OLD National Bancorp IN Has $1.62 Million Holdings in Novartis AG (NYSE:NVS)

OLD National Bancorp IN decreased its holdings in Novartis AG (NYSE:NVS) by 9.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 14,037 shares of the company’s stock after selling 1,507 shares during the period. OLD National Bancorp IN’s holdings in Novartis were worth $1,615,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in NVS. Dimensional Fund Advisors LP grew its holdings in shares of Novartis by 23.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,407,692 shares of the company’s stock worth $788,626,000 after purchasing an additional 1,389,610 shares during the last quarter. Janus Henderson Group PLC increased its position in Novartis by 0.6% in the 1st quarter. Janus Henderson Group PLC now owns 2,568,728 shares of the company’s stock valued at $248,473,000 after acquiring an additional 16,015 shares in the last quarter. Mondrian Investment Partners LTD boosted its stake in shares of Novartis by 40.1% in the 1st quarter. Mondrian Investment Partners LTD now owns 2,065,739 shares of the company’s stock valued at $199,819,000 after purchasing an additional 590,830 shares during the last quarter. Magnetar Financial LLC boosted its stake in shares of Novartis by 53.7% in the 1st quarter. Magnetar Financial LLC now owns 1,906,046 shares of the company’s stock valued at $184,372,000 after purchasing an additional 666,104 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Novartis by 191.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,904,664 shares of the company’s stock worth $202,771,000 after acquiring an additional 1,250,318 shares during the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Stock Down 1.2 %

Shares of NYSE NVS opened at $115.76 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.72 and a debt-to-equity ratio of 0.47. The company has a market cap of $236.61 billion, a price-to-earnings ratio of 14.67, a PEG ratio of 1.70 and a beta of 0.57. Novartis AG has a 12 month low of $92.19 and a 12 month high of $120.92. The stock has a 50-day moving average price of $116.39 and a two-hundred day moving average price of $108.22.

Wall Street Analysts Forecast Growth

NVS has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Novartis in a research note on Friday, July 19th. Barclays upgraded shares of Novartis to a “strong sell” rating in a report on Monday, June 24th. Bank of America downgraded shares of Novartis from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $135.00 to $130.00 in a report on Wednesday, September 11th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $121.00 price objective (up from $119.00) on shares of Novartis in a report on Thursday, September 5th. Finally, Jefferies Financial Group downgraded shares of Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. One investment analyst has 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 an average rating of “Hold” and an average price target of $120.70.

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.