Novartis AG (NYSE:NVS) Shares Acquired by Greenleaf Trust

Greenleaf Trust boosted its position in Novartis AG (NYSE:NVS) by 8.9% during the 3rd quarter, Holdings Channel reports. The fund owned 17,601 shares of the company’s stock after acquiring an additional 1,445 shares during the quarter. Greenleaf Trust’s holdings in Novartis were worth $2,024,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in Novartis by 23.1% during the second 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. Bank of New York Mellon Corp boosted its holdings in shares of Novartis by 191.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,904,664 shares of the company’s stock valued at $202,771,000 after buying an additional 1,250,318 shares in the last quarter. Magnetar Financial LLC grew its position 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 buying an additional 666,104 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Novartis in the 2nd quarter valued at about $64,610,000. Finally, Mondrian Investment Partners LTD lifted its holdings 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. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Novartis Stock Performance

NYSE NVS opened at $114.06 on Thursday. 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 capitalization of $233.14 billion, a PE ratio of 14.46, a price-to-earnings-growth ratio of 1.70 and a beta of 0.57. The business’s 50-day moving average price is $116.44 and its 200 day moving average price is $108.39. Novartis AG has a twelve month low of $92.19 and a twelve month high of $120.92.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on NVS shares. Jefferies Financial Group downgraded Novartis from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Novartis in a research report on Friday, July 19th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $121.00 target price (up from $119.00) on shares of Novartis in a report on Thursday, September 5th. Finally, Bank of America downgraded shares of Novartis from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $135.00 to $130.00 in a research note on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.