Novartis AG (NYSE:NVS) Stock Holdings Increased by Benjamin Edwards Inc.

Benjamin Edwards Inc. raised its holdings in shares of Novartis AG (NYSE:NVS - Free Report) by 90.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,491 shares of the company's stock after buying an additional 21,561 shares during the period. Benjamin Edwards Inc.'s holdings in Novartis were worth $5,239,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Raymond James & Associates boosted its stake in shares of Novartis by 1.3% in the second quarter. Raymond James & Associates now owns 536,607 shares of the company's stock valued at $57,127,000 after purchasing an additional 6,767 shares during the period. Manning & Napier Advisors LLC purchased a new position in shares of Novartis in the second quarter valued at $15,044,000. Integral Health Asset Management LLC boosted its stake in Novartis by 33.3% during the 2nd quarter. Integral Health Asset Management LLC now owns 300,000 shares of the company's stock valued at $31,938,000 after acquiring an additional 75,000 shares during the last quarter. Granite Bay Wealth Management LLC bought a new position in Novartis during the 2nd quarter valued at $854,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Novartis by 115.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 231,792 shares of the company's stock valued at $26,797,000 after acquiring an additional 124,111 shares during the last quarter. 13.12% of the stock is owned by institutional investors and hedge funds.

Novartis Stock Performance

Shares of NVS stock traded down $2.73 during trading hours on Wednesday, reaching $101.83. The stock had a trading volume of 1,621,076 shares, compared to its average volume of 1,336,001. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.11 and a quick ratio of 0.90. Novartis AG has a twelve month low of $92.35 and a twelve month high of $120.92. The firm has a 50-day simple moving average of $109.95 and a 200-day simple moving average of $110.25. The firm has a market capitalization of $208.14 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 1.51 and a beta of 0.56.

Novartis (NYSE:NVS - Get Free Report) last announced its earnings results on Tuesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.94 by $0.12. The firm had revenue of $12.82 billion during the quarter, compared to analyst estimates of $12.62 billion. Novartis had a net margin of 35.96% and a return on equity of 34.80%. During the same quarter in the prior year, the firm posted $1.74 EPS. As a group, equities analysts forecast that Novartis AG will post 7.66 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. HSBC downgraded shares of Novartis from a "hold" rating to a "reduce" rating in a research note on Wednesday. BMO Capital Markets increased their target price on shares of Novartis from $118.00 to $120.00 and gave the stock a "market perform" rating in a report on Wednesday, October 30th. Erste Group Bank reissued a "hold" rating on shares of Novartis in a report on Tuesday, November 19th. The Goldman Sachs Group reissued a "neutral" rating and set a $121.00 target price (up from $119.00) on shares of Novartis in a report on Thursday, September 5th. Finally, Jefferies Financial Group cut shares of Novartis from a "buy" rating to a "hold" rating in a report on Tuesday, September 3rd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $121.50.

Novartis Profile

Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.