Novartis AG (NYSE:NVS) Position Lifted by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC raised its holdings in Novartis AG (NYSE:NVS) by 0.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 28,035 shares of the company’s stock after acquiring an additional 21 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Novartis AG were worth $2,340,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Primecap Management Co. CA raised its holdings in Novartis AG by 2.1% in the 1st quarter. Primecap Management Co. CA now owns 21,693,804 shares of the company’s stock valued at $1,611,199,000 after acquiring an additional 446,976 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Novartis AG by 12.2% in the 1st quarter. Wells Fargo & Company MN now owns 9,100,801 shares of the company’s stock valued at $675,917,000 after acquiring an additional 988,301 shares during the last quarter. Parnassus Investments CA raised its holdings in Novartis AG by 89.4% in the 1st quarter. Parnassus Investments CA now owns 8,173,974 shares of the company’s stock valued at $593,720,000 after acquiring an additional 3,858,632 shares during the last quarter. Bank of America Corp DE raised its holdings in Novartis AG by 7.5% in the 1st quarter. Bank of America Corp DE now owns 7,328,730 shares of the company’s stock valued at $544,304,000 after acquiring an additional 508,435 shares during the last quarter. Finally, Fisher Asset Management LLC raised its holdings in Novartis AG by 6.3% in the 2nd quarter. Fisher Asset Management LLC now owns 6,505,935 shares of the company’s stock valued at $543,050,000 after acquiring an additional 384,262 shares during the last quarter. Institutional investors own 10.98% of the company’s stock.

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Novartis AG (NYSE NVS) traded down 0.29% during mid-day trading on Friday, hitting $85.58. The stock had a trading volume of 1,933,504 shares. The stock has a market cap of $200.50 billion, a PE ratio of 31.24 and a beta of 0.74. The firm’s 50-day moving average is $84.27 and its 200 day moving average is $80.30. Novartis AG has a one year low of $66.93 and a one year high of $86.90.

Novartis AG (NYSE:NVS) last released its earnings results on Tuesday, July 18th. The company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.06. The company had revenue of $12.24 billion during the quarter, compared to the consensus estimate of $12.20 billion. Novartis AG had a net margin of 13.52% and a return on equity of 15.51%. The company’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.23 EPS. Equities research analysts expect that Novartis AG will post $4.75 EPS for the current year.

In other Novartis AG news, major shareholder Bioventures Ltd Novartis purchased 266,667 shares of the business’s stock in a transaction dated Wednesday, July 5th. The shares were acquired at an average price of $15.00 per share, for a total transaction of $4,000,005.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.01% of the stock is currently owned by company insiders.

NVS has been the subject of several analyst reports. UBS AG reiterated a “neutral” rating on shares of Novartis AG in a report on Wednesday, May 24th. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Novartis AG in a report on Friday, June 2nd. Morgan Stanley reiterated a “sell” rating on shares of Novartis AG in a report on Tuesday, June 6th. TheStreet upgraded Novartis AG from a “c+” rating to a “b” rating in a report on Friday, June 2nd. Finally, Barclays PLC upgraded Novartis AG from an “underweight” rating to an “equal weight” rating in a report on Thursday, June 22nd. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. Novartis AG currently has a consensus rating of “Hold” and a consensus target price of $83.56.

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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