Meeder Asset Management Inc. Raises Stake in Novartis AG (NYSE:NVS)

Meeder Asset Management Inc. boosted its holdings in shares of Novartis AG (NYSE:NVS) by 92.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 811 shares of the company’s stock after acquiring an additional 389 shares during the period. Meeder Asset Management Inc.’s holdings in Novartis were worth $74,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of NVS. Allworth Financial LP lifted its position in Novartis by 76.0% during the 2nd quarter. Allworth Financial LP now owns 403 shares of the company’s stock valued at $37,000 after acquiring an additional 174 shares during the period. RMR Wealth Builders increased its stake in Novartis by 222.7% during the 1st quarter. RMR Wealth Builders now owns 455 shares of the company’s stock valued at $39,000 after purchasing an additional 314 shares in the last quarter. Anfield Capital Management LLC bought a new stake in Novartis during the 2nd quarter valued at about $42,000. Certified Advisory Corp bought a new stake in Novartis during the 1st quarter valued at about $43,000. Finally, KB Financial Partners LLC bought a new stake in Novartis during the 1st quarter valued at about $47,000. 9.90% of the stock is owned by institutional investors.

Shares of NYSE NVS opened at $85.28 on Wednesday. The firm has a 50 day moving average of $91.52 and a 200 day moving average of $89.44. The company has a current ratio of 0.80, a quick ratio of 0.56 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $190.75 billion, a price-to-earnings ratio of 21.59, a price-to-earnings-growth ratio of 2.07 and a beta of 0.54. Novartis AG has a 12-month low of $77.04 and a 12-month high of $98.52.

Novartis (NYSE:NVS) last announced its earnings results on Tuesday, July 20th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.14. Novartis had a net margin of 17.83% and a return on equity of 25.25%. The company had revenue of $12.96 billion during the quarter, compared to analyst estimates of $12.41 billion. During the same period in the previous year, the business posted $1.36 earnings per share. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. Sell-side analysts predict that Novartis AG will post 6.28 EPS for the current year.

A number of analysts have weighed in on NVS shares. Deutsche Bank Aktiengesellschaft lowered shares of Novartis from a “buy” rating to a “hold” rating in a research note on Thursday, July 22nd. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Novartis in a research note on Wednesday, July 28th. Finally, Zacks Investment Research lowered shares of Novartis from a “hold” rating to a “sell” rating and set a $96.00 price target for the company. in a research note on Monday, July 26th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Novartis has a consensus rating of “Hold” and an average price target of $104.33.

About Novartis

Novartis AG is a holding company, which engages in the development, manufacture, and marketing of healthcare products. It operates through the following segments: Innovative Medicines, Sandoz, and Corporate. The Innovative Medicines segment researches, develops, manufactures, distributes and sells patented pharmaceuticals, and is composed of two business units: Novartis Oncology and Novartis Pharmaceuticals.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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