Logan Capital Management Inc. Purchases 1,822 Shares of Novartis AG (NYSE:NVS)

Logan Capital Management Inc. increased its position in Novartis AG (NYSE:NVSGet Rating) by 6.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,021 shares of the company’s stock after purchasing an additional 1,822 shares during the period. Logan Capital Management Inc.’s holdings in Novartis were worth $2,634,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Fisher Asset Management LLC lifted its holdings in shares of Novartis by 4.7% in the 1st quarter. Fisher Asset Management LLC now owns 10,871,033 shares of the company’s stock worth $953,933,000 after purchasing an additional 486,367 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Novartis by 4.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,399,213 shares of the company’s stock worth $386,031,000 after purchasing an additional 193,519 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Novartis by 12.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,357,362 shares of the company’s stock worth $382,359,000 after purchasing an additional 487,226 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Novartis by 12.7% in the 4th quarter. Renaissance Technologies LLC now owns 3,727,570 shares of the company’s stock worth $326,051,000 after purchasing an additional 420,333 shares in the last quarter. Finally, Cullen Capital Management LLC lifted its holdings in shares of Novartis by 17.6% in the 1st quarter. Cullen Capital Management LLC now owns 3,295,271 shares of the company’s stock worth $289,160,000 after purchasing an additional 492,643 shares in the last quarter. 9.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NVS. Oppenheimer cut Novartis from an “outperform” rating to a “market perform” rating in a report on Friday, June 3rd. Deutsche Bank Aktiengesellschaft lowered their price target on Novartis from CHF 80 to CHF 75 in a research report on Wednesday, June 29th. Morgan Stanley lowered their price target on Novartis from CHF 97 to CHF 88 in a research report on Thursday. JPMorgan Chase & Co. increased their price target on Novartis from CHF 80 to CHF 81 and gave the company an “underweight” rating in a research report on Wednesday, July 20th. Finally, Kepler Capital Markets raised Novartis from a “hold” rating to a “buy” rating and set a CHF 90 price target for the company in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $87.00.

Novartis Trading Up 1.6 %

Shares of Novartis stock opened at $82.60 on Friday. Novartis AG has a 1 year low of $79.09 and a 1 year high of $94.26. The firm has a market cap of $182.76 billion, a PE ratio of 8.07, a P/E/G ratio of 2.34 and a beta of 0.53. The stock has a fifty day moving average price of $84.16 and a 200-day moving average price of $86.08. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.38 and a quick ratio of 1.13.

Novartis (NYSE:NVSGet Rating) last announced its earnings results on Monday, July 18th. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.04. Novartis had a return on equity of 21.88% and a net margin of 44.31%. The firm had revenue of $12.78 billion during the quarter, compared to analyst estimates of $12.78 billion. During the same period last year, the firm posted $1.64 EPS. The business’s revenue was down 1.4% compared to the same quarter last year. Equities research analysts anticipate that Novartis AG will post 6.06 EPS for the current year.

Novartis Profile

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Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company operates through two segments, Innovative Medicines and Sandoz. The Innovative Medicines segment offers prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology, dermatology, respiratory, cardiovascular, renal, and metabolism medicine products.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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