New York State Common Retirement Fund Grows Holdings in Novartis AG $NVS

New York State Common Retirement Fund increased its holdings in Novartis AG (NYSE:NVS) by 3.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,298 shares of the company’s stock after acquiring an additional 3,753 shares during the quarter. New York State Common Retirement Fund’s holdings in Novartis were worth $13,632,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the business. Blue Trust Inc. grew its stake in shares of Novartis by 1.7% in the 3rd quarter. Blue Trust Inc. now owns 4,763 shares of the company’s stock worth $611,000 after buying an additional 78 shares during the last quarter. WealthPlan Investment Management LLC grew its stake in shares of Novartis by 0.9% in the third quarter. WealthPlan Investment Management LLC now owns 9,394 shares of the company’s stock worth $1,205,000 after acquiring an additional 80 shares during the last quarter. Capital Advisors Inc. OK increased its holdings in shares of Novartis by 4.3% during the third quarter. Capital Advisors Inc. OK now owns 2,027 shares of the company’s stock valued at $260,000 after acquiring an additional 83 shares in the last quarter. Glenview Trust co raised its position in shares of Novartis by 2.3% in the 2nd quarter. Glenview Trust co now owns 3,800 shares of the company’s stock worth $460,000 after purchasing an additional 84 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. boosted its stake in Novartis by 4.4% in the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 2,062 shares of the company’s stock worth $250,000 after purchasing an additional 87 shares in the last quarter. Institutional investors own 13.12% of the company’s stock.

Novartis Price Performance

Shares of NYSE:NVS opened at $151.09 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 0.88 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $319.17 billion, a PE ratio of 20.64, a price-to-earnings-growth ratio of 1.94 and a beta of 0.50. The firm’s 50 day moving average price is $138.88 and its 200-day moving average price is $129.95. Novartis AG has a twelve month low of $97.71 and a twelve month high of $152.48.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Jefferies Financial Group reaffirmed a “hold” rating on shares of Novartis in a report on Monday, October 27th. Cfra Research raised Novartis to a “hold” rating in a research report on Wednesday, October 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Novartis in a report on Monday, December 29th. JPMorgan Chase & Co. raised Novartis from a “neutral” rating to an “overweight” rating in a report on Monday, December 8th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Novartis in a report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Novartis presently has an average rating of “Hold” and a consensus price target of $119.75.

About Novartis

Novartis is a Swiss multinational pharmaceutical company headquartered in Basel that researches, develops, manufactures and commercializes prescription medicines and related health-care products. Formed through the 1996 merger of Ciba-Geigy and Sandoz, Novartis operates globally and focuses on bringing therapeutics from discovery through clinical development to commercial markets worldwide.

The company’s activities center on innovative pharmaceuticals across several therapeutic areas, including oncology, immunology, cardiovascular and metabolic diseases, neuroscience and ophthalmology, alongside capabilities in advanced therapies such as biologics, cell and gene therapies.