG had a net margin of 13.73% and a return on equity of 15.77%. The firm had revenue of $12.41 billion for the quarter, compared to analyst estimates of $12.21 billion. During the same period in the prior year, the business posted $1.23 EPS. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year.

NVS has been the subject of several analyst reports. J P Morgan Chase & Co reissued a “neutral” rating on shares of Novartis AG in a research note on Tuesday, September 5th. Zacks Investment Research raised shares of Novartis AG from a “sell” rating to a “hold” rating in a research note on Thursday, October 26th. Leerink Swann raised their price objective on shares of Novartis AG from $89.00 to $91.00 and gave the stock a “market perform” rating in a research note on Monday, October 23rd. BidaskClub raised shares of Novartis AG from a “sell” rating to a “hold” rating in a research note on Saturday, August 5th. Finally, Cowen and Company reissued a “hold” rating on shares of Novartis AG in a research note on Tuesday, July 18th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $85.28.

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Novartis AG Company 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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