US Bancorp DE Increases Holdings in Novartis AG

US Bancorp DE has increased its holdings in Novartis AG (NYSE:NVS) by 12.1% during the third quarter, as reported in its recent 13F filing with the SEC. After acquiring an additional 26,150 shares over the quarter, US Bancorp DE now owns a total of 242,627 shares of Novartis. As stated in the filing, the value of these holdings amounts to approximately $27,907,000.

Other Investors Adjust Their Positions

In addition to US Bancorp DE, other institutional investors have also revised their stakes in Novartis. Raymond James & Associates raised its holdings by 1.3% in the second quarter, now owning 536,607 shares worth $57,127,000 after buying an additional 6,767 shares recently. Manning & Napier Advisors LLC initiated a new position in Novartis, valued at $15,044,000 in the second quarter. Similarly, O Shaughnessy Asset Management LLC increased its stake by 6.5% during the first quarter, owning 180,764 shares worth $17,485,000 after acquiring an additional 11,080 shares. Furthermore, Integral Health Asset Management LLC boosted its position by 33.3% in the second quarter, now holding 300,000 shares worth $31,938,000 after an additional purchase of 75,000 shares. Lastly, FORA Capital LLC entered a new stake valued at around $2,968,000 in the first quarter. Overall, hedge funds and other institutional investors collectively own 13.12% of Novartis's stock.

Analyst Ratings and Price Targets

Several analysts have provided their insights regarding Novartis shares. Deutsche Bank Aktiengesellschaft has reiterated a "hold" rating in a note dated July 19th. Bank of America recently downgraded Novartis from a "buy" to a "neutral" rating, lowering their price target from $135.00 to $130.00 on September 11th. Likewise, Jefferies Financial Group reduced the rating from "buy" to "hold" on September 3rd. BMO Capital Markets raised its target price on Novartis from $118.00 to $120.00, assigning the stock a "market perform" rating. Goldman Sachs also maintained a "neutral" rating while adjusting the price target to $121.00 from $119.00. In total, one analyst has rated Novartis as a sell, seven analysts hold it at neutral, and one has given it a strong buy recommendation. According to MarketBeat.com, Novartis has an average rating of "Hold" with a consensus price target of $121.50.

Recent Performance and Growth

As of the last trading session, Novartis shares opened at $109.34. The company reports a quick ratio of 0.72, a current ratio of 1.11, and a debt-to-equity ratio of 0.55. The firm enjoys a market capitalization of $223.49 billion, with a price-to-earnings ratio of 12.70 and a price-to-earnings-growth ratio of 1.59. Novartis's stock has reached a 52-week low of $92.35 and a high of $120.92. Its 50-day and 200-day simple moving averages stand at $115.76 and $109.12, respectively.

Quarterly Earnings Overview

Novartis recently announced its quarterly earnings on October 29th, reporting an EPS of $2.06. This result exceeded the analyst consensus estimate of $1.94 by $0.12. The company's return on equity was 34.80%, and it achieved a net margin of 35.96%. Revenue for the quarter amounted to $12.82 billion, surpassing analysts' expectations of $12.62 billion. For the current year, analysts forecast that Novartis AG will report earnings per share of approximately 7.56.

Company Background

Novartis AG is engaged in the research, development, manufacturing, and marketing of healthcare products both in Switzerland and internationally. The company specializes in offering prescription medications for various therapeutic areas which include cardiovascular health, renal and metabolic conditions, immunology, neuroscience, and oncology, along with ophthalmology and hematology.

Novartis, Investments, Holdings