Heritage Way Advisors LLC raised its holdings in Novartis AG (NYSE:NVS) by 110.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,958 shares of the company’s stock after purchasing an additional 30,354 shares during the period. Novartis accounts for about 1.8% of Heritage Way Advisors LLC’s holdings, making the stock its 17th biggest position. Heritage Way Advisors LLC’s holdings in Novartis were worth $4,866,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Janus Henderson Group PLC grew its stake in Novartis by 42,797.5% during the second quarter. Janus Henderson Group PLC now owns 1,914,516 shares of the company’s stock valued at $159,821,000 after acquiring an additional 1,910,053 shares in the last quarter. Parnassus Investments CA grew its stake in Novartis by 18.5% during the third quarter. Parnassus Investments CA now owns 9,447,817 shares of the company’s stock valued at $811,095,000 after acquiring an additional 1,477,168 shares in the last quarter. FMR LLC grew its stake in Novartis by 172.1% during the second quarter. FMR LLC now owns 2,294,782 shares of the company’s stock valued at $191,546,000 after acquiring an additional 1,451,441 shares in the last quarter. BlackRock Inc. grew its stake in Novartis by 25.3% during the second quarter. BlackRock Inc. now owns 3,549,783 shares of the company’s stock valued at $296,299,000 after acquiring an additional 717,186 shares in the last quarter. Finally, Bain Capital Public Equity Management LLC purchased a new position in Novartis during the second quarter valued at approximately $45,845,000. Hedge funds and other institutional investors own 10.85% of the company’s stock.
Several brokerages recently commented on NVS. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Novartis in a research note on Thursday. Barclays cut shares of Novartis from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, October 25th. UBS Group reaffirmed a “neutral” rating on shares of Novartis in a research note on Monday. Zacks Investment Research cut shares of Novartis from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Finally, Bank of America cut shares of Novartis from a “neutral” rating to an “underperform” rating in a research note on Wednesday, December 6th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $85.32.
Novartis (NYSE:NVS) last announced its earnings results on Tuesday, October 24th. The company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.04. Novartis had a net margin of 13.73% and a return on equity of 15.77%. The business had revenue of $12.41 billion during the quarter, compared to analyst estimates of $12.21 billion. During the same period in the previous year, the business posted $1.23 earnings per share. Novartis’s revenue for the quarter was up 2.4% on a year-over-year basis. analysts anticipate that Novartis AG will post 4.79 EPS for the current year.
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.
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